For the second quarter of 2019, the Partnership reported a net loss of $3.8 million and adjusted net income of $7.0 million, as compared to net income of $3.5 million and adjusted net income of $2.7 million for the second quarter of 2018. Also, the Partnership declared a quarterly distribution of $0.66 per unit, its sixteenth consecutive quarterly increase.
“Solid operating performance drove a 25 percent increase in adjusted EBITDA for the second quarter, a substantial improvement over the first quarter of 2019 and over the second quarter of 2018,” said John Keppler, Chairman and Chief Executive Officer of Enviva. “For the second half of 2019, we expect a significant increase over the first half with the benefit of the now-ramping Hamlet facility in the fourth quarter of 2019. The Hamlet facility is the eighth operating plant in our broader organization, and we expect it to be followed by additional plants in Lucedale, Mississippi and elsewhere to fulfill the continued increases in demand for our product, evidenced again by the more than one million tons per year of long-term contracted deliveries we and our sponsor recently executed.”
Enviva Partners 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 agreements with creditworthy customers in the United Kingdom and Europe.
