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Natural Resource Partners LP (NRP - Free Report) reported third-quarter 2017 adjusted earnings of 59 cents per unit, missing the Zacks Consensus Estimate of 92 cents by 35.9%.
Total Revenues
In the quarter under review, Natural Resource Partners’ total revenues of $93.3 million surpassed the Zacks Consensus Estimate of $90 million by 3.7%. However, revenues were down from the year-ago figure of $97.9 million by 4.7%.
Segment Details
Coal Royalty and Other segment’s revenues and other income (excluding gains on asset sales) in the third quarter increased 1.1% to $49.4 million from $48.9 million in the year-ago period.
Soda Ash segment’s revenues were nearly $9 million in the third quarter, down 15.9% from the year-ago period.
Construction Aggregates segment’s revenues in the third quarter were $34.7 million, up nearly 9.5% year-over-year.
Natural Resource Partners LP Price, Consensus and EPS Surprise
In the third quarter, coal produced from the company’s leased asset amounted to 5.93 million tons, down19.9% from 7.4 million tons in the year-ago quarter. Despite an improvement in per ton coal royalty revenues in all regions, the drop in production volumes led to an year-over-year decline in coal royalty revenues.
Total operating expenses in the reported quarter were down 20.5% to $46.8 million from $58.9 million in the prior-year quarter.
Interest expenses dropped 10.7% to $20.1 million from $22.5 million in the year-ago quarter.
Financial Condition
Natural Resource Partners had cash and cash equivalents of $121.3 million as of Sep 30, 2017, up considerably from $40.4 million as of Dec 31, 2016.
The partnership continues to lower outstanding debt levels. Long-term debt was $762.4 million as of Sep 30, 2017, down from $987.4 million as of Dec 31, 2016.
In the first nine months of 2017, cash from operating activities was $81.4 million, up 9.1% from $74.6 million in the prior-year period.
Other operators in the Zacks Coal industry like Cloud Peak Energy , SunCoke Energy Partners, L.P. and SunCoke Energy (SXC - Free Report) surpassed their respective Zacks Consensus Estimate in third-quarter earnings.
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Natural Resource's (NRP) Q3 Earnings Miss, Revenues Beat
Natural Resource Partners LP (NRP - Free Report) reported third-quarter 2017 adjusted earnings of 59 cents per unit, missing the Zacks Consensus Estimate of 92 cents by 35.9%.
Total Revenues
In the quarter under review, Natural Resource Partners’ total revenues of $93.3 million surpassed the Zacks Consensus Estimate of $90 million by 3.7%. However, revenues were down from the year-ago figure of $97.9 million by 4.7%.
Segment Details
Coal Royalty and Other segment’s revenues and other income (excluding gains on asset sales) in the third quarter increased 1.1% to $49.4 million from $48.9 million in the year-ago period.
Soda Ash segment’s revenues were nearly $9 million in the third quarter, down 15.9% from the year-ago period.
Construction Aggregates segment’s revenues in the third quarter were $34.7 million, up nearly 9.5% year-over-year.
Natural Resource Partners LP Price, Consensus and EPS Surprise
Natural Resource Partners LP Price, Consensus and EPS Surprise | Natural Resource Partners LP Quote
Highlights of the Release
In the third quarter, coal produced from the company’s leased asset amounted to 5.93 million tons, down19.9% from 7.4 million tons in the year-ago quarter. Despite an improvement in per ton coal royalty revenues in all regions, the drop in production volumes led to an year-over-year decline in coal royalty revenues.
Total operating expenses in the reported quarter were down 20.5% to $46.8 million from $58.9 million in the prior-year quarter.
Interest expenses dropped 10.7% to $20.1 million from $22.5 million in the year-ago quarter.
Financial Condition
Natural Resource Partners had cash and cash equivalents of $121.3 million as of Sep 30, 2017, up considerably from $40.4 million as of Dec 31, 2016.
The partnership continues to lower outstanding debt levels. Long-term debt was $762.4 million as of Sep 30, 2017, down from $987.4 million as of Dec 31, 2016.
In the first nine months of 2017, cash from operating activities was $81.4 million, up 9.1% from $74.6 million in the prior-year period.
Zacks Rank
Natural Resource Partners currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of the Peers
Other operators in the Zacks Coal industry like Cloud Peak Energy , SunCoke Energy Partners, L.P. and SunCoke Energy (SXC - Free Report) surpassed their respective Zacks Consensus Estimate in third-quarter earnings.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>