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Natural Resource (NRP) Earnings Slide, Revenues Top in Q3
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Natural Resource Partners LP (NRP - Free Report) reported third-quarter 2016 adjusted earnings of $1.26 per unit, down 49.6% from the prior-year quarter.
Coal-related revenues decreased 18.4% to $48.9 million from $59.9 million a year ago.
Total operating expenses in the reported quarter declined 86% to $58.9 million from $421.9 million in the prior-year quarter.
Operating income in the reported quarter is $38.9 million as compared to an operation loss of $307.8 million recorded in the previous year quarter.
Interest expenses decreased 1.8% to $22.5 million from $22.9 million in the year-ago quarter.
Financial Condition
Natural Resource Partners had cash and cash equivalents of $92.4 million as of Sep 30, 2016, down from $41.2 million as of Dec 31, 2015.
Long-term debt was $1,042 million as of Sep 30, 2016, down from $1,207 million as of Dec 31, 2015.
In the quarter under review, cash from operating activities was $35.9 million, down 23.9% from $47.2 million in the prior-year period.
Distributable cash flow increased 188.2% to $156.2 million from $54.2 million in the prior-year quarter.
Peer Releases
Alliance Resource Partners LP (ARLP - Free Report) reported third-quarter 2016 adjusted earnings of 91 cents per share, outpacing the Zacks Consensus Estimate of 80 cents by 13.75%. The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cloud Peak Energy Inc. reported third-quarter 2016 adjusted earnings of 6 cents per share, while the Zacks Consensus Estimate was a loss of 12 cents. The stock carries a Zacks Rank #1.
SunCoke Energy Inc. (SXC - Free Report) reported third-quarter 2016 adjusted earnings of 7 cents per share, while the Zacks Consensus Estimate was a loss of 9 cents. The stock has a Zacks Rank #1.
Zacks Rank
Natural Resource Partners LP currently carries a Zacks Rank #3 (Hold).
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Natural Resource (NRP) Earnings Slide, Revenues Top in Q3
Natural Resource Partners LP (NRP - Free Report) reported third-quarter 2016 adjusted earnings of $1.26 per unit, down 49.6% from the prior-year quarter.
Total Revenue
In the quarter under review, Natural Resource Partners’ total revenue of $97.9 million exceeded the Zacks Consensus Estimate of $85 million by 15.2%.
Lower revenue from Coal royalty, VantaCore and Equity in earnings of Ciner Wyomingdecreased quarterly revenues by 14.2% from the year-ago quarter.
Segment Details
Revenues at the Soda Ash segment tanked 14% to $10.8 million from $12.6 million a year ago.
Revenues at the VantaCore segment were down 19.8% to $31.8 million from $39.6 million a year ago.
Revenues at the Coal Royalty and Other segment tanked 18.4% to $48.9 million from $59.9 million a year ago.
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Highlights of the Release
Coal-related revenues decreased 18.4% to $48.9 million from $59.9 million a year ago.
Total operating expenses in the reported quarter declined 86% to $58.9 million from $421.9 million in the prior-year quarter.
Operating income in the reported quarter is $38.9 million as compared to an operation loss of $307.8 million recorded in the previous year quarter.
Interest expenses decreased 1.8% to $22.5 million from $22.9 million in the year-ago quarter.
Financial Condition
Natural Resource Partners had cash and cash equivalents of $92.4 million as of Sep 30, 2016, down from $41.2 million as of Dec 31, 2015.
Long-term debt was $1,042 million as of Sep 30, 2016, down from $1,207 million as of Dec 31, 2015.
In the quarter under review, cash from operating activities was $35.9 million, down 23.9% from $47.2 million in the prior-year period.
Distributable cash flow increased 188.2% to $156.2 million from $54.2 million in the prior-year quarter.
Peer Releases
Alliance Resource Partners LP (ARLP - Free Report) reported third-quarter 2016 adjusted earnings of 91 cents per share, outpacing the Zacks Consensus Estimate of 80 cents by 13.75%. The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cloud Peak Energy Inc. reported third-quarter 2016 adjusted earnings of 6 cents per share, while the Zacks Consensus Estimate was a loss of 12 cents. The stock carries a Zacks Rank #1.
SunCoke Energy Inc. (SXC - Free Report) reported third-quarter 2016 adjusted earnings of 7 cents per share, while the Zacks Consensus Estimate was a loss of 9 cents. The stock has a Zacks Rank #1.
Zacks Rank
Natural Resource Partners LP currently carries a Zacks Rank #3 (Hold).
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>