Hi-Crush Inc (fka HCRSQ)

[56Chevy]

Hi-Crush Partners LP (NYSE:HCLP), "Hi-Crush" or the "Partnership", today reported third quarter 2017 results.

Revenues for the third quarter of 2017 totaled $167.6 million on sales of 2,456,195 tons of frac sand. This compares to $135.2 million of revenues on sales of 2,112,516 tons of frac sand in the second quarter of 2017. The limited partners' interest in net income was $29.8 million for the third quarter of 2017, resulting in $0.33 basic and $0.32 diluted earnings per limited partner unit.

Earnings before interest, taxes, depreciation and amortization ("EBITDA") for the third quarter of 2017 was $41.8 million, compared to $26.8 million for the second quarter of 2017. EBITDA adjusted for earnings from equity method investments ("Adjusted EBITDA") was $41.7 million in the third quarter of 2017, compared to $26.5 million for the second quarter of 2017. Distributable cash flow attributable to the limited partners for the third quarter of 2017 was $37.5 million compared to $22.9 million for the second quarter of 2017.

"The impressive third quarter performance we announced today is a direct result of our Mine. Move. Manage. operating strategy, and is underpinned by ongoing strength in oil and gas completions activity in the U.S.," said Robert E. Rasmus, Chief Executive Officer of Hi-Crush. "Over the last several months, we completed several critical projects, including the construction and commencement of operations at our Kermit facility and Pecos terminal in the Permian Basin. These projects enhance and extend our ability to service customers through our growing and integrated production and logistics network. Our sales volumes improved to approximately 2.5 million tons for the third quarter, in-line with guidance, and marking the highest quarterly volumes recorded in Hi-Crush history. We remain relentlessly focused on execution, and our results are the outcome of our team’s efforts and success. Our execution, combined with our capital return strategy to our unitholders, is driving significant value for Hi-Crush and its unitholders.

Marker:
Hi-Crush Partners LP (HCLP)
10.0 ? -0.1 (-0.99%)
Volume: 643,328