Earnings News
FONT-SIZE Plus   Neg

Penn Virginia Resource Partners Slips To Loss In Q1 - Quick Facts

Penn Virginia Resource Partners LP (PVR: Quote) reported that its first-quarter net loss attributable to the company was $110.34 million or $1.39 per limited partner unit, compared to net income of $8.18 million or $0.17 per limited partner unit in the same quarter last year.

Adjusted net income for the quarter declined to $15.81 million from $22.41 million in the year ago quarter.

Total revenues for the quarter declined to $246.42 million from $253.53 million in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.34 per share on revenues of $328.26 million for the quarter. Analysts' estimates typically exclude special items.

Penn Virginia Resource GP, LLC, the general partner of PVR, declared a quarterly cash distribution of $0.52 per unit payable on May 14, 2012 to unitholders of record at the close of business on May 8, 2012. This distribution equates to an annualized rate of $2.08 per unit, and represents a 2.0% increase over the prior quarter distribution and an 8.3% increase over the first quarter of 2011.

Current guidance for full year 2012 EBITDA in the range of $260-$280 million and full year 2012 distributable cash flow, net of maintenance and replacement capital, in the range of $160-$180 million is unchanged from prior announcements.

To receive FREE breaking news email alerts for PVR Partners L.P. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

comments powered by Disqus
FREE Newsletters, Analysis & Alerts


Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.