Natural Resource Partners LP (NRP) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

If you would like to withdraw your question, just start one again. I would now like to hand the call over to Tiffany Samis. In best relations, you may begin. Thank you. Good morning, and welcome to the Natural Resource Partners first quarter 2025 conference call. Today's call is being webcast, and a replay will be available on our website. Joining me today are Craig Nunez, President and Chief Operating Officer, Chris Zolas, Chief Financial Officer, and Kevin Craig, Executive Vice President. Some of our comments today may include forward-looking statements reflecting NRP's views about future events. These matters involve risks and uncertainties that could cause our actual results to materially differ from our forward-looking statements. These risks are discussed in NRP's Form 10-K and other Securities and Exchange Commission filings. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. Our comments today also include non-GAAP financial measures. Additional details and reconciliations to the most directly comparable gap measures are included in our first quarter press release, which can be found on our website. I would like to remind everyone that we do not intend to discuss the operations or outlook for any particular coal lessee or detailed market fundamentals. Now, I would like to turn the call over to Craig Nunez, our President and Chief Operating Officer. Thank you, Tiffany, and good morning, everyone. nrp generated 35 million dollars of free cash flow in the first quarter of 2025 and 214 million dollars of free cash flow over the last 12 months prices for metallurgical coal thermal coal and soda ash declined precipitously over the last year and negatively impacted our results as you've heard us say for over a year...