Ciner Resources LP (CINR) Misses Q3 EPS by 13c, Revenues Miss

Ciner Resources LP (NYSE: CINR) reported Q3 EPS of $0.44, $0.13 worse than the analyst estimate of $0.57. Revenue for the quarter came in at $123.4 million versus the consensus estimate of $130.36 million.

Kirk Milling, CEO, commented: “Operating performance fell below our expectations as production volumes at our Wyoming facility continued to underperform. While the initiatives we undertook earlier this year to improve reliability are taking hold, we experienced an unexpected decline in the quality of our ore which limited the performance of our production assets. Combined with higher levels of capital spending, our distributable cash flow fell by almost 11% compared to last year. Despite this, the global market for soda ash remains tight, domestic demand is strong and pricing dynamics have continued to outpace our expectations.”

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

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