======= ====== ======== ========
Less: proceeds
from asset
sales and
disposals (4,809) -- -- (4,809)
------- ------ -------- --------
Free cash flow $181,572 $28,002 $ (25,322) $ 184,252
======= ====== ======== ========
Net cash provided
by investing
activities $ 6,788 $ -- $ -- $ 6,788
Net cash used in
financing
activities $ (1,086) $ -- $(169,064) $(170,150)
For the Nine
Months Ended
September 30,
2023
Net cash provided
by (used in)
operating
activities $189,836 $65,901 $ (22,545) $ 233,192
Add: proceeds
from asset
sales and
disposals 961 -- -- 961
Add: return of
long-term
contract
receivable 1,830 -- -- 1,830
Less:
maintenance
capital
expenditures -- -- (10) (10)
------- ------ -------- --------
Distributable
cash flow $192,627 $65,901 $ (22,555) $ 235,973
======= ====== ======== ========
Less: proceeds
from asset
sales and
disposals (961) -- -- (961)
------- ------ -------- --------
Free cash flow $191,666 $65,901 $ (22,555) $ 235,012
======= ====== ======== ========
Net cash provided
by (used in)
investing
activities $ 2,791 $ -- $ (10) $ 2,781
Net cash used in
financing
activities $ $(583.SI)$ $ -- $(256,070) $(256,653)
Natural Resource Partners L.P.
Reconciliation of Non-GAAP Measures
(Unaudited)
Last Twelve Months $(LTM)$ Free Cash Flow
For the Three Months Ended
-----------------------------------------
December March
31, 31, June 30, September Last 12
(In thousands) 2023 2024 2024 30, 2024 Months
--------------- -------- -------- -------- ----------- -----------
Net cash
provided by
operating
activities $77,786 $71,499 $56,629 $ 54,145 $260,059
Add: proceeds
from asset
sales and
disposals 2,002 165 4,643 1 6,811
Add: return
of long-term
contract
receivable 633 647 659 673 2,612
------ ------ ------ ------ -------
Distributable
cash flow $80,421 $72,311 $61,931 $ 54,819 $269,482
Less:
proceeds
from asset
sales and
disposals (2,002) (165) (4,643) (1) (6,811)
------ ------ ------ ------ -------
Free cash flow $78,419 $72,146 $57,288 $ 54,818 $262,671
====== ====== ====== ====== =======
Leverage Ratio
For the Three Months Ended
------------------------------------------
March
December 31, June 30, September Last 12
(In thousands) 31, 2023 2024 2024 30, 2024 Months
------------------ --------- -------- -------- ----------- -----------
Net income $ 64,980 $56,213 $46,064 $ 38,595 $205,852
Less: equity
earnings from
unconsolidated
investment (14,764) (5,450) (3,645) (8,109) (31,968)
Add: total
distributions
from
unconsolidated
investment 15,338 14,210 7,584 6,320 43,452
Add: interest
expense, net 3,921 3,487 4,349 4,194 15,951
Add:
depreciation,
depletion and
amortization 6,020 4,654 3,324 4,730 18,728
Add: asset
impairments 424 -- -- 87 511
------- ------ ------ ------ -------
Adjusted EBITDA $ 75,919 $73,114 $57,676 $ 45,817 $252,526
======= ====== ====== ====== =======
Debt--at September
30, 2024 $197,678
Leverage Ratio 0.8 x
For the Three Months Ended
------------------------------------------
December March 31, June 30, September Last 12
(In thousands) 31, 2022 2023 2023 30, 2023 Months
------------------ --------- --------- --------- --------- -----------
Net income $ 63,218 $ 79,275 $ 70,334 $ 63,846 $276,673
Less: equity
earnings from
unconsolidated
investment (15,759) (19,254) (26,978) (12,401) (74,392)
Add: total
distributions
from
unconsolidated
investment 10,780 10,780 32,350 23,010 76,920
Add: interest
expense, net 3,638 2,853 3,492 3,837 13,820
Add: loss on
extinguishment
of debt 3,933 -- -- -- 3,933
Add:
depreciation,
depletion and
amortization 5,954 4,083 3,792 4,594 18,423
Add: asset
impairments 3,583 -- 69 63 3,715
------- ------- ------- ------- -------
Adjusted EBITDA $ 75,347 $ 77,737 $ 83,059 $ 82,949 $319,092
======= ======= ======= ======= =======
Debt--at September
30, 2023 $208,059
Leverage Ratio 0.7 x
View source version on businesswire.com: https://www.businesswire.com/news/home/20241105355821/en/
CONTACT: Tiffany Sammis
713-751-7515
tsammis@nrplp.com
(END) Dow Jones Newswires
November 05, 2024 06:55 ET (11:55 GMT)
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