NHC +0.78%: A decent quarterly out today for NHC with EBITDA of $448.1m for the April qtr, up 14.8% QoQ and +20.6% YoY. Production is solid, pricing has been weaker in recent months and needs to turn for NHC to run on the upside, but they’re producing a lot of coal and a lot of cash, and we remain comfortable collecting the associated dividends in the Income Portfolio.
MM remains long NHC in our Income Portfolio
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