Alliance Resource Partners, L.P. Reports Fourth Quarter Financial and Operating Results; Declares Quarterly Cash Distribution of $0.70 Per Unit; and Provides 2025 Guidance
Alliance Resource Partners (ARLP) reported its Q4 and full-year 2024 results. Full-year 2024 total revenue reached $2.4 billion, with net income of $360.9 million and Adjusted EBITDA of $714.2 million. The company achieved record oil & gas royalty volumes of 3.4 million BOE, up 9.6% year-over-year.
Q4 2024 saw total revenue of $590.1 million, net income of $16.3 million, and Adjusted EBITDA of $124.0 million. The quarter's performance was impacted by reduced coal sales volumes (-2.3%) and lower transportation revenues. The company declared a quarterly cash distribution of $0.70 per unit.
For 2025, ARLP expects coal sales volumes between 32.25-34.25 million tons, with improved production costs anticipated to offset lower market prices. The company plans to actively pursue growth in its Oil & Gas Royalties segment.
Alliance Resource Partners (ARLP) ha riportato i risultati del quarto trimestre e dell'intero anno 2024. Il fatturato totale per l'anno 2024 ha raggiunto i 2,4 miliardi di dollari, con un utile netto di 360,9 milioni di dollari e un EBITDA rettificato di 714,2 milioni di dollari. L'azienda ha registrato volumi record di royalties da petrolio e gas di 3,4 milioni di BOE, con un aumento del 9,6% rispetto all'anno precedente.
Nel quarto trimestre del 2024, il fatturato totale è stato di 590,1 milioni di dollari, con un utile netto di 16,3 milioni di dollari e un EBITDA rettificato di 124,0 milioni di dollari. Le performance del trimestre sono state influenzate dalla riduzione dei volumi di vendita di carbone (-2,3%) e da un calo delle entrate da trasporto. L'azienda ha dichiarato una distribuzione di cassa trimestrale di 0,70 dollari per unità.
Per il 2025, ARLP prevede volumi di vendita di carbone tra 32,25 e 34,25 milioni di tonnellate, con un miglioramento dei costi di produzione previsto per compensare i prezzi di mercato più bassi. L'azienda prevede di perseguire attivamente la crescita nel suo segmento di Royalties per Petrolio e Gas.
Alliance Resource Partners (ARLP) reportó sus resultados del cuarto trimestre y del año completo 2024. Los ingresos totales del año 2024 alcanzaron los 2.4 mil millones de dólares, con una ganancia neta de 360.9 millones de dólares y un EBITDA ajustado de 714.2 millones de dólares. La compañía alcanzó volúmenes récord de regalías de petróleo y gas de 3.4 millones de BOE, un aumento del 9.6% interanual.
El cuarto trimestre de 2024 vio ingresos totales de 590.1 millones de dólares, una ganancia neta de 16.3 millones de dólares y un EBITDA ajustado de 124.0 millones de dólares. El rendimiento del trimestre se vio afectado por la reducción de los volúmenes de ventas de carbón (-2.3%) y menores ingresos por transporte. La compañía declaró una distribución de efectivo trimestral de 0.70 dólares por unidad.
Para 2025, ARLP espera volúmenes de ventas de carbón entre 32.25 y 34.25 millones de toneladas, con la expectativa de que los costos de producción mejoren para compensar los precios de mercado más bajos. La compañía planea perseguir activamente el crecimiento en su segmento de Regalías de Petróleo y Gas.
Alliance Resource Partners (ARLP)는 2024년 4분기 및 연간 결과를 발표했습니다. 2024년 전체 매출은 24억 달러에 달했으며, 순이익은 3억 6090만 달러, 조정 EBITDA는 7억 1420만 달러에 달했습니다. 이 회사는 340만 BOE의 석유 및 가스 로열티 기록량을 달성했으며, 전년 대비 9.6% 증가했습니다.
2024년 4분기의 총 매출은 5억 901만 달러, 순이익은 1630만 달러, 조정 EBITDA는 1억 2400만 달러였습니다. 이번 분기의 실적은 석탄 판매량 감소(-2.3%)와 낮은 운송 수익으로 영향을 받았습니다. 회사는 단위당 0.70 달러의 분기 현금 배당금을 선언했습니다.
2025년에는 ARLP가 석탄 판매량을 3225만~3425만 톤으로 예상하고 있으며, 개선된 생산 비용이 낮은 시장 가격을 상쇄할 것으로 기대하고 있습니다. 이 회사는 석유 및 가스 로열티 부문에서 성장을 적극적으로 추진할 계획입니다.
Alliance Resource Partners (ARLP) a annoncé ses résultats du quatrième trimestre et de l'année entière pour 2024. Le chiffre d'affaires total pour l'année 2024 a atteint 2,4 milliards de dollars, avec un bénéfice net de 360,9 millions de dollars et un EBITDA ajusté de 714,2 millions de dollars. L'entreprise a enregistré des volumes record de redevances pétrolières et gazières de 3,4 millions de BOE, en hausse de 9,6 % par rapport à l'année précédente.
Le quatrième trimestre de 2024 a vu un chiffre d'affaires total de 590,1 millions de dollars, un bénéfice net de 16,3 millions de dollars et un EBITDA ajusté de 124,0 millions de dollars. La performance du trimestre a été impactée par une réduction des volumes de vente de charbon (-2,3 %) et des revenus de transport plus faibles. L'entreprise a déclaré une distribution de liquidités trimestrielle de 0,70 dollar par unité.
