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Wednesday, August 3, 2016

Enviva Partners (EVA) reported earnings Wed 3 Aug 2016 (b/o)

  • Div/yield 0.52/9.37
** charts before earnings **

** charts after earnings **

Enviva Partners beats by $0.05, misses on revs, updates FY16 guidance :
  • Reports Q2 (Jun) earnings of $0.47 per share, $0.05 better than the two analyst estimate of $0.42; revenues rose 9.1% year/year to $119.7 mln vs the $123.17 mln Capital IQ Consensus.
  • The Partnership updated its full-year 2016 guidance.
    • The guidance amounts provided do not include the impact of any potential acquisitions from the Partnership's sponsor or others.
    • The Partnership now expects full-year 2016 net income to be in the range of $40.0 million to $42.0 million, which reflects higher non-cash compensation expense and non-cash asset impairment and disposal charges than previously anticipated, and adjusted EBITDA to be in the range of $86.0 million to $88.0 million, which reflects the Partnership's better-than-expected performance during the first half of 2016.
    • The Partnership expects to incur maintenance capital expenditures of $4.0 million and interest expense net of amortization of debt issuance costs and original issue discount of $12.0 million in 2016.
    • The Partnership expects full-year distributable cash flow to be in the range of $70.0 million to $72.0 million, prior to any distributions attributable to incentive distribution rights paid to the general partner, which reflects the expected improvement in full-year adjusted EBITDA.
    • For full-year 2016, they expect to distribute at least $2.10 per common and subordinated unit.

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