Steel Partners Holdings L.P. Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Third Quarter of 2018; Revises Earnings Guidance for the Full Year of 2018
For the six months, the company reported revenue of $800,682,000 compared to $681,710,000 a year ago. Income before income taxes and equity method investments was $10,098,000 compared to $23,512,000 a year ago. Net income attributable to common unitholders was $3,964,000 or $0.15 per basic and diluted share compared to $7,171,000 or $0.27 per basic and diluted share a year ago. Capital expenditures were $21,979,000 compared to $24,990,000 a year ago. Income before income taxes was $13,640,000 compared to $29,882,000 a year ago. Adjusted EBITDA was $98,837,000 compared to $80,704,000 a year ago.
The company expects 2018 third quarter revenue between $379 million and $440 million and adjusted EBITDA between $50 million and $61 million.
The company anticipates revenue for the full 2018 year between $1.6 billion and $1.7 billion and adjusted EBITDA between $198 million and $220 million, as compared with the company's previously reported annual guidance for the full 2018 year of revenue between $1.5 billion and $1.6 billion and adjusted EBITDA between $184 million and $225 million.