Pour 2025, ARLP s'attend à des volumes de vente de charbon compris entre 32,25 et 34,25 millions de tonnes, avec des coûts de production améliorés prévus pour compenser les prix de marché plus bas. L'entreprise prévoit de poursuivre activement sa croissance dans son segment de redevances pétrolières et gazières.
Alliance Resource Partners (ARLP) hat die Ergebnisse für das 4. Quartal und das gesamte Jahr 2024 veröffentlicht. Der Gesamtumsatz im Jahr 2024 belief sich auf 2,4 Milliarden Dollar, mit einem Nettogewinn von 360,9 Millionen Dollar und einem bereinigten EBITDA von 714,2 Millionen Dollar. Das Unternehmen erreichte Rekordmengen an Öl- und Gasroylty von 3,4 Millionen BOE, was einem Anstieg von 9,6 % im Vergleich zum Vorjahr entspricht.
Im 4. Quartal 2024 betrug der Gesamtumsatz 590,1 Millionen Dollar, der Nettogewinn lag bei 16,3 Millionen Dollar und das bereinigte EBITDA bei 124,0 Millionen Dollar. Die Leistung des Quartals wurde durch reduzierte Kohlenverkaufsvolumen (-2,3%) und niedrigere Transporterträge beeinträchtigt. Das Unternehmen erklärte eine vierteljährliche Barverteilung von 0,70 Dollar pro Einheit.
Für 2025 erwartet ARLP Kohlenverkaufsvolumen zwischen 32,25 und 34,25 Millionen Tonnen, wobei verbesserte Produktionskosten erwartet werden, die niedrigere Marktpreise ausgleichen. Das Unternehmen plant, aktiv das Wachstum in seinem Segment der Öl- und Gasroylty zu verfolgen.
- Record full-year 2024 oil & gas royalty volumes of 3.4 million BOE, up 9.6% YoY
- Strong coal contracts maintained average coal sales price near record levels at $63.38 per ton
- Solid liquidity position with $593.9 million total liquidity at quarter-end
- Consistent quarterly distribution maintained at $0.70 per unit
- Q4 2024 net income decreased 85.9% YoY to $16.3 million
- Full-year 2024 revenue declined 4.6% to $2.45 billion
- Q4 2024 Adjusted EBITDA fell 33.1% YoY to $124.0 million
- $31.1 million non-cash impairment charges in Q4 2024
- Higher operating costs and challenging geological conditions at multiple operations
Insights
The Q4 2024 results reveal significant operational headwinds despite ARLP maintaining its strong market position. The 42.8% sequential decline in net income to
Key operational metrics paint a complex picture:
- Coal operations faced pressure with a 12.1% increase in segment adjusted EBITDA expense per ton, reflecting operational inefficiencies and higher labor costs
- The oil & gas royalties segment achieved record volumes but saw pricing pressure with a
17.2% YoY decrease in average sales price per BOE - Total liquidity remains robust at
$593.9 million , with a conservative leverage ratio of 0.69x
Looking ahead to 2025, ARLP's guidance suggests strategic repositioning:
- Coal sales targets of 32.25-34.25 million tons indicate focus on operational stability
- Strong forward contract book with 26 million tons already committed for 2025
- Continued investment in oil & gas royalties signals portfolio diversification
The maintained quarterly distribution of
Highlights
-
Full year 2024 total revenue of
$2.4 billion $360.9 million $714.2 million -
Record full year 2024 oil & gas royalty volumes of 3.4 million BOE, up
9.6% year-over-year -
Fourth quarter 2024 total revenue of
$590.1 million $16.3 million $124.0 million -
Completed
$9.6 million -
In January 2025, declared quarterly cash distribution of
$0.70 $2.80
Total revenues in the 2024 Quarter decreased
Total revenues in the 2024 Quarter decreased
Total revenues decreased
CEO Commentary
"Due to the continued strength of our coal contracts, our average coal sales price per ton for the 2024 Full Year of
Mr. Craft continued, "Having substantially completed major infrastructure projects at Tunnel Ridge,
Mr. Craft concluded, "The increase in forecasted electricity demand, particularly from data centers and growth in AI, is highlighting the inadequacy of current resource plans without extended use of fossil fuel plants. These market realities, coupled with what we expect to be a more favorable regulatory environment, are laying the foundation for Alliance to continue serving as a cornerstone of the country’s reliable electricity infrastructure for years to come. We look forward to what we can achieve in 2025."
