Total Revenue

-21% " "

Total Revenue declined from 76,414 thousand USD in Q1 2024 to 60,538 thousand USD in Q1 2025. This drop is driven by weaker commodity pricing and reduced sales volumes in core segments like Mineral Rights, consistent with previous reductions in coal pricing and volumes from the past period. " "

Net Income

-28% " "

Net Income fell from 56,213 thousand USD in Q1 2024 to 40,253 thousand USD in Q1 2025. The decline reflects lower profitability from weaker market conditions, reduced commodity prices—especially in metallurgical coal—and increased operational costs, echoing factors observed in the prior period. " "

Mineral Rights – Royalty and Other Rights Revenue

-24% " "

Royalty and Other Rights revenue dropped from 67,372 thousand USD in Q1 2024 to 51,260 thousand USD in Q1 2025. This decline stems from lower coal sales volumes and reduced coal royalty revenue per ton across several regions compared to Q1 2024, mirroring past trends in diminishing demand and pricing pressure. " "

Transportation Services

+29% " "

Transportation Services increased from 3,427 thousand USD in Q1 2024 to 4,421 thousand USD in Q1 2025. This uptick is likely due to higher per-ton fees and a shift in production mix or relocation effects observed previously, which helped to partially offset declines in other segments. " "

Operating Income

-28% " "

Operating Income declined from 59,700 thousand USD in Q1 2024 to 42,921 thousand USD in Q1 2025. The reduction results from lower overall revenues that were not fully compensated by cost efficiencies, reflecting a similar impact of pricing and volume declines seen in Mineral Rights and other segments in the prior period. " "

Net Cash Provided by Operating Activities

-48% (from 66,220 to 34,424 thousand USD) " "

Net cash from operations dropped significantly from 66,220 thousand USD in Q1 2024 to 34,424 thousand USD in Q1 2025. This sharp decline is attributable to lower cash inflows from operations driven by reduced revenues and potentially unfavorable changes in working capital, following a similar pattern of operational stress seen earlier. " "

Total Partners’ Capital

+2.4% (from 551,108 to 564,357 thousand USD) " "

Total Partners’ Capital increased modestly from 551,108 thousand USD at Q4 2024 to 564,357 thousand USD in Q1 2025. This modest rise reflects the positive impact of Q1 2025 net income and comprehensive income, although gains were partially offset by increased distributions and unit-based awards, mirroring previous adjustments in capital attributed to operational results. " "