Natural Resource Partners LP (NRP) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. To ask a question, simply press star 1 on your telephone keypad. To withdraw your question, press star 1 again. Thank you. It is now my pleasure to turn the call over to Tiffany Samas, Investor Relations. Please go ahead. Thank you. Good morning, and welcome to the Natural Resource Partners third 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 GAAP measures are included in our third 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 SE or detailed market fundamentals. Now, I would like to turn the call over to Craig Nunes, our President and Chief Operating Officer. Thanks, Tiffany, and good morning, everyone. NRP generated $42 million of free cash flow in the third quarter of 2025 and $190 million of free cash flow over the la...