Westmoreland Coal (WLB) Misses Q1 EPS Views
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Westmoreland Reports First Quarter 2016 Results and Affirms Full-year Guidance
May 10, 2016 8:03 AM EDTENGLEWOOD, Colo., May 10, 2016 (GLOBE NEWSWIRE) -- Westmoreland Coal Company (Nasdaq: WLB) today reported financial results for the 2016 first quarter and affirmed its full-year 2016 outlook.
First Quarter Highlights
Revenues of $354.7 million, from tons sold of 13.8 millionNet income applicable to common shareholders of $30.6 million, or $1.67 per diluted share, including a $47.9 million, or $2.62 per diluted share, tax benefit resulting from the change in valuation of tax assets following the San Juan acquisitionAdjusted EBITDA1 of $63.0 millionCash flow provided by operating activities of $18.2 millionFree cash... More