Natural Resources Partners LP (NRP) saw its stock price plummet 5.24% during intraday trading on Friday, following the release of its fourth-quarter financial results.

The decline was driven by disappointing Q4 2025 earnings, which showed a significant year-over-year decrease. The company reported earnings of $2.27 per diluted common unit, down from $3.15 in the same period last year. Revenue for the quarter fell to $46.7 million from $65.7 million a year earlier. The primary reasons for the revenue decline were weak metallurgical and thermal coal prices, impacted by sluggish global steel demand and ample thermal coal supply, alongside decreased soda ash prices due to oversupply from new capacity in China.

Despite the challenging market conditions, the company declared a special cash distribution of $0.12 per common unit. Looking ahead, NRP expects coal prices to remain weak in 2026 and does not anticipate distributions from its Sisecam Wyoming investment to resume for several years.