Segment Results and Analysis (Unaudited)
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% Change |
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2024 Fourth |
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2023 Fourth |
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Quarter / |
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2024 Third |
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% Change |
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(in millions, except per ton and per BOE data) |
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Quarter |
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Quarter |
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Quarter |
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Quarter |
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Sequential |
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Coal Operations (1) |
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Tons sold |
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6.596 |
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6.419 |
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2.8 |
% |
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5.967 |
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10.5 |
% |
Coal sales price per ton sold |
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$ |
54.38 |
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$ |
55.06 |
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(1.2 |
)% |
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$ |
56.61 |
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(3.9 |
)% |
Segment Adjusted EBITDA Expense per ton |
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$ |
39.77 |
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$ |
35.26 |
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12.8 |
% |
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$ |
37.79 |
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5.2 |
% |
Segment Adjusted EBITDA |
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$ |
101.0 |
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$ |
130.1 |
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(22.4 |
)% |
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$ |
114.6 |
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(11.9 |
)% |
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Appalachia Coal Operations |
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Tons sold |
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1.819 |
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2.194 |
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(17.1 |
)% |
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2.412 |
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(24.6 |
)% |
Coal sales price per ton sold |
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$ |
80.23 |
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$ |
76.82 |
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4.4 |
% |
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$ |
80.78 |
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(0.7 |
)% |
Segment Adjusted EBITDA Expense per ton |
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$ |
76.79 |
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$ |
63.52 |
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20.9 |
% |
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$ |
65.42 |
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17.4 |
% |
Segment Adjusted EBITDA |
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$ |
7.0 |
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$ |
29.8 |
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(76.5 |
)% |
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$ |
37.5 |
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(81.4 |
)% |
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Total Coal Operations |
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Tons sold |
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8.415 |
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8.613 |
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(2.3 |
)% |
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8.379 |
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0.4 |
% |
Coal sales price per ton sold |
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$ |
59.97 |
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$ |
60.60 |
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(1.0 |
)% |
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$ |
63.57 |
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(5.7 |
)% |
Segment Adjusted EBITDA Expense per ton |
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$ |
48.09 |
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$ |
42.91 |
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12.1 |
% |
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$ |
46.11 |
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4.3 |
% |
Segment Adjusted EBITDA |
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$ |
105.4 |
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$ |
156.2 |
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(32.5 |
)% |
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$ |
149.3 |
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(29.4 |
)% |
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Royalties (1) |
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Oil & Gas Royalties |
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BOE sold (2) |
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0.823 |
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0.809 |
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1.7 |
% |
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0.864 |
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(4.7 |
)% |
Oil percentage of BOE |
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43.3 |
% |
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46.3 |
% |
(6.5 |
)% |
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45.4 |
% |
(4.6 |
)% |
Average sales price per BOE (3) |
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$ |
36.94 |
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$ |
44.60 |
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(17.2 |
)% |
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$ |
39.87 |
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(7.3 |
)% |
Segment Adjusted EBITDA Expense |
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$ |
4.4 |
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$ |
4.7 |
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(5.1 |
)% |
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$ |
5.8 |
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(24.1 |
)% |
Segment Adjusted EBITDA |
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$ |
25.6 |
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$ |
31.0 |
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(17.6 |
)% |
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$ |
28.7 |
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(10.8 |
)% |
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Coal Royalties |
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Royalty tons sold |
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5.491 |
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5.018 |
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9.4 |
% |
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5.109 |
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7.5 |
% |
Revenue per royalty ton sold |
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$ |
3.23 |
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$ |
3.33 |
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(3.0 |
)% |
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$ |
3.26 |
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(0.9 |
)% |
Segment Adjusted EBITDA Expense |
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$ |
7.3 |
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$ |
6.6 |
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10.0 |
% |
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$ |
5.6 |
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30.1 |
% |
Segment Adjusted EBITDA |
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$ |
10.5 |
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$ |
10.2 |
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3.6 |
% |
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$ |
11.1 |
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(4.8 |
)% |
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Total Royalties |
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Total royalty revenues |
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$ |
48.5 |
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$ |
53.0 |
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(8.6 |
)% |
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$ |
51.3 |
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(5.6 |
)% |
Segment Adjusted EBITDA Expense |
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$ |
11.7 |
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$ |
11.3 |
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3.7 |
% |
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$ |
11.4 |
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2.4 |
% |
Segment Adjusted EBITDA |
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$ |
36.1 |
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$ |
41.2 |
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(12.3 |
)% |
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$ |
39.8 |
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(9.2 |
)% |
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Consolidated Total |
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Total revenues |
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$ |
590.1 |
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$ |
625.4 |
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(5.6 |
)% |
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$ |
613.6 |
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(3.8 |
)% |
Segment Adjusted EBITDA Expense |
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$ |
414.8 |
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$ |
376.6 |
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10.1 |
% |
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$ |
393.7 |
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5.4 |
% |
Segment Adjusted EBITDA |
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$ |
141.6 |
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$ |
203.2 |
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(30.3 |
)% |
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$ |
192.3 |
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(26.3 |
)% |
| _________________ | |
(1) |
For definitions of Segment Adjusted EBITDA Expense and Segment Adjusted EBITDA and related reconciliations to comparable GAAP financial measures, please see the end of this release. Segment Adjusted EBITDA Expense per ton is defined as Segment Adjusted EBITDA Expense – Coal Operations (as reflected in the reconciliation table at the end of this release) divided by total tons sold. |
(2) |
Barrels of oil equivalent ("BOE") for natural gas volumes is calculated on a 6:1 basis (6,000 cubic feet of natural gas to one barrel). |
(3) |
Average sales price per BOE is defined as oil & gas royalty revenues excluding lease bonus revenue divided by total BOE sold. |
Coal Operations
Total coal sales volumes for the 2024 Quarter decreased
Segment Adjusted EBITDA Expense per ton for the 2024 Quarter increased by
Royalties
Segment Adjusted EBITDA for the Oil & Gas Royalties segment decreased to
Segment Adjusted EBITDA for the Coal Royalties segment increased
Balance Sheet and Liquidity
As of December 31, 2024, total debt and finance leases outstanding were
Distributions
On January 28, 2025, the Board of Directors of ARLP’s general partner (the "Board") approved a cash distribution to unitholders for the 2024 Quarter of
Outlook
"For 2025, we expect improved coal production costs to counterbalance lower market prices, keeping Coal segment margins near 2024 Full Year levels," commented Mr. Craft. "In the Oil & Gas Royalty business, we achieved record production volumes for the 2024 Full Year despite only making modest additions to our overall acreage position. We continue to favor the cash flow generation profile and ability to self-fund growth in the Oil & Gas Royalties segment, and therefore, will actively pursue growth in this segment in 2025."
