Enviva Partners, LP Reports Financial Results for Second Quarter 2017
Bethesda, Md. – August 3, 2017 – Enviva Partners, LP (NYSE: EVA) (the “Partnership” or “we”) today reported financial and operating results for the second quarter of 2017.
Generated net income of $3.9 million and adjusted EBITDA of $24.5 million for the second quarter of 2017, as compared to $9.9 million and $21.3 million, respectively, for the second quarter of 2016
Declared a quarterly distribution of $0.5700 per unit, an 8.6 percent increase from the distribution paid for the second quarter of 2016
Revised full-year 2017 guidance for net income to a range of $18.5 million to $22.5 million and adjusted EBITDA to a range of $103.0 million to $107.0 million, including the impact of the acquisition of the Wilmington terminal but excluding the impact of any additional drop-downs or third-party acquisitions
Confirmed expected distribution for the full-year 2017 of at least $2.36 per common and subordinated unit
“With continued growth in our cash flows, we were pleased to announce our 8th consecutive distribution increase,” said John Keppler, Chairman and Chief Executive Officer of Enviva. “In order to extend our leadership in a rapidly growing industry, we implemented several process improvements that temporarily reduced plant utilization. With those enhancements largely in place, and given the robust fundamentals of the business, we remain on track to distribute at least $2.36 per unit for full-year 2017 and expect to maintain our track record of quarterly distribution growth into 2018.”
To see the full release, please visit Enviva’s Investor Relations section.