Natural Resource Partners L.P. (NRP) reported third quarter 2017 net income of $26.1 million and net income attributable to the common unitholders and general partner of $18.4 million, which equated to $1.48 and $1.07 basic and diluted net income per common unit, respectively. NRP also generated Adjusted EBITDA of $58.1 million.
Revenues for its Construction Aggregates division were up for the quarter, the year and year-over-year.
While operating performance was in line with the previous quarter, performance improved compared to Q3 2016 as a result of increased production and sales volumes, higher margins on road construction and asphalt paving projects and increased marine terminal activity. DCF was lower in Q3 2017 due to temporary timing differences in cash receipts and payments that we expect to reverse during the remainder of the year.
Craig Nunez, president and chief operating officer, commented: “I am pleased with our recent performance. We continue to generate substantial amounts of cash from operations and our third quarter results have considerably improved compared to prior year levels. In addition, we continue to strengthen our balance sheet and have reduced debt $294.4 million during 2017. Compared to the prior quarter, our results were reflective of the steady performances from our Coal Royalty, Soda Ash and Construction Aggregates segments.”