Energy Prospectus

Excerpt from PR:

EPS of $0.59 beats by $0.04
Revenue of $218.1M (+ 161.6% Y/Y) beats by $0.2M

1Q 2018 revenues of $218.1 million vs. $216.5 million in 4Q 2017 and $83.4 million in 1Q 2017
1Q 2018 net income of $53.9 million vs. $43.2 million in 4Q 2017 and net loss of $(6.8) million in 1Q 2017
1Q 2018 Adjusted EBITDA of $64.5 million vs. $59.0 million in 4Q 2017 and $1.9 million in 1Q 2017
1Q 2018 distributable cash flow attributable to the limited partner unitholders of $56.4 million vs. $52.0 million in 4Q 2017 and $0.1 million in 1Q 2017
1Q 2018 contribution margin per ton of $29.08 vs. $23.46 in 4Q 2017 and $8.15 in 1Q 2017
Completed $9.4 million of unit repurchases in 1Q 2018; increased quarterly distribution to $0.225 per unit

Judging from AH trading, market apparently is a bit relieved of its anxiety over railroad issues and new capacity.

Net Income compares to my forecast of $46.4 million. HCLP is going to have a very good year.

Very important is the Q2 guidance, with volumes projected at 2.9-3.1 mmtons, and further increases in pricing and contribution margin.

Their Q1 results should not have been a surprise to anyone watching closely.

Their Q2 outlook, this is what I believe will drive response in today's aftermarket and tomorrow's session.

Let's watch....