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Foresight Energy posts net loss of $33.7M in Q2'19

Foresight Energy LP on Aug. 7 reported a net loss attributable to limited partner units of $33.7 million, or 23 cents per common unit and subordinated unit, in the second quarter of 2019, compared with a loss of $29.2 million, or 18 cents per common and 23 cents per subordinated unit, in the second quarter of the previous year.

Adjusted EBITDA fell year over year to $45.1 million from $104.1 million in the comparable quarter of 2018.

Revenue was $226.9 million, compared with $271.4 million in the same quarter a year earlier. Foresight reported sales of 5 million tons of coal in the second quarter, compared with 5.9 million tons in the same quarter a year earlier.

Foresight is projecting sales volumes to be between 21 million tons and 22 million tons and adjusted EBITDA in a range of $240 million to $270 million in 2019.