Enviva Partners, LP reported financial and operating results for the 3Q 2018. Net income for the 3Q 2018 was $13.4 million compared to net income of $5 million for the 3Q 2017, an increase of $8.3 million, as the company said in the press release received by Lesprom Network.
Adjusted EBITDA for the 3Q 2018 was $30.2 million, as compared to $25.8 million for the corresponding quarter of 2017.
For the 3Q 2018, Enviva Partners, LP generated net revenue of $144.1 million, an increase of 9%, or $11.9 million, from the corresponding quarter of 2017.
For the 3Q 2018, Enviva Partners, LP generated gross margin of $30.1 million, as compared $20.4 million for the corresponding period in 2017.
“We built a portfolio of production plants and export terminals capable of withstanding unexpected and catastrophic events,” said John Keppler, Chairman and CEO of Enviva. “Despite the compounding effects of the Chesapeake fire and the direct hits we took from both Hurricanes Florence and Michael, our team delivered a strong quarter and we continue to believe our 2018 guidance remains achievable assuming the timely receipt of the recoveries we expect from our insurers and other parties. With these events behind us, our platform of long-term contracted assets is well positioned for a very strong 2019 and beyond.”
Enviva Partners, LP is a publicly traded master limited partnership that aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets.
