Time New York: Fri 24 Nov 02:38 am  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

Natural Resource (NRP) Misses Q2 Earnings, Revenues Beat

Zacks

Natural Resource Partners LP NRP reported second-quarter 2017 adjusted earnings of $1.13 per unit, missing the Zacks Consensus Estimate of $1.44 by 21.5%.

Total Revenue

In the quarter under review, Natural Resource Partners’ total revenue of $94.9 million surpassed the Zacks Consensus Estimate of $93 million by 2.1%.

Segment Details

Coal Royalty and Other segment’s revenues and other income (excluding gains on asset sales) in the first half of 2017 decreased 13.8% to $100.7 million from $116.9 million in the year-ago period.

Soda Ash segment’s revenues were $18.7 million in the first half, down 6% from the year-ago period.

Construction Aggregates segment’s revenues in the first half were $60.8 million, up nearly 8.0%.

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 second quarter, coal produced from the company’s leased asset amounted to 6.47 million tons, up 0.3% from 6.45 million tons in the year-ago quarter. Thanks to the improvement in metallurgical coal prices, coal royalty revenues improved from the last-year period.

Total operating expenses in the reported quarter were down 6.3% to $44.5 million from $47.5 million in the prior-year quarter.

Interest expenses dropped 7.7% to $20.4 million from $22.1 million in the year-ago quarter.

Financial Condition

Natural Resource Partners had cash and cash equivalents of $40.7 million as of Jun 30, 2017, up marginally from $40.4 million as of Dec 31, 2016.

The partnership continues to lower outstanding debt levels. Long-term debt was $700.2 million as of Jun 30, 2017, down from $987.4 million as of Dec 31, 2016.

In the quarter, cash from operating activities was $34.8 million, up 95.5% from $17.8 million in the prior-year period.

Zacks Rank

Natural Resource Partners currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of the Peers

Other operators in the industry like CONSOL Energy CNX, Alliance Resource Partners LP ARLP and SunCoke Energy SXC surpassed their respective Zacks Consensus Estimate in second-quarter earnings.

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

Zacks Investment Research
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.