Mr. Craft concluded, "Looking forward, we anticipate a more supportive regulatory environment from the new administration that will help address the growing need for affordable, reliable baseload power without prematurely retiring critical generation sources. As the realities of physics meet the needs of the grid, we believe previously announced retirements will be delayed and our products will remain a cornerstone of energy security in some of the strongest industrial growth areas of the country for years to come."
ARLP is providing the following guidance for the full year ending December 31, 2025 (the "2025 Full Year"):
2025 Full Year Guidance |
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Coal Operations |
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Volumes (Million Short Tons) |
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23.5 — 25.0 |
Appalachia Sales Tons |
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8.75 — 9.25 |
Total Sales Tons |
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32.25 — 34.25 |
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Committed & Priced Sales Tons |
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2025 — Domestic / Export / Total |
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23.5 / 2.5 / 26.0 |
2026 — Domestic / Export / Total |
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13.4 / 1.3 / 14.7 |
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Coal Sales Price Per Ton Sold (1) |
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Appalachia |
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Total |
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Segment Adjusted EBITDA Expense Per Ton Sold (2) |
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Appalachia |
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Total |
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Royalties |
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Oil & Gas Royalties |
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Oil (000 Barrels) |
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|
1,550 — 1,650 |
Natural gas (000 MCF) |
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|
6,100 — 6,500 |
Liquids (000 Barrels) |
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|
775 — 825 |
Segment Adjusted EBITDA Expense (% of Oil & Gas Royalties Revenue) |
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~ |
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Coal Royalties |
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Royalty tons sold (Million Short Tons) |
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23.75 — 25.25 |
Revenue per royalty ton sold |
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Segment Adjusted EBITDA Expense per royalty ton sold |
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Consolidated (Millions) |
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Depreciation, depletion and amortization |
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General and administrative |
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Net interest expense |
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Income tax expense |
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Total capital expenditures |
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Growth capital expenditures |
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|
Maintenance capital expenditures |
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| _________________ | |
(1) |
Sales price per ton is defined as total coal sales revenue divided by total tons sold. |
(2) |
Segment Adjusted EBITDA Expense is defined as operating expenses, coal purchases, if applicable, and other income or expense as adjusted to remove certain items from operating expenses that we characterize as unrepresentative of our ongoing operations. |
Conference Call
A conference call regarding ARLP's 2024 Quarter and Full Year financial results is scheduled for today at 10:00 a.m. Eastern. To participate in the conference call, dial (877) 407-0784 and request to be connected to the Alliance Resource Partners, L.P. earnings conference call. International callers should dial (201) 689-8560 and request to be connected to the same call. Investors may also listen to the call via the "Investors" section of ARLP's website at www.arlp.com.
An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial
About Alliance Resource Partners, L.P.
ARLP is a diversified energy company that is currently the second largest coal producer in the eastern
News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission ("SEC"), are available at www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7673 or via e-mail at investorrelations@arlp.com.
The statements and projections used throughout this release are based on current expectations. These statements and projections are forward-looking, and actual results may differ materially. These projections do not include the potential impact of any mergers, acquisitions or other business combinations that may occur after the date of this release. We have included more information below regarding business risks that could affect our results.
FORWARD-LOOKING STATEMENTS: With the exception of historical matters, any matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from projected results. Those forward-looking statements include expectations with respect to our future financial performance, coal and oil & gas consumption and expected future prices, our ability to increase or maintain unitholder distributions in future quarters, business plans and potential growth with respect to our energy and infrastructure transition investments, optimizing cash flows, reducing operating and capital expenditures, infrastructure projects at our existing properties, growth in domestic electricity demand, preserving liquidity and maintaining financial flexibility, and our future repurchases of units and senior notes, among others. These risks to our ability to achieve these outcomes include, but are not limited to, the following: decline in the coal industry's share of electricity generation, including as a result of environmental concerns related to coal mining and combustion, the cost and perceived benefits of other sources of electricity and fuels, such as oil & gas, nuclear energy, and renewable fuels and the planned retirement of coal-fired power plants in the
Additional information concerning these, and other factors can be found in ARLP's public periodic filings with the SEC, including ARLP's Annual Report on Form 10-K for the year ended December 31, 2023, filed on February 23, 2024, and ARLP's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024, filed on May 9, 2024, August 7, 2024 and November 7, 2024, respectively. Except as required by applicable securities laws, ARLP does not intend to update its forward-looking statements.
