Ciner Resources LP (CINR) Misses Q1 EPS by 7c

Ciner Resources LP (NYSE: CINR) reported Q1 EPS of $0.51, $0.07 worse than the analyst estimate of $0.58. Revenue for the quarter came in at $114.4 million versus the consensus estimate of $120.6 million.

Kirk Milling, CEO, commented, “Our first quarter results were adversely impacted by several production issues, the most significant being a drop in ore quality. This was a result of our mining operations moving into a previously undeveloped ore section in February. We have taken corrective actions and have seen improved production performance since early April.

“During our planned April maintenance outage, we made further modifications to our processing equipment in order to better handle any significant variations in ore quality encountered going forward. We believe these improvements should result in higher than planned production rates for the remainder of the year. Accordingly, we remain comfortable with our 2016 outlook.”

For earnings history and earnings-related data on Ciner Resources LP (CINR) click here.

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