Oxford Resource Partners LP (OXF) Posts Smaller-than-Expected Q2 Loss

Oxford Resource Partners LP (NYSE: OXF) reported Q2 EPS of ($0.11), $0.17 better than the analyst estimate of ($0.28). Revenue for the quarter came in at $82 million versus the consensus estimate of $81.8 million.

"While coal markets continue to present challenges, we are pleased to report second quarter results that are in line with our expectations," said Oxford's President and Chief Executive Officer Charles C. Ungurean. "Also, we settled the Big Rivers lawsuit in mid-July for an amount that substantially compensates us for our lost profits from the wrongful termination of our coal supply agreement. We are to receive the settlement payment of $19.5 million by mid-August." Ungurean continued, "With the settlement proceeds, we will pay down between $12.5 and $17.5 million of our first lien debt, enhance our liquidity by $2.0 to $7.0 million, and save $1.0 to $1.4 million in cash interest expense on an annual basis."

For earnings history and earnings-related data on Oxford Resource Partners LP (OXF) click here.

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