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Alliance Resource Partners, L.P. (ARLP) received an update from Stonegate Capital Partners, with key takeaways including a 2.4% y/y increase in volumes, $284.6M of debt payments expected in FY24, and promising alternative revenue streams.
Alliance Resource Partners, L.P. (NASDAQ: ARLP) reported solid financial results for the first quarter of 2024, despite decreased total revenues of $651.7 million compared to the 2023 Quarter. However, quarterly cash distributions stood at an impressive $0.70 per unit. These results were primarily impacted by a decrease in average coal sales prices and increased total operating expenses. The good news is, EBITDA for the quarter stood at $235.0 million which is a positive aspect, showing healthy financial performance. The liquidity position improved to $551.3 million, with a strong cash position of $134.0 million. In a positive move, the company reiterated its 2024 guidance, and the CEO emphasized the significance of the heavily contracted coal order book and continued growth in the Oil & Gas Royalties business, setting the stage for another robust year. However, there were certain negative aspects, the company experienced a decrease in total adjusted EBITDA and net income compared to the 2023 Quarter. They also reported a slight increase in Segment Adjusted EBITDA Expense per ton in some coal operations.
Alliance Resource Partners, L.P. (NASDAQ: ARLP) announced a quarterly distribution of $0.70 per unit for the 2024 Quarter, consistent with previous quarters, payable on May 15, 2024.