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NRP Reports Mixed Results for First Quarter

Natural Resource Partners (NRP) reported first quarter 2015 revenues of $109.7 million, resulting in net income per unit of $0.14 compared to $80.3 million in revenues and net income per unit of $0.29 reported for the first quarter 2014. Distributable cash flow was $53.3 million in the first quarter 2015 compared to $38.9 million for 2014. NRP also reported Adjusted EBITDA of $64.2 million for first quarter 2015 versus $69.0 million for first quarter 2014.

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Nonresidential Building Index Rises

The Dodge Momentum Index rose 0.8 percent in April to 122.6 (2000=100) from March’s 121.6, according to Dodge Data & Analytics. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.

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Congress Fails Nation; Proposes Transportation Cuts

For the first time in six years, the House and Senate have come together to pass a joint budget resolution. Their achievement is overshadowed by a proposed 22 percent reduction in surface transportation funding based upon current revenue projections for the Highway Trust Fund.

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NSSGA Talks Regulatory Burden with Congress

The National Stone, Sand and Gravel Association (NSSGA) shared comments with the Senate Committee on Homeland Security and Government Reform in response to a request from Chairman Ron Johnson (R-Wisc.), ranking committee Democrat Tom Carper (D-Del.), and Subcommittee on Regulatory Affairs & Federal Management Subcommittee Chairman James Lankford (R-Okla.), and ranking subcommittee Democrat Heidi Heitkamp (D-N.D.), for a review that the committee has undertaken on the impact of federal regulations.

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