NATURAL RESOURCE PARTNERS LP
For the period ended Sep 30, 2025. Filed Nov 4, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 4, 2025
NRP$122.68+2.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Partners’ Capital
| Accumulated | |||||
|---|---|---|---|---|---|
| Other · Total | |||||
| Common Unitholders · General · Comprehensive · Partners' | |||||
| (In thousands) | Units | Amounts | Partner | Income (Loss) | Capital |
| Balance at December 31, 2024 | 13,049 | $543,231 | $9,547 | $(1,670) | $551,108 |
| Net income | — | 39,448 | 805 | — | 40,253 |
| Distributions to common unitholders and the general partner | — | (25,750) | (526) | — | (26,276) |
| Issuance of unit-based awards | 89 | — | — | — | — |
| Unit-based awards amortization and vesting, net | — | (3,175) | — | — | (3,175) |
| Capital contribution | — | — | 187 | — | 187 |
| Comprehensive income from unconsolidated investment and other | — | — | — | 2,260 | 2,260 |
| Balance at March 31, 2025 | 13,138 | $553,754 | $10,013 | $590 | $564,357 |
| Net income | — | 33,527 | 684 | — | 34,211 |
| Distributions to common unitholders and the general partner | — | (9,854) | (201) | — | (10,055) |
| Unit-based awards amortization | — | 2,346 | — | — | 2,346 |
| Comprehensive loss from unconsolidated investment and other | — | — | — | (414) | (414) |
| Balance at June 30, 2025 | 13,138 | $579,773 | $10,496 | $176 | $590,445 |
| Net income | — | 30,287 | 618 | — | 30,905 |
| Distributions to common unitholders and the general partner | — | (9,854) | (201) | — | (10,055) |
| Unit-based awards amortization | — | 2,346 | — | — | 2,346 |
| Comprehensive loss from unconsolidated investment and other | — | — | — | (2,391) | (2,391) |
| Balance at September 30, 2025 | 13,138 | $602,552 | $10,913 | $(2,215) | $611,250 |
NATURAL RESOURCE PARTNERS L.P.
CONSOLIDATED STATEMENTS OF PARTNERS’** CAPITAL**
| Accumulated | ||||||
|---|---|---|---|---|---|---|
| Other · Total | ||||||
| Common Unitholders · General · Warrant · Comprehensive · Partners' | ||||||
| (In thousands) | Units | Amounts | Partner | Holders | Loss | Capital |
| Balance at December 31, 2023 | 12,635 | $503,076 | $8,005 | $23,095 | $(3,122) | $531,054 |
| Net income (1) | — | 55,089 | 1,124 | — | — | 56,213 |
| Distributions to common unitholders and the general partner | — | (41,342) | (844) | — | — | (42,186) |
| Distributions to preferred unitholders | — | (2,107) | (43) | — | — | (2,150) |
| Issuance of unit-based awards | 126 | — | — | — | — | — |
| Unit-based awards amortization and vesting, net | — | (3,971) | — | — | — | (3,971) |
| Capital contribution | — | — | 227 | — | — | 227 |
| Warrant settlements | 199 | (36,650) | (748) | (18,291) | — | (55,689) |
| Comprehensive income from unconsolidated investment and other | — | — | — | — | 845 | 845 |
| Balance at March 31, 2024 | 12,960 | $474,095 | $7,721 | $4,804 | $(2,277) | $484,343 |
| Net income (2) | — | 45,142 | 922 | — | — | 46,064 |
| Redemption of preferred units | — | (13,393) | (273) | — | — | (13,666) |
| Distributions to common unitholders and the general partner | — | (9,787) | (200) | — | — | (9,987) |
| Distributions to preferred unitholders | — | (2,590) | (53) | — | — | (2,643) |
| Unit-based awards amortization | — | 2,502 | — | — | — | 2,502 |
| Capital contribution | — | — | 555 | — | — | 555 |
| Warrant settlements | 89 | (5,092) | (104) | (4,804) | — | (10,000) |
| Comprehensive income from unconsolidated investment and other | — | — | — | — | 1,239 | 1,239 |
| Balance at June 30, 2024 | 13,049 | $490,877 | $8,568 | $— | $(1,038) | $498,407 |
| Net income (3) | — | 37,824 | 771 | — | — | 38,595 |
| Redemption of preferred units | — | (10,602) | (217) | — | — | (10,819) |
| Distributions to common unitholders and the general partner | — | (9,787) | (199) | — | — | (9,986) |
| Distributions to preferred unitholders | — | (1,573) | (32) | — | — | (1,605) |
| Unit-based awards amortization | — | 2,519 | — | — | — | 2,519 |
| Comprehensive income from unconsolidated investment and other | — | — | — | — | 82 | 82 |
| Balance at September 30, 2024 | 13,049 | $509,258 | $8,891 | $— | $(956) | $517,193 |
| (1) | Net income includes $2.15 million of income attributable to preferred unitholders that accumulated during the period, of which $2.11 million is allocated to the common unitholders and $0.04 million is allocated to the general partner. |
| (2) | Net income includes $1.44 million of income attributable to preferred unitholders that accumulated during the period, of which $1.41 million is allocated to the common unitholders and $0.03 million is allocated to the general partner. |
| (3) | Net income includes $0.66 million of income attributable to preferred unitholders that accumulated during the period, of which $0.64 million is allocated to the common unitholders and $0.01 million is allocated to the general partner. |
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