Hi-Crush (HCLP) Misses Q1 Earnings And Revenue Estimates
Zacks Investment Research | May 13, 2019 08:53AM ET
Hi-Crush Partners LP (NYSE:HCLP) posted net loss of $6.2 million or 6 cents per share in first-quarter 2019, against net income of $53.4 million or 59 cents in the year-ago quarter. Loss per share was wider than the Zacks Consensus Estimate of breakeven level.
Revenues tumbled roughly 26.7% year over year to $159.9 million. The figure trailed the Zacks Consensus Estimate of $178.2 million.
Total frac sand sold during the quarter was 2,411,262 tons, down 7.9% year over year. Contribution margin per ton sold declined 58.1% year over year to $12.19. Average sales price was $48 per ton.
Sales volumes to E&Ps contributed 63% to total sales volumes in the first quarter compared with 51% in fourth-quarter 2018. Also, 24% of the total sales volumes were sold at the wellsite through PropStream compared with 36% in the fourth quarter.
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