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Rhino Resource Partners reports Q2'17 net income of $290,000

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Rhino Resource Partners reports Q2'17 net income of $290,000

Rhino Resource Partners LP posted net income of $290,000 in the second quarter, with adjusted EBITDA of $6.9 million.

The partnership's diluted net loss per common unit was 8 cents during the quarter.

In the prior-year period, it posted a net loss of $122 million, or diluted net loss per common unit of $13.42, and adjusted EBITDA of $4.5 million.

Rhino said that revenue rose 35.9% year over year to $56.5 million during the quarter, while coal shipments stood at 1.0 million tons, with an average production cost of $44.57.

Through the first six months of the year, it reported a net loss of $1.7 million and adjusted EBITDA of $11.7 million. On a per-unit basis, the partnership posted a net loss of 30 cents.

Year-to-date revenue climbed 36% from a year earlier to $110.1 million, while coal shipments climbed 27.2% year over year to 2.0 million tons, with an average production cost of $45.34.