ALLIANCE RESOURCE PARTNERS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND OPERATING DATA (In thousands, except unit and per unit data) (Unaudited) |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended |
|
Year Ended |
||||||||||||
|
|
December 31, |
|
December 31, |
||||||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Tons Sold |
|
|
8,415 |
|
|
|
8,613 |
|
|
|
33,319 |
|
|
|
34,442 |
|
Tons Produced |
|
|
6,901 |
|
|
|
7,880 |
|
|
|
32,206 |
|
|
|
34,877 |
|
Mineral Interest Volumes (BOE) |
|
|
823 |
|
|
|
809 |
|
|
|
3,402 |
|
|
|
3,105 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
SALES AND OPERATING REVENUES: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Coal sales |
|
$ |
504,618 |
|
|
$ |
521,972 |
|
|
$ |
2,111,803 |
|
|
$ |
2,210,210 |
|
Oil & gas royalties |
|
|
30,404 |
|
|
|
36,042 |
|
|
|
138,311 |
|
|
|
137,751 |
|
Transportation revenues |
|
|
30,519 |
|
|
|
46,561 |
|
|
|
112,590 |
|
|
|
142,290 |
|
Other revenues |
|
|
24,551 |
|
|
|
20,847 |
|
|
|
86,004 |
|
|
|
76,450 |
|
Total revenues |
|
|
590,092 |
|
|
|
625,422 |
|
|
|
2,448,708 |
|
|
|
2,566,701 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
EXPENSES: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Operating expenses (excluding depreciation, depletion and amortization) |
|
|
407,090 |
|
|
|
356,563 |
|
|
|
1,507,398 |
|
|
|
1,368,787 |
|
Transportation expenses |
|
|
30,519 |
|
|
|
46,561 |
|
|
|
112,590 |
|
|
|
142,290 |
|
Outside coal purchases |
|
|
7,879 |
|
|
|
20,410 |
|
|
|
35,791 |
|
|
|
36,149 |
|
General and administrative |
|
|
17,655 |
|
|
|
17,784 |
|
|
|
82,224 |
|
|
|
79,096 |
|
Depreciation, depletion and amortization |
|
|
80,472 |
|
|
|
68,400 |
|
|
|
285,446 |
|
|
|
267,982 |
|
Asset impairments |
|
|
31,130 |
|
|
|
— |
|
|
|
31,130 |
|
|
|
— |
|
Total operating expenses |
|
|
574,745 |
|
|
|
509,718 |
|
|
|
2,054,579 |
|
|
|
1,894,304 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
INCOME FROM OPERATIONS |
|
|
15,347 |
|
|
|
115,704 |
|
|
|
394,129 |
|
|
|
672,397 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest expense, net |
|
|
(8,676 |
) |
|
|
(6,246 |
) |
|
|
(35,229 |
) |
|
|
(36,091 |
) |
Interest income |
|
|
1,687 |
|
|
|
1,310 |
|
|
|
7,222 |
|
|
|
9,394 |
|
Equity method investment income (loss) |
|
|
(1,929 |
) |
|
|
2,316 |
|
|
|
(4,961 |
) |
|
|
(1,468 |
) |
Change in fair value of digital assets |
|
|
13,958 |
|
|
|
— |
|
|
|
22,395 |
|
|
|
— |
|
Other income (expense) |
|
|
183 |
|
|
|
391 |
|
|
|
(2,062 |
) |
|
|
218 |
|
INCOME BEFORE INCOME TAXES |
|
|
20,570 |
|
|
|
113,475 |
|
|
|
381,494 |
|
|
|
644,450 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
INCOME TAX EXPENSE (BENEFIT) |
|
|
3,005 |
|
|
|
(3,361 |
) |
|
|
15,937 |
|
|
|
8,280 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
NET INCOME |
|
|
17,565 |
|
|
|
116,836 |
|
|
|
365,557 |
|
|
|
636,170 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST |
|
|
(1,235 |
) |
|
|
(1,392 |
) |
|
|
(4,702 |
) |
|
|
(6,052 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
NET INCOME ATTRIBUTABLE TO ARLP |
|
$ |
16,330 |
|
|
$ |
115,444 |
|
|
$ |
360,855 |
|
|
$ |
630,118 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
NET INCOME ATTRIBUTABLE TO ARLP |
|
|
|
|
|
|
|
|
|
|
|
|
||||
GENERAL PARTNER |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,384 |
|
LIMITED PARTNERS |
|
$ |
16,330 |
|
|
$ |
115,444 |
|
|
$ |
360,855 |
|
|
$ |
628,734 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
EARNINGS PER LIMITED PARTNER UNIT - BASIC AND DILUTED |
|
$ |
0.12 |
|
|
$ |
0.88 |
|
|
$ |
2.77 |
|
|
$ |
4.81 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
WEIGHTED-AVERAGE NUMBER OF UNITS OUTSTANDING – BASIC AND DILUTED |
|
|
128,061,981 |
|
|
|
127,125,437 |
|
|
|
127,964,744 |
|
|
|
127,180,312 |
|
ALLIANCE RESOURCE PARTNERS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except unit data) (Unaudited) |
||||||||
|
|
December 31, |
||||||
|
|
2024 |
|
2023 |
||||
ASSETS |
|
|
|
|
|
|
||
CURRENT ASSETS: |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
136,962 |
