Enviva Partners (EVA) Posts Q4 Loss of $.32/Share

Enviva Partners (NYSE: EVA) reported Q4 EPS of ($0.32), which may note compare to the analyst estimate of $0.32. Revenue for the quarter came in at $126.5 million versus the consensus estimate of $117.08 million.

Outlook and Guidance

Consistent with the guidance provided on November 3, 2016, the Partnership expects full-year 2017 net income to be in the range of $31.0 million to $35.0 million and adjusted EBITDA to be in the range of $110.0 million to $114.0 million. The Partnership expects to incur maintenance capital expenditures of $5.0 million and interest expense net of amortization of debt issuance costs and original issue discount of $29.0 million in 2017. As a result, the Partnership expects full-year distributable cash flow to be in the range of $76.0 million to $80.0 million, prior to any distributions attributable to incentive distribution rights paid to the general partner. For full-year 2017, we expect to distribute at least $2.35 per common and subordinated unit. The guidance amounts provided above do not include the impact of any additional acquisitions from the Partnership’s sponsor or third parties. Although deliveries to our customers are generally ratable over the year, the Partnership’s quarterly income and cash flow are subject to modest seasonality in the first quarter and to the mix of customer shipments made, which may vary from period to period. As such, the board of directors of the Partnership’s general partner evaluates the Partnership’s distribution coverage ratio on an annual basis when determining the distribution for a quarter.

For earnings history and earnings-related data on Enviva Partners (EVA) click here.

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