Westmoreland Coal (WLB) Posts Q3 GAAP Loss of $2.95/Share
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Westmoreland Reports Third Quarter 2015 Results, Updates Full Year Guidance
October 23, 2015 7:00 AM EDTENGLEWOOD, Colo.--(BUSINESS WIRE)-- Westmoreland Coal Company (NasdaqGM: WLB) today announced results of the third quarter ended September 30, 2015 and updated its full year guidance.
Revenues for the quarter were $349.8 million versus $337.8 million in the same quarter in 2014. Adjusted EBITDA for the third quarter of 2015 was $48.0 million, while Adjusted EBITDA for the third quarter of 2014 was $41.7 million. Adjusted EBITDA for this quarter included results of WMLP and the Buckingham operations, which were not present during the third quarter of 2014. Net loss for the quarter was $46.6 million versus $49.3 million in the same quarter in... More
Westmoreland Resource Partners, LP Reports Third Quarter 2015 Results
October 23, 2015 7:00 AM EDTENGLEWOOD, Colo.--(BUSINESS WIRE)-- Westmoreland Resource Partners, LP (NYSE: WMLP) ("WMLP" or the "Partnership") today reported its results for the third quarter 2015. As released on August 4, 2015, WMLP results now include Westmoreland Kemmerer, LLC ("WKL") for all periods presented. Highlights for the third quarter 2015 include:
Adjusted EBITDA for the third quarter 2015 of $16.1 million, compared to $19.6 million in the third quarter 2014 on a pro forma basis. Distributable Cash Flow for the third quarter 2015 of $3.0 million, down from $26.2 million in the third quarter 2014 on a pro forma... MoreWestmoreland Announces CEO Transition, Management Promotions
October 23, 2015 7:00 AM EDTENGLEWOOD, Colo.--(BUSINESS WIRE)-- Westmoreland Coal Company (NasdaqGM: WLB) announced today that Keith E. Alessi, 61, Chief Executive Officer, has announced his intent to retire effective December 31, 2015. Mr. Alessi will remain an employee of the company as CEO Emeritus. He will be responsible for providing strategic support to both the Board of Directors and management, as well as maintaining key relationships and evaluating business development opportunities.
The Board of Directors has named Kevin A. Paprzycki, the companys Chief Financial Officer, as Chief Executive Officer effective as of January 1, 2016. It is intended... More
