Natural Resource Partners L.P. Announces 2016 Fourth Quarter and Full Year Results and Completion of Recapitalization Transactions

NRP reported net income from continuing operations attributable to the limited partners for the quarter ended December 31, 2016 of $3.8 million, or $0.31 per unit, a $5.8 million decrease from the $9.6 million, or $0.79 per unit reported for the fourth quarter 2015.  This decline is primarily attributed to coal lease assignment fees of $15 million that were reported in the fourth quarter of 2015. Net cash provided by operating activities from continuing operations was $26.1 million in the fourth quarter of 2016 compared to $36.3 million for the fourth quarter of 2015.  Adjusted EBITDA for the fourth quarter of 2016 was $51.1 million compared to $64.6 million in the same quarter 2015. Excluding impairments and gains on sale of assets in both fourth quarters, net income from continuing operations attributable to the limited partners was $11.1 million for the quarter ended December 31, 2016 compared to $28.3 million for the quarter ended December 31, 2015.

"Although 2016 was a challenging year for the coal industry, NRP enters 2017 as a much stronger company," said Wyatt Hogan, President and Chief Operating Officer.  "The recent improvements in the markets for both metallurgical and thermal coal, combined with the continued balance and diversification of our soda ash and aggregates businesses, position NRP well for the new year."

"Our successful deleveraging efforts throughout the course of 2016 culminated in the recently announced investments in NRP by Blackstone and GoldenTree, as well as the extensions of our 2018 debt maturities," said Craig Nunez, Chief Financial Officer.  "We look forward to working with our new partners to continue to improve our balance sheet and explore new opportunities to grow and diversify the partnership."

Business Results and Outlook

The table below presents NRP's business results by segment for the year ended December 31, 2016 and 2015:

		Operating Business Segments
		Coal Royalty  and Other												Corporate and Financing
						Soda Ash				VantaCore								Total
		(In thousands)
Year Ended December 31, 2016
Total revenues and other income		$	239,183			$	40,061			$	120,815			$	—			$	400,059
Total operating expenses excluding impairments (1)		$	61,656			$	—			$	115,162			$	20,570			$	197,388
Asset impairments		$	15,861			$	—			$	1,065			$	—			$	16,926
Net income (loss) from continuing operations		$	161,816			$	40,061			$	4,438			$	(111,101)			$	95,214
Adjusted EBITDA (1)		$	209,443			$	46,550			$	20,009			$	(20,531)			$	255,471
Net cash provided by (used in) operating activities of continuing operations		$	134,490			$	46,550			$	20,400			$	(100,797)			$	100,643
Net cash provided by (used in) investing activities of continuing operations		$	65,057			$	—			$	(5,114)			$	—			$	59,943
Net cash provided by (used in) financing activities of continuing operations Werbung Mehr Nachrichten zur Natural Resource Partners Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 10:00 - PR Newswire Moonpig Group Plc - Holding(s) in Company 08:54 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Spirent Communications PLC SolarBank    Wie die Revolution der sauberen Energie eine solide Investitionsmöglichkeit bieten könnte weiterlesen» Anzeige wo-site-teaser-box-16755_site-teaser-box_2024-04-25_09%253A00%253A00_2024-04-26_09%253A00%253A59