|
|
$ |
59,813 |
|
Trade receivables (net of allowance at December 31, 2024 and 2023 of |
|
|
166,829 |
|
|
|
282,622 |
|
Other receivables |
|
|
10,158 |
|
|
|
9,678 |
|
Inventories, net |
|
|
120,661 |
|
|
|
127,556 |
|
Advance royalties |
|
|
11,422 |
|
|
|
7,780 |
|
Digital assets |
|
|
45,037 |
|
|
|
9,579 |
|
Prepaid expenses and other assets |
|
|
22,161 |
|
|
|
19,093 |
|
Total current assets |
|
|
513,230 |
|
|
|
516,121 |
|
PROPERTY, PLANT AND EQUIPMENT: |
|
|
|
|
|
|
||
Property, plant and equipment, at cost |
|
|
4,435,535 |
|
|
|
4,172,544 |
|
Less accumulated depreciation, depletion and amortization |
|
|
(2,269,265 |
) |
|
|
(2,149,881 |
) |
Total property, plant and equipment, net |
|
|
2,166,270 |
|
|
|
2,022,663 |
|
OTHER ASSETS: |
|
|
|
|
|
|
||
Advance royalties |
|
|
70,264 |
|
|
|
71,125 |
|
Equity method investments |
|
|
35,532 |
|
|
|
46,503 |
|
Equity securities |
|
|
92,541 |
|
|
|
92,541 |
|
Operating lease right-of-use assets |
|
|
15,871 |
|
|
|
16,569 |
|
Other long-term assets |
|
|
22,022 |
|
|
|
22,904 |
|
Total other assets |
|
|
236,230 |
|
|
|
249,642 |
|
TOTAL ASSETS |
|
$ |
2,915,730 |
|
|
$ |
2,788,426 |
|
|
|
|
|
|
|
|
||
LIABILITIES AND PARTNERS' CAPITAL |
|
|
|
|
|
|
||
CURRENT LIABILITIES: |
|
|
|
|
|
|
||
Accounts payable |
|
$ |
98,188 |
|
|
$ |
108,269 |
|
Accrued taxes other than income taxes |
|
|
21,051 |
|
|
|
21,007 |
|
Accrued payroll and related expenses |
|
|
26,946 |
|
|
|
29,884 |
|
Accrued interest |
|
|
1,821 |
|
|
|
3,558 |
|
Workers' compensation and pneumoconiosis benefits |
|
|
14,838 |
|
|
|
15,913 |
|
Other current liabilities |
|
|
48,023 |
|
|
|
28,498 |
|
Current maturities, long-term debt, net |
|
|
22,275 |
|
|
|
20,338 |
|
Total current liabilities |
|
|
233,142 |
|
|
|
227,467 |
|
LONG-TERM LIABILITIES: |
|
|
|
|
|
|
||
Long-term debt, excluding current maturities, net |
|
|
450,885 |
|
|
|
316,821 |
|
Pneumoconiosis benefits |
|
|
120,152 |
|
|
|
127,249 |
|
Accrued pension benefit |
|
|
— |
|
|
|
8,618 |
|
Workers' compensation |
|
|
37,177 |
|
|
|
37,257 |
|
Asset retirement obligations |
|
|
155,156 |
|
|
|
146,925 |
|
Long-term operating lease obligations |
|
|
13,638 |
|
|
|
13,661 |
|
Deferred income tax liabilities |
|
|
29,353 |
|
|
|
33,450 |
|
Other liabilities |
|
|
22,694 |
|
|
|
18,381 |
|
Total long-term liabilities |
|
|
829,055 |
|
|
|
702,362 |
|
Total liabilities |
|
|
1,062,197 |
|
|
|
929,829 |
|
|
|
|
|
|
|
|
||
COMMITMENTS AND CONTINGENCIES |
|
|
|
|
|
|
||
|
|
|
|
|
|
|
||
PARTNERS' CAPITAL: |
|
|
|
|
|
|
||
ARLP Partners' Capital: |
|
|
|
|
|
|
||
Limited Partners - Common Unitholders 128,061,981 and 127,125,437 units outstanding, respectively |
|
|
1,867,850 |
|
|
|
1,896,027 |
|
Accumulated other comprehensive loss |
|
|
(35,103 |
) |
|
|
(61,525 |
) |
Total ARLP Partners' Capital |
|
|
1,832,747 |
|
|
|
1,834,502 |
|
Noncontrolling interest |
|
|
20,786 |
|
|
|
24,095 |
|
Total Partners' Capital |
|
|
1,853,533 |
|
|
|
1,858,597 |
|
TOTAL LIABILITIES AND PARTNERS' CAPITAL |
|
$ |
2,915,730 |
|
|
$ |
2,788,426 |
|
ALLIANCE RESOURCE PARTNERS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) |
||||||||
|
|
|
|
|
|
|
||
|
|
Year Ended |
||||||
|
|
December 31, |
||||||
|
|
2024 |
|
2023 |
||||
|
|
|
|
|
|
|
||
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
$ |
803,131 |
|
|
$ |
824,231 |
|
|
|
|
|
|
|
|
||
CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
|
|
|
||
Property, plant and equipment: |
|
|
|
|
|
|
||
Capital expenditures |
|
|
(428,741 |
) |
|
|
(379,338 |
) |
Change in accounts payable and accrued liabilities |
|
|
9,142 |
|
|
|
(29,695 |
) |
Proceeds from sale of property, plant and equipment |
|
|
1,626 |
|
|
|
3,710 |
|
Contributions to equity method investments |
|
|
(2,896 |
) |
|
|
(2,518 |
) |
Purchase of equity securities |
|
|
— |
|
|
|
(49,560 |
) |
JC Resources acquisition |
|
|
— |
|
|
|
(64,999 |
) |
Oil & gas reserve business combinations |
|
|
— |
|
|
|
(14,459 |
) |
Oil & gas reserve asset acquisitions |
|
|
(24,733 |
) |
|
|
(24,225 |
) |
Other |
|
|
4,938 |
|
|
|
7,762 |
