Foresight Energy LP (FELP) Misses Q4 EPS by 2c, Revenues Beat

Foresight Energy LP (NYSE: FELP) reported Q4 EPS of $0.14, $0.02 worse than the analyst estimate of $0.16. Revenue for the quarter came in at $298.91 million versus the consensus estimate of $259.2 million.

“Foresight’s financial and operating results for 2018 demonstrated our ability to capitalize on strong export markets and improved domestic spot opportunities to achieve record sales volumes,” remarked Mr. Robert D. Moore, Chairman, President, and Chief Executive Officer. “These volumes helped drive a 16% increase in sales revenues compared to the prior year, Adjusted EBITDA of over $313 million, and cash flows from operations exceeding $133 million, all while safely producing 23.3 million tons, maintaining our industry-leading cost structure, and capturing solid margins.”

Mr. Moore further commented, “In 2018 we, again, achieved excellent operating results and positioned the Partnership for future growth. Further, with the resolution of the litigation with NRP involving our Hillsboro complex, we were able to resume production at our Deer Run Mine with one continuous miner unit. We continue to evaluate our potential future mining options at the Deer Run Mine, which has the potential to be our lowest cost asset.”

Guidance for 2019

Based on Foresight’s contracted position, recent performance, and its current outlook on pricing and the coal markets in general, the Partnership is providing the following guidance for 2019:

• Sales Volumes – Based on current committed position and expectations for 2019, Foresight is projecting sales volumes to be between 22.0 and 23.0 million tons, with over 7.0 million tons expected to be sold into the international market.
• Adjusted EBITDA – Based on the projected sales volumes and operating cost structure, Foresight currently expects to generate Adjusted EBITDA in a range of $300 to $340 million.
• Capital Expenditures – Total 2019 capital expenditures are estimated to be between $80 and $95 million.

For earnings history and earnings-related data on Foresight Energy LP (FELP) click here.

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