PVR Partners Q2 Profit Down - Quick Facts

(RTTNews) - PVR Partners L.P. (PVR) posted second-quarter net income of $5.51 million, down from $7.81 million in the prior year quarter. Loss per common unit widened to $0.21 from $0.07 last year.

Total revenues for the quarter grew to $273.46 million from $222.91 million in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report revenues of $280.62 million for the quarter. Analysts' estimates typically exclude special items.

The Board of Directors of PVR GP, LLC, the general partner of PVR, declared a quarterly distribution of $0.55 per unit payable in cash on August 14, 2013 to common unitholders of record at the close of business on August 7, 2013. This distribution equates to an annualized rate of $2.20 per unit, which is unchanged from the distribution paid with respect to the first quarter of 2013 and represents a 3.8% increase over the distribution paid with respect to the second quarter of 2012.

The company has updated its Adjusted EBITDA guidance for 2013. Full year 2013 Adjusted EBITDA for the Eastern Midstream Segment is now expected to be in the range of $160 million to $185 million and the Midcontinent Midstream Segment is now expected to be in the range of $60 million to $70 million. Adjusted EBITDA for the Coal and Natural Resource Management Segment in the range of $75 to $85 million remains unchanged. The company now anticipates that full year 2013 maintenance capital expenditures will be in the range of $13 to $15 million. PVR's expectation for full year 2013 internal growth capital in the range of $350 to $400 million remains unchanged.