|
Net cash used in investing activities |
|
|
(440,664 |
) |
|
|
(553,322 |
) |
|
|
|
|
|
|
|
||
CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
|
|
|
||
Borrowings under securitization facility |
|
|
75,000 |
|
|
|
— |
|
Payments under securitization facility |
|
|
(75,000 |
) |
|
|
— |
|
Proceeds from equipment financings |
|
|
54,626 |
|
|
|
— |
|
Payments on equipment financings |
|
|
(11,981 |
) |
|
|
(24,970 |
) |
Borrowings under revolving credit facilities |
|
|
20,000 |
|
|
|
— |
|
Payments under revolving credit facilities |
|
|
(20,000 |
) |
|
|
— |
|
Borrowing under long-term debt |
|
|
400,000 |
|
|
|
75,000 |
|
Payments on long-term debt |
|
|
(299,842 |
) |
|
|
(129,455 |
) |
Payment of debt issuance costs |
|
|
(11,442 |
) |
|
|
(12,376 |
) |
Payments for purchases of units under unit repurchase program |
|
|
— |
|
|
|
(19,432 |
) |
Payments for purchase of units and tax withholdings related to settlements under deferred compensation plans |
|
|
(15,544 |
) |
|
|
(10,334 |
) |
Cash settlement of grants under deferred compensation plans |
|
|
(21,786 |
) |
|
|
— |
|
Excess purchase price over the contributed basis from JC Resources acquisition |
|
|
— |
|
|
|
(7,251 |
) |
Cash retained by JC Resources in acquisition |
|
|
— |
|
|
|
(2,933 |
) |
Distributions paid to Partners |
|
|
(363,430 |
) |
|
|
(364,579 |
) |
Other |
|
|
(15,919 |
) |
|
|
(10,789 |
) |
Net cash used in financing activities |
|
|
(285,318 |
) |
|
|
(507,119 |
) |
|
|
|
|
|
|
|
||
NET CHANGE IN CASH AND CASH EQUIVALENTS |
|
|
77,149 |
|
|
|
(236,210 |
) |
|
|
|
|
|
|
|
||
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
|
|
59,813 |
|
|
|
296,023 |
|
|
|
|
|
|
|
|
||
CASH AND CASH EQUIVALENTS AT END OF PERIOD |
|
$ |
136,962 |
|
|
$ |
59,813 |
|
Reconciliation of Non-GAAP Financial Measures (Unaudited)
Reconciliation of GAAP "net income attributable to ARLP" to non-GAAP "EBITDA," "Adjusted EBITDA," "Distribution Coverage Ratio" and "Distributable Cash Flow" (in thousands).
EBITDA is defined as net income attributable to ARLP before net interest expense, income taxes and depreciation, depletion and amortization and Adjusted EBITDA is EBITDA adjusted for certain items that we characterize as unrepresentative of our ongoing operations. Distributable cash flow ("DCF") is defined as Adjusted EBITDA excluding equity method investment earnings, interest expense (before capitalized interest), interest income, income taxes and estimated maintenance capital expenditures and adding distributions from equity method investments and litigation expense accrual. Distribution coverage ratio ("DCR") is defined as DCF divided by distributions paid to partners.
Management believes that the presentation of such additional financial measures provides useful information to investors regarding our performance and results of operations because these measures, when used in conjunction with related GAAP financial measures, (i) provide additional information about our core operating performance and ability to generate and distribute cash flow, (ii) provide investors with the financial analytical framework upon which management bases financial, operational, compensation and planning decisions and (iii) present measurements that investors, rating agencies and debt holders have indicated are useful in assessing us and our results of operations.
EBITDA, Adjusted EBITDA, DCF and DCR should not be considered as alternatives to net income attributable to ARLP, net income, income from operations, cash flows from operating activities or any other measure of financial performance presented in accordance with GAAP. EBITDA and DCF are not intended to represent cash flow and do not represent the measure of cash available for distribution. Our method of computing EBITDA, Adjusted EBITDA, DCF and DCR may not be the same method used to compute similar measures reported by other companies, or EBITDA, Adjusted EBITDA, DCF and DCR may be computed differently by us in different contexts (i.e., public reporting versus computation under financing agreements).
