Natural Resource Partners Q3 profit declines on lower soda ash pricing
NRP•Natural Resource Partners reported Q3 net income of $26.5 million and free cash flow of $44.8 million. The company cited lower soda ash prices and no distributions from Sisecam Wyoming as factors reducing segment net income.
1. Quarterly results
Natural Resource Partners reported Q3 net income of $26.5 million and free cash flow of $44.8 million. It said increased thermal coal sales volumes and improved prices and volumes at certain metallurgical properties contributed to higher operating and free cash flow, while reduced debt lowered interest expense.
2. Market outlook
The company expects continued pressure on metallurgical coal pricing due to weak global steel demand, does not expect meaningful change to thermal coal pricing in 2027, and does not expect the soda ash market to recover in the near term. It fully repaid its credit facility, with $14.3 million of debt remaining due in December 2026.
