Foresight Energy LP (NYSE:FELP) Q4 2018 Earnings Conference Call Transcript
Feb 27, 2019 • 02:00 pm ET
Ladies and gentlemen, thank you for standing by, and welcome to the Fourth Quarter and Full Year 2018 Earnings Call. At this time, all participants are in a listen-only mode. And later we will conduct a question-and-answer session, instructions will be given at that time. (Operator Instructions) As a reminder, this conference is being recorded.
I will now turn the call over to your host, Mr. Jeremy Harrison. Please go ahead, sir.
Jeremy J. Harrison
Thank you, Twanda, and welcome everyone to Foresight Energy's earnings call for the fourth quarter and year ended 2018. With me today is Rob Moore, our President and Chief Executive Officer. Today, we will discuss Foresight Energy's operating and financial results for the fourth quarter and year ended 2018, and update you on the current operations at our coal mines. Following our prepared remarks, we will open up the call to your questions.
Please note that this call contains forward-looking statements that are based upon our current expectations and beliefs concerning future developments and their potential effect on us, and there can be no assurance that the future developments affecting us will be those that we anticipate. Our business and our financial results involve risk and uncertainties that could cause actual results to differ materially from our current expectations. For additional information regarding such risks, please see our annual and quarterly reports filed with the SEC and posted on our website.
During the call today, we will also discuss non-GAAP financial measures, including guidance with respect to adjusted EBITDA. Please refer to our earnings release for reconciliations to the most comparable generally accepted accounting principles for historical periods. Also, this call includes only information that is available to us at this time. To the extent you are listening to this call at a later date, please note that the information may be outdated or incomplete. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except as required by law.
I will now turn the call over to Rob Moore. Rob?
Robert D. Moore
Thank you, Jeremy. Good afternoon, everyone, and thank you for being with us today. This morning, Foresight Energy announced its very good fourth quarter and full year financial results for 2018. During the quarter, Foresight sold over 6.1 million tons of thermal coal and generated total revenue of approximately $299 million, which resulted in adjusted EBITDA of nearly $87 million. These results reflect continued improvement in our year-over-year and sequential quarter sales volumes, sales realization per ton sold and sales revenue. Our fourth quarter results were the capstone of another successful year for Foresight, in which we capitalized on strong export markets and improved domestic spot opportunities to achieve record sales volumes of 23.4 million tons, total revenue of $1.1 billion, and adjusted EBITDA of over $313 million.
During the fourth quarter, we safely and efficiently produced over 6 million tons compared to approximately 5 million tons in the