North American Energy Partners (NOA) Tops Q1 EPS by 10c, Beats on Revenues

North American Energy Partners (NYSE: NOA) reported Q1 EPS of $0.36, $0.10 better than the analyst estimate of $0.26. Revenue for the quarter came in at $114.7 million versus the consensus estimate of $78.31 million.

Highlights of the First Quarter Ended March 31, 2018

• Revenue for the quarter was $114.7 million, compared to $92.8 million for the prior year, an increase of 23.6%.
• Adjusted EBITDA for the quarter was $39.1 million compared to $31.6 million for the prior year, an improvement of 23.7%.
• Net income for the quarter was $11.1 million, compared to $9.6 million for the prior year, an improvement of 15.6%.
• Basic and diluted earnings per share for the quarter was $0.44 and $0.36, respectively, compared to basic and diluted earnings per share of $0.34 and $0.31, respectively for the prior year. The current year earnings per share was negatively affected by a $1.7 million non-cash provision for an anticipated loss on a sub-lease the Company entered into for its under-utilized Edmonton office facility ($0.07 and $0.06 impact on basic and diluted earnings per share, respectively).
• $12.1 million of cash on hand at the end of the quarter.

For earnings history and earnings-related data on North American Energy Partners (NOA) click here.

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