Westmoreland Coal Reports Loss For Q3 - Quick Facts

(RTTNews) - Colorado-based Westmoreland Coal Co. (WLB) Thursday reported a loss for the third quarter, compared with profit last year, amid $23.7 million of derivative losses, increases in selling and administrative costs, and restructuring charges.

For the three months to September, the coal producer reported a net loss of $49.33 million or $2.95 per share, compared with a profit of $2.42 million or $0.16 per share a year earlier.

Analysts polled by Thomson-Reuters expected a loss of $1.14. Analysts' estimates typically exclude one-time items.

Adjusted EBITDA totaled $41.71 million, compared with $30.12 million a year earlier.

Revenues increased to $337.83 million, from $176.79 million last year, helped by customer gains and the Canadian acquisition.