Enviva Partners (EVA) Misses Q1 EPS by 100c, Miss on Revenues

Enviva Partners (NYSE: EVA) reported Q1 EPS of ($0.78), $1.00 worse than the analyst estimate of $0.22. Revenue for the quarter came in at $125.8 million versus the consensus estimate of $143.91 million.

Highlights:

• Declared a quarterly distribution of $0.6250 per unit, a 12.6% increase from the distribution paid for the first quarter of 2017
• Reported a net loss of $19.3 million for the first quarter of 2018, reflecting $19.5 million of expenses related to the incident at the Chesapeake terminal
• Reported an adjusted EBITDA of $17.6 million for the first quarter of 2018. Excluding the full impact of the incident at the Chesapeake terminal, adjusted EBITDA would have been $21.8 million for the first quarter of 2018
• Chesapeake terminal expected to return to full operation by June 30, 2018; substantially all of the costs associated with the incident expected to be recoverable
• Reaffirmed full-year 2018 distribution guidance of at least $2.53 per unit

For earnings history and earnings-related data on Enviva Partners (EVA) click here.

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