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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.

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.

NATURAL RSRC LP Price, Consensus and EPS Surprise

 

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. (CLD - Free Report) 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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