Natural Resource Partners L.P. (NYSE:NRP) Q3 2022 Earnings Conference Call November 3, 2022 9:00 AM ET

Company Participants

Tiffany Sammis - Investor Relations

Craig Nunez - President and Chief Operating Officer

Christopher Zolas - Chief Financial Officer

Kevin Craig - Executive Vice President

Conference Call Participants

George Burmann - CL Securities

Mark Zand - Wexford Capital

Operator

Good morning. My name is Gina, I will be your conference operator today. At this time, I would like to welcome everyone to the Natural Resource Partners L.P. Third Quarter 2022 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks there will be a question-and-answer session. [Operator Instructions]

Tiffany Sammis, you may begin your conference.

Tiffany Sammis

Thank you. Good morning, and welcome to the Natural Resource Partners Third Quarter 2022 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 co-lessee or detailed market fundamentals. In addition, I refer you to Sisecam Resources' public disclosures and commentary for specific questions regarding our Soda Ash business segment.

Now I would like to turn the call over to Craig Nunez, our President and Chief Operating Officer.

Craig Nunez

Thank you, Tiffany, and good morning, everyone. NRP generated $83 million of free cash flow in the third quarter and has produced $199 million of free cash flow in the first nine months of the year, resulting in the best start to a year in the history of the partnership. We have seized this opportunity to accelerate our plan to become debt-free and redeem all of our preferred units.