Natural Resource Partners (NRP) Tops Q1 EPS by 45c, Revenues Beat

Natural Resource Partners (NYSE: NRP) reported Q1 EPS of $1.75, $0.45 better than the analyst estimate of $1.30. Revenue for the quarter came in at $67.04 million versus the consensus estimate of $62.3 million.

“NRP started the year with a solid quarter of financial results, continued robust cash flow generation and paid off $86 million of debt,” commented NRP’s President and Chief Operating Officer, Craig Nunez. “Additionally, in April we successfully refinanced our $100 million revolving credit facility, extending the maturity from 2020 to 2023, and we issued $300 million of 9.125% unsecured bonds due 2025, which will be used along with cash on hand to redeem our existing $346 million of 10.5% bonds later this month, lowering our total debt by an additional $46 million. We are pleased with the results of these transactions and remain committed to continue strengthening our balance sheet to further de-lever and de-risk the Partnership.”

For earnings history and earnings-related data on Natural Resource Partners (NRP) click here.

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