Emerge Energy Services (EMES) Q1 Loss Wider Than Expected
Emerge Energy Services LPEMES , an energy services firm, engages mainly in mining, producing and silica sand distribution businesses. Moreover, the partnership has storage terminals and distributes refined motor fuels.
Currently, Emerge Energy has a Zacks Rank #3 (Hold) but that could change following its first quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: The partnership reported loss per unit of $1.42 wider than the Zacks Consensus Estimate of a loss of 59 cents.
Revenue: Revenues of approximately $29.7 million failed to surpass the Zacks Consensus Estimate of $122 million.
Key Stats: Emerge Energy Services has now classified its fuel business as discontinued operations as the partnership is willing to sell the unit. The entire earnings of the partnership are now from the sand segment which incurred adjusted loss from continuing operation of $13.5 million. In the year-ago quarter, the company had generated a profit of $24.3 million.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report