Natural Resource Partners LP (NRP) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. Thank you for joining us and welcome to the Natural Resource Partners LP fourth quarter 2025 earnings call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. To withdraw your question, press star one again. I will now hand the call over to Tiffany Sammis, Investor Relations. Please go ahead. Thank you. Good morning and welcome to the Natural Resource Partners fourth 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 fourth 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 Nunez, our President and Chief Operating Officer. Thank you, Tiffany, and good morning, everyone. NRP generated $46 million of free cash flow in the fourth...