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CNX Resources Corporation. (CNX) - free report >>
Natural Resource Partners LP (NRP) - free report >>
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Natural Resource (NRP) Q2 Earnings Up Y/Y, Revenues Top
Natural Resource Partners LP (NRP - Free Report) reported second-quarter 2016 adjusted earnings of $3.90 per unit, up 38.3% from the prior year quarter. The bottom line was driven by proactive management of coal assets, and recovery in thermal and metallurgical coal prices.
Net income for the reported quarter stood at $46.4 million, up 42.3% from $32.6 million.
Total Revenue
In the quarter under review, Natural Resource Partners’ total revenue of $118.2 million exceeded the Zacks Consensus Estimate of $95 million by 24.4%. Quarterly revenues, however, declined 4.5% from the year-ago quarter.
Segment Details
Revenues at the Soda Ash segment tanked 12% to $10.2 million from $11.6 million a year ago.
Revenues at the VantaCore segment were down 22.2% to $31.6 million from $40.6 million a year ago.
Oil & Gas revenues surged 22.2% to $1.1 million from $0.9 million a year ago.
NATURAL RSRC LP Price, Consensus and EPS Surprise
NATURAL RSRC LP Price, Consensus and EPS Surprise | NATURAL RSRC LP Quote
Highlights of the Release
Coal-related revenues increased13.9% to $76.4 million from $67.1 million a year ago
Total operating expenses in the reported quarter declined 27.4% to $47.5 million from $65.4 million in the prior-year quarter.
Financial Condition
Natural Resource Partners had cash and cash equivalents of $21.4 million as of Jun 30, 2016, down from $41.2 million as of Dec 31, 2015.
Long-term debt was $1,051 million as of Jun 30, 2016, down from $1,207 million as of Dec 31, 2015.
In the quarter under review, cash from operating activities was $23.2 million, down 46.5% from $43.4 million in the prior-year period.
Distributable cash flow decreased44% to $25.3 million from $45.2 million in the prior-year quarter.
Peer Releases
CONSOL Energy Inc. (CNX - Free Report) reported adjusted loss of 21 cents per share for the second quarter of 2016, wider than the Zacks Consensus Estimate of a loss of 17 cents.
CNX Coal Resources LP’s (CNXC - Free Report) second-quarter 2016 adjusted earnings of 11 cents per unit missed the Zacks Consensus Estimate of 19 cents by 42.1%
SunCoke Energy Inc. (SXC - Free Report) posted second-quarter 2016 adjusted loss of 5 cents per share, wider than the Zacks Consensus Estimate of a penny.
Zacks Rank
Natural Resource Partners currently has a Zacks Rank #4 (Sell).
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