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Rhino Resource widens Q2 net loss to $3M

Rhino Resource Partners LP on Aug. 8 reported a net loss of $3.0 million, or 23 cents per unit, in the 2018 second quarter, compared with a loss of $300,000, or 8 cents per unit, in the prior-year period.

Adjusted EBITDA dropped year over year to $4.6 million from $6.9 million. Revenue was $54.9 million, compared with $54.7 million in the same quarter a year earlier.

The partnership reported sales of 1.1 million tons of coal in the second quarter, compared with 1.0 million tons in the same quarter a year earlier.

"Market demand across all our operating basins remained strong during the quarter. Even though market demand was keen during the quarter, we continued experiencing delays in rail service which impacted our financial results for the quarter," said Rick Boone, president and CEO of Rhino's general partner.