Enviva Partners, LP Reports Financial Results for Third Quarter 2017 and Announces Ninth Consecutive Distribution Increase
Bethesda, Md. – November 2, 2017 – Enviva Partners, LP (NYSE:EVA) (the “Partnership” or “we”) today reported financial and operating results for the third quarter of 2017.
Declared a quarterly distribution of $0.6150 per unit, a 16.0 percent increase from the distribution paid for the third quarter of 2016
Generated net income of $6.3 million and adjusted EBITDA of $26.1 million for the third quarter of 2017, as compared to $10.3 million and $22.9 million, respectively, for the third quarter of 2016
Narrowed the guidance range for the full-year 2017 to net income of $19.5 million to $21.5 million and adjusted EBITDA of $104.0 million to $106.0 million
Reaffirmed distribution guidance for the full-year 2017 of at least $2.36 per common and subordinated unit
“With the benefits of the process improvements we undertook in the first half of the year, our facilities are performing at or better than our expectations, generating strong cash flow in the quarter enabling our 9th consecutive quarterly distribution increase,” said John Keppler, Chairman and Chief Executive Officer of Enviva. “In addition, we continue to build the foundation for long-term growth with increases to our contracted position and the completion of the Wilmington terminal drop-down acquisition, which adds capacity in the most critical portion of our logistics chain.”
To see the full release, please visit Enviva’s Investor Relations section.