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Natural Resource (NRP) Q4 Earnings & Revenues Miss Estimates
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Natural Resource Partners LP (NRP - Free Report) reported fourth-quarter 2016 adjusted earnings of 91 cents per unit, down 60.6% from the prior-year quarter. The earnings also missed the Zacks Consensus Estimate of $1.59 by 42.7%.
Full-year 2016 earnings per unit of $6.68 per share were down 29.5% year over year.
Total Revenue
In the quarter under review, Natural Resource Partners’ total revenue of $88.1 million lagged the Zacks Consensus Estimate of $90 million by 2.6%. Lower revenue from Coal royalty and Equity in earnings of Ciner Wyoming can primarily be attributed for decreased quarterly revenues by 16.8% from the year-ago quarter.
Further, the partnership’s 2016 total revenue was down 9% year over year to $400.1 million.
Segment Details
Coal Royalty and Other segment revenues and other income in the reported quarter decreased 24.0% to $46.1 million from the $60.7 million reported in the year-ago quarter.
VantaCore segment revenue in the reported quarter was $32.7 million up 2.2%.
Soda Ash segment revenue was flat at $12.3 million compared with the year-ago quarter.
Natural Resource Partners LP Price, Consensus and EPS Surprise
In the fourth quarter, the coal produced from its leased asset amounted to 8.69 million tons down from 10.52 million tons in the year-ago quarter. Despite a minor increase of sales price of coal in some regions, the total royalty revenue was down by 1.1% from the year-ago period to $30.1 million.
Total operating expense in the reported quarter declined 14.4% to $61.0 million from $73.3 million in the prior-year quarter.
Operating income in the reported quarter is $27.1 million compared with $32.6 million recorded in the previous-year quarter.
Interest expenses increased 4.5% to $23.3 million from $22.3 million in the year-ago quarter.
Financial Condition
Natural Resource Partners had cash and cash equivalents of $40.4 million as of Dec 31, 2016, down from $41.2 million as of Dec 31, 2015.
Long-term debt was $987.4 million as of Dec 31, 2016, down from $1,186 million as of Dec 31, 2015.
In the quarter under review, cash from operating activities was $25.2 million, down 40.1% from $42.1 million in the prior-year period.
Distributable cash flow of $199.5 million for the calendar year 2016 declined $18.3 million from 2015 mainly owing to the change in net cash provided by operating activities of continuing operations.
Peer Releases
Alliance Resource Partners LP (ARLP - Free Report) reported fourth-quarter 2016 adjusted earnings of $1.30 per share, outpacing the Zacks Consensus Estimate of 86 cents by 51.16%. The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Arch Coal Inc. (ARCH - Free Report) reported fourth-quarter 2016 adjusted earnings of $1.65 per share, outpacing the Zacks Consensus Estimate of 3 cents by 5400.0%. The stock flaunts a Zacks Rank #1.
Alliance Holding GP L.P. reported fourth-quarter 2016 adjusted earnings of $1.02 per share, outpacing the Zacks Consensus Estimate of 77 cents by 32.47%. The stock sports a Zacks Rank #1.
Zacks Rank
Natural Resource Partners currently carries a Zacks Rank #3 (Hold).
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Natural Resource (NRP) Q4 Earnings & Revenues Miss Estimates
Natural Resource Partners LP (NRP - Free Report) reported fourth-quarter 2016 adjusted earnings of 91 cents per unit, down 60.6% from the prior-year quarter. The earnings also missed the Zacks Consensus Estimate of $1.59 by 42.7%.
Full-year 2016 earnings per unit of $6.68 per share were down 29.5% year over year.
Total Revenue
In the quarter under review, Natural Resource Partners’ total revenue of $88.1 million lagged the Zacks Consensus Estimate of $90 million by 2.6%. Lower revenue from Coal royalty and Equity in earnings of Ciner Wyoming can primarily be attributed for decreased quarterly revenues by 16.8% from the year-ago quarter.
Further, the partnership’s 2016 total revenue was down 9% year over year to $400.1 million.
Segment Details
Coal Royalty and Other segment revenues and other income in the reported quarter decreased 24.0% to $46.1 million from the $60.7 million reported in the year-ago quarter.
VantaCore segment revenue in the reported quarter was $32.7 million up 2.2%.
Soda Ash segment revenue was flat at $12.3 million compared with the year-ago quarter.
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 fourth quarter, the coal produced from its leased asset amounted to 8.69 million tons down from 10.52 million tons in the year-ago quarter. Despite a minor increase of sales price of coal in some regions, the total royalty revenue was down by 1.1% from the year-ago period to $30.1 million.
Total operating expense in the reported quarter declined 14.4% to $61.0 million from $73.3 million in the prior-year quarter.
Operating income in the reported quarter is $27.1 million compared with $32.6 million recorded in the previous-year quarter.
Interest expenses increased 4.5% to $23.3 million from $22.3 million in the year-ago quarter.
Financial Condition
Natural Resource Partners had cash and cash equivalents of $40.4 million as of Dec 31, 2016, down from $41.2 million as of Dec 31, 2015.
Long-term debt was $987.4 million as of Dec 31, 2016, down from $1,186 million as of Dec 31, 2015.
In the quarter under review, cash from operating activities was $25.2 million, down 40.1% from $42.1 million in the prior-year period.
Distributable cash flow of $199.5 million for the calendar year 2016 declined $18.3 million from 2015 mainly owing to the change in net cash provided by operating activities of continuing operations.
Peer Releases
Alliance Resource Partners LP (ARLP - Free Report) reported fourth-quarter 2016 adjusted earnings of $1.30 per share, outpacing the Zacks Consensus Estimate of 86 cents by 51.16%. The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Arch Coal Inc. (ARCH - Free Report) reported fourth-quarter 2016 adjusted earnings of $1.65 per share, outpacing the Zacks Consensus Estimate of 3 cents by 5400.0%. The stock flaunts a Zacks Rank #1.
Alliance Holding GP L.P. reported fourth-quarter 2016 adjusted earnings of $1.02 per share, outpacing the Zacks Consensus Estimate of 77 cents by 32.47%. The stock sports a Zacks Rank #1.
Zacks Rank
Natural Resource Partners currently carries a Zacks Rank #3 (Hold).
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