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.
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.
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.
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.
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.
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.(AHGP - Free Report) 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.
Natural Resource Partners currently carries a Zacks Rank #3 (Hold).
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