Hi-Crush Partners LP reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. Revenues for the quarter ended December 31, 2016 totaled $67.3 million on sales of 1,358,511 tons of frac sand. This compares to $46.6 million of revenues on sales of 1,082,974 tons of frac sand in the third quarter of 2016. The limited partners' interest in net loss was $7.2 million for the fourth quarter of 2016, resulting in basic and diluted loss of $0.11 per limited partner diluted unit compared to net income attributable of $10.68 million or $0.30 per diluted share a year ago. EBITDA for the fourth quarter 2016 was $0.1 million, compared to LBITDA of $2.9 million for the third quarter of 2016. Revenues for the fourth quarter of 2016 increased due to the sequential increase in sales volumes, combined with higher pricing generally, and the impact of higher volumes sold in-basin during the fourth quarter of 2016. Loss from operations was $4,312,000 against income from operations of $14,784,000 a year ago. Distributable cash flow attributable to the limited partners for the fourth quarter of 2016 was $4.4 million.

For the full year 2016, the limited partners' interest in net loss was $81.3 million, resulting in basic and diluted loss of $1.64 per limited partner diluted unit compared to net income attributable of $25.6 million or $0.73 per diluted share a year ago. The basic and diluted loss per unit for the year was negatively impacted by $34.0 million of impairments and other expenses primarily associated with the impairment of goodwill in the first quarter of 2016. The limited partners' interest in adjusted net loss, adjusted to exclude the impact of these non-recurring items, was $47.3 million for the full year 2016 representing a diluted adjusted loss of $0.95 per limited partner unit. LBITDA adjusted for the non-cash impairment of goodwill for the full year 2016 was $16.9 million. Revenues for the year ended December 31, 2016 totaled $204.4 million on sales of 4,253,746 tons of frac sand, compared to revenues of $339.6 million on sales of 5,003,702 tons of frac sand for the year ended December 31, 2015. For the year ended December 31, 2016, capital expenditures totaled $42.6 million related to costs associated with the completion of the Blair facility, completion of distribution terminal facilities in Colorado and Texas, and expansion of rail capacity at the Wyeville facility, among other projects. Loss from operations was $67,792,000 against income from operations of $39,694,000 a year ago. Cash used in operating activities was $26,644,000 against cash from operating activities of $83,649,000 a year ago. LBITDA was $50,666,000 compared to EBITDA of $54,584,000 for the same period a year ago.

The company provided guidance for 2017 capital expenditures in the range of $30.0 to $35.0 million related to equipment for the PropStream integrated logistics solution, terminal expansion and overburden removal, among other projects.