Englewood, Colorado – July 8, 2015 – Westmoreland Coal Company (NasdaqGM: WLB, “Westmoreland”) today affirmed its previously issued full year consolidated 2015 adjusted EBITDA of $235.0 to $270.0 million. Westmoreland also announced that its consolidated Q2 2015 adjusted EBITDA will meet its original, internal target for the quarter.
“At a time when many in the industry are experiencing tough headwinds, our predictable, cost-plus model continues to operate well,” noted Keith E. Alessi, Chief Executive Officer. “We look forward to speaking in detail to our results on July 24th.”
About Westmoreland Coal Company
Westmoreland Coal Company is the oldest independent coal company in the United States. Westmoreland’s coal operations include sub-bituminous and lignite surface coal mining in the Western United States and Canada, an underground bituminous coal mine in Ohio, a char production facility, and a 50% interest in an activated carbon plant. Westmoreland also owns the general partner of and a majority interest in Westmoreland Resource Partners, LP, formerly Oxford Resource Partners, LP, a publicly-traded coal master limited partnership. Its power operations include ownership of the two-unit ROVA coal-fired power plant in North Carolina. For more information, visit www.westmoreland.com.
Cautionary Note Regarding Forward-Looking Statements
This release may contain “forward-looking statements.” Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects” and similar references to future periods. These statements involve known and unknown risks, which may cause our actual results to differ materially from results expressed or implied by the forward looking statements. These risks include factors such as the uncertainty of negotiations to result in an agreement or a completed transaction, the uncertain nature of the expected benefits from the actual or expected acquisition, the uncertain nature of the announced acquisition, the ability to complete such transactions, the ability to extend the coal supply agreement past 2022, risks associated with the our industry or the economy generally, and other such matters discussed in the “Risk Factors” section Westmoreland’s 2014 Annual Report on Form 10-K and subsequent quarterly reports filed on Form 10-Q.
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Investor Contact: Kevin Paprzycki (855) 922-6463