Natural Resource Partners LP (NRP - Free Report) reported first-quarter 2018 adjusted earnings of $1.16 per unit, missing the Zacks Consensus Estimate of $1.26 by 8%. The figure improved from the year-ago quarter’s tally.
In the quarter under review, Natural Resource’s total revenues of $89 million missed the Zacks Consensus Estimate of $99 million by 10.1% and were in line with the year-ago quarter’s figure.
The Coal Royalty and Other segment’s revenues and other income (excluding gains on asset sales) fell 2.1% year over year to $52.24 million.
The Construction Aggregates segment’s revenues in the first quarter were $27.2 million, down nearly 0.3% from the prior-year quarter’s level.
Revenues in Soda Ash segment was $9.6 million down from $10.3 million in the prior-year quarter.
Highlights of the Release
Total coal production in the reported quarter was 6292 tons down from 8434 tons in the prior-year quarter. In the first quarter, combined average coal royalty revenue per ton was $4.93 down from $3.98 in the year-ago quarter.
Total operating expenses in the reported quarter were down 13% to $45 million from $51.7 million in the prior-year quarter.
Interest expenses dropped 22.2% to $18 million from $23.1million in the year-ago quarter.
Natural Resource Partners had cash and cash equivalents of $21.1 million as of Mar 31, 2018, down from $29.8 million as of Dec 31, 2017.
The partnership continues to lower outstanding debt levels. Long-term debt was $724.8 million as of Mar 31, 2018, down from $729.6 million as of Dec 31, 2017.
Cash provided from operating activities in first quarter was $19.7 million, down from $20.2 million in the prior-year quarter.
Natural Resource carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Coal industry Stocks
CONSOL Coal Resources LP’s (CCR - Free Report) first-quarter 2018 adjusted earnings per unit of 78 cents, which beat the Zacks Consensus Estimate of 43 cents by 81.4%.
Cloud Peak Energy (CLD - Free Report) reported a loss of 10 cents in first-quarter 2018, wider than the Zacks Consensus Estimate of a loss of 8 cents.
Arch Coal Inc. (ARCH - Free Report) reported first-quarter 2018 operating earnings of $2.95 per share, missing the Zacks Consensus Estimate of $4.00 by 26.25%.
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