Emerge Energy Services LP reported consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company's total revenues were $101,842,000 compared to $82,602,000 a year ago. Despite the 6% increase in volumes sequentially in the second quarter, net revenues decreased due to a decrease in the higher priced, terminal sales volumes. Operating income was $16,447,000 compared to loss of $1,351,000 a year ago. Income from continuing operations before provision for income taxes was $9,481,000 compared to loss of $3,425,000 a year ago. Net income from continuing operations was $9,428,000 compared to loss of $3,425,000 a year ago. Net income was $9,428,000 compared to loss of $6,082,000 a year ago. Adjusted EBITDA was $23,362,000 compared to $7,534,000 a year ago. Diluted earnings per common unit from continuing operations was $0.30 compared to loss per share of $0.21 a year ago. Diluted earnings per common unit was $0.30 compared to loss per share of $0.30 a year ago. EBITDA was $21,572,000 compared to $4,675,000 a year ago. Cash flows from operating activities was $25,358,000 compared to $5,766,000 a year ago. The sequential increase in net income was driven by the improvements in volumes sold, higher sand prices and lower logistics-related costs. Capital expenditures for the second quarter totaled $25.7 million, substantially all of which was growth. Most of the growth CapEx for the quarter was directed towards the new San Antonio plant and a portion was applied to Oklahoma for equipment and construction down payment.

For the six months, the company's total revenues were $208,592,000 compared to $157,946,000 a year ago. Operating income was $27,834,000 compared to loss of $8,852,000 a year ago. Income from continuing operations before provision for income taxes was $11,064,000 compared to loss of $14,815,000 a year ago. Net income from continuing operations was $10,914,000 compared to loss of $14,815,000 a year ago. Net income was $10,914,000 compared to loss of $17,472,000 a year ago. Adjusted EBITDA was $40,748,000 compared to $7,602,000 a year ago. Diluted earnings per common unit from continuing operations was $0.35 compared to loss per share of $0.57 a year ago. Diluted earnings per common unit was $0.35 compared to loss per share of $0.66 a year ago. EBITDA was $38,508,000 compared to $1,139,000 a year ago. Cash flows from operating activities was $36,102,000 compared to cash flows used in operating activities of $7,173,000 a year ago. The company has spent over $55 million of capital expenditures for the first six months of the year 2018, including $1 million for capitalized interest.

The company updating its 2018 full year guidance to $110 million for adjusted EBITDA and $50 million for net income. The company's updated full year 2018 capital expenditures range is $80 million to $90 million.