For the 3Q 2020, Enviva Partners, LP generated net revenue of $225.6 million, as compared to $157.4 million for the corresponding quarter of 2019. The $68.2 million increase was primarily attributable to a 40% increase in metric tons sold during the 3Q 2020, as compared to the corresponding quarter of 2019.

Enviva Partners, LP increased 3Q net revenue to $225.6 million

For the 3Q 2020, Enviva Partners, LP generated net revenue of $225.6 million, as compared to $157.4 million for the corresponding quarter of 2019. The $68.2 million increase was primarily attributable to a 40% increase in metric tons sold during the 3Q 2020, as compared to the corresponding quarter of 2019.

For the 3Q 2020, Enviva Partners generated gross margin of $25.6 million, as compared to $26.5 million for the corresponding period in 2019, a decrease of approximately $0.9 million.

Adjusted gross margin was $56.8 million for the 3Q 2020, as compared to $41 million for the 3Q 2019. The increase in adjusted gross margin during the 3Q 2020 was primarily due to increased metric tons sold and higher other revenue.

For the 3Q 2020, net income was $1.4 million, as compared to net income of $8.9 million for the 3Q 2019. Adjusted net income was $11.2 million for the 3Q 2020, as compared to adjusted net income of $17.4 million for the 3Q 2019.

Adjusted EBITDA for the 3Q 2020 was $54.4 million, as compared to $39.4 million for the corresponding quarter of 2019. The increase was primarily due to higher metric tons sold and the resulting higher adjusted gross margin, as described above. Distributable cash flow, prior to any distributions attributable to incentive distribution rights paid to our general partner, was $42.2 million for the 3Q 2020, as compared to $30.0 million for the corresponding quarter of 2019.

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. The Partnership sells a significant majority of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom and Europe. 

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