Westmoreland Coal Company announced unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported revenues of $354.721 million against $371.483 million a year ago. Operating income was $11.538 million against $8.455 million a year ago. Loss before income taxes was $17.849 million against $11.838 million a year ago. Net income applicable to common shareholders was $30.584 million or $1.67 per basic and diluted share against net loss applicable to common shareholders of $11.732 million or $0.67 per basic and diluted share a year ago. Net cash provided by operating activities was $18.241 million against $1.640 million a year ago. Additions to property, plant and equipment was $5.548 million against $13.027 million a year ago. EBITDA was $51.882 million against $55.594 million a year ago. Adjusted EBITDA was $62.957 million against $56.027 million a year ago. Free cash flow was $14.001 million against negative free cash flow of $9.840 million a year ago.

For the full-year 2016, the company announced that after taking into account the current market conditions, the company still expects to achieve the guidance the company issued in February. The company has visibility into its cash flow stream because the company entered in 2016 with nearly 90% of its tons under cost-protected contracts. The company's cash generation, considering normal seasonality, will strengthen following the second quarter which typically experiences the year's lowest energy demand. The company will look to reduce debt later in the year with its increased cash flow. The company expects coal tons sold of 53 million tons - 60 million tons. Adjusted EBITDA expected in the range of $235 million - $275 million. Free cash flow expected in the range of $60 million - $80 million. Capital expenditures expected in the range of $59 million - $71 million. Cash interest expected approximately $90 million.