Westmoreland Coal (WLB) Posts Q3 GAAP Loss of $2.95/Share

Westmoreland Coal (NASDAQ: WLB) reported Q3 EPS of ($2.95), $2.57 worse than the analyst estimate of ($0.38). Revenue for the quarter came in at $349.8 million versus the consensus estimate of $389.8 million.

The decrease in Q3 net loss was driven largely by a $17.8 million decrease in derivative losses on our ROVA power contract and a $3.3 million decrease in restructuring charges. These changes were offset by a $5.6 million increase in interest expense due to our higher debt levels arising from our MLP and Buckingham acquisitions and $5.4 million in additional losses on extinguishment of debt arising from the early repayment of amounts under our term loan using the proceeds received from the Kemmerer Drop.

For earnings history and earnings-related data on Westmoreland Coal (WLB) click here.

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