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Rhino Resource Partners narrows net loss in Q4'18

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Rhino Resource Partners narrows net loss in Q4'18

Rhino Resource Partners LP on March 13 reported net loss of $5.6 million, or 49 cents per unit, in the 2018 fourth quarter, compared with a loss of $18.7 million, or $1.45 per unit, in the prior-year period.

Adjusted EBITDA dropped year over year to $6.3 million from $6.7 million in the same quarter in 2017, results showed. Revenue was $64.7 million, compared with $55.8 million in the fourth quarter a year earlier.

Rhino Resource reported sales of 1.2 million tons of coal in the quarter, compared with 1.1 million tons in the same quarter a year earlier.

For the full year, Rhino Resource reported net loss of $16.0 million, or $1.35 per unit, compared with a loss of $18.8 million, or $1.75 per unit, a year earlier. Adjusted EBITDA fell to $19.6 million from $26.3 million in 2017.

Full-year revenue came in at $247.0 million, compared with $218.7 million a year earlier. The partnership sold 4.6 million tons of coal during the year, compared with 4.1 million tons a year earlier.