Have you been eager to see how fracking sand player Emerge Energy Services L.P. EMES performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Southlake, TX-based partnership’s earnings release this morning:
About Emerge Energy Services: It is an energy services firm, engages mainly in mining, producing and silica sand distribution businesses.
Zacks Rank & Surprise History: Currently, Emerge Energy Services has a Zacks Rank #3 (Hold) but that could change following its second quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Coming to earnings surprise history, the partnership has a dismal record: its underperformed estimates in each of the last four quarters with an average miss of 20.20%.
We have highlighted some of the key details from the just-released announcement below:
A Wider-than-Expected Loss: The partnership reported loss per unit from continuing operations of 20 cents, wider than the Zacks Consensus Estimate of a loss of 9 cents.
Revenue Came in Lower than Expected: Revenues of $82.6 million were below the Zacks Consensus Estimate of $85 million.
Emerge Energy Services LP Price and EPS Surprise
Emerge Energy Services LP Price and EPS Surprise | Emerge Energy Services LP Quote
Key Stats: Emerge Energy Services has earlier classified its fuel business as discontinued operations as the partnership divested the unit. The entire earnings of the partnership are now from the sand segment, which incurred adjusted profit from continuing operation of $7.5 million. In the year-ago quarter, the company had generated a loss of $9.08 million.
Total sand volumes sold jumped by 248% year-over-year to 1,392,000 tons.
The partnership further stated that it will not pay a second-quarter distribution after generating insufficient cash during the period to do so.
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