|
|
Three Months Ended |
|
Year Ended |
|
Three Months Ended |
||||||||||||||
|
|
December 31, |
|
December 31, |
|
September 30, |
||||||||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
2024 |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Net income attributable to ARLP |
|
$ |
16,330 |
|
|
$ |
115,444 |
|
|
$ |
360,855 |
|
|
$ |
630,118 |
|
|
$ |
86,281 |
|
Depreciation, depletion and amortization |
|
|
80,472 |
|
|
|
68,400 |
|
|
|
285,446 |
|
|
|
267,982 |
|
|
|
72,971 |
|
Interest expense, net |
|
|
11,227 |
|
|
|
7,210 |
|
|
|
40,850 |
|
|
|
33,403 |
|
|
|
10,873 |
|
Capitalized interest |
|
|
(4,238 |
) |
|
|
(2,274 |
) |
|
|
(12,843 |
) |
|
|
(6,706 |
) |
|
|
(3,521 |
) |
Income tax expense (benefit) |
|
|
3,005 |
|
|
|
(3,361 |
) |
|
|
15,937 |
|
|
|
8,280 |
|
|
|
4,123 |
|
EBITDA |
|
|
106,796 |
|
|
|
185,419 |
|
|
|
690,245 |
|
|
|
933,077 |
|
|
|
170,727 |
|
Litigation expense accrual (1) |
|
|
— |
|
|
|
— |
|
|
|
15,250 |
|
|
|
— |
|
|
|
— |
|
Asset impairments |
|
|
31,130 |
|
|
|
— |
|
|
|
31,130 |
|
|
|
— |
|
|
|
— |
|
Change in fair value of digital assets (2) |
|
|
(13,958 |
) |
|
|
— |
|
|
|
(22,395 |
) |
|
|
— |
|
|
|
(332 |
) |
Adjusted EBITDA |
|
|
123,968 |
|
|
|
185,419 |
|
|
|
714,230 |
|
|
|
933,077 |
|
|
|
170,395 |
|
Equity method investment loss (income) |
|
|
1,929 |
|
|
|
(2,316 |
) |
|
|
4,961 |
|
|
|
1,468 |
|
|
|
2,327 |
|
Distributions from equity method investments |
|
|
939 |
|
|
|
1,040 |
|
|
|
3,788 |
|
|
|
3,918 |
|
|
|
849 |
|
Interest expense, net |
|
|
(11,227 |
) |
|
|
(7,210 |
) |
|
|
(40,850 |
) |
|
|
(33,403 |
) |
|
|
(10,873 |
) |
Income tax benefit (expense) |
|
|
(3,005 |
) |
|
|
3,361 |
|
|
|
(15,937 |
) |
|
|
(8,280 |
) |
|
|
(4,123 |
) |
Deferred income tax benefit (3) |
|
|
(351 |
) |
|
|
(5,992 |
) |
|
|
(2,185 |
) |
|
|
(8,973 |
) |
|
|
(765 |
) |
Litigation expense accrual (1) |
|
|
— |
|
|
|
— |
|
|
|
(15,250 |
) |
|
|
— |
|
|
|
— |
|
Estimated maintenance capital expenditures (4) |
|
|
(53,552 |
) |
|
|
(55,554 |
) |
|
|
(249,919 |
) |
|
|
(245,883 |
) |
|
|
(60,171 |
) |
Distributable Cash Flow |
|
$ |
58,701 |
|
|
$ |
118,748 |
|
|
$ |
398,838 |
|
|
$ |
641,924 |
|
|
$ |
97,639 |
|
Distributions paid to partners |
|
$ |
90,723 |
|
|
$ |
90,812 |
|
|
$ |
363,430 |
|
|
$ |
364,579 |
|
|
$ |
90,725 |
|
Distribution Coverage Ratio |
|
|
0.65 |
|
|
|
1.31 |
|
|
|
1.10 |
|
|
|
1.76 |
|
|
|
1.08 |
|
| _________________ | |
(1) |
Litigation expense accrual is a |
(2) |
On January 1, 2024, ARLP elected to early adopt new accounting guidance which clarifies the accounting and disclosure requirements for certain crypto assets. The new guidance requires entities to measure certain crypto assets at fair value, with the change in fair value included in net income. |
(3) |
Deferred income tax benefit is the amount of income tax benefit during the period on temporary differences between the tax basis and financial reporting basis of recorded assets and liabilities. These differences generally arise in one period and reverse in subsequent periods to eventually offset each other and do not impact the amount of distributable cash flow available to be paid to partners. |
(4) |
Maintenance capital expenditures are those capital expenditures required to maintain, over the long-term, the existing infrastructure of our coal assets. We estimate maintenance capital expenditures on an annual basis based upon a five-year planning horizon. For the 2025 planning horizon, average annual estimated maintenance capital expenditures are assumed to be |
Reconciliation of GAAP "Cash flows from operating activities" to non-GAAP "Free cash flow" (in thousands).
Free cash flow is defined as cash flows from operating activities less capital expenditures and the change in accounts payable and accrued liabilities from purchases of property, plant and equipment. Free cash flow should not be considered as an alternative to cash flows from operating activities or any other measure of financial performance presented in accordance with GAAP. Our method of computing free cash flow may not be the same method used by other companies. Free cash flow is a supplemental liquidity measure used by our management to assess our ability to generate excess cash flow from our operations.
|
|
Three Months Ended |
|
Year Ended |
|
Three Months Ended |
||||||||||||||
|
|
December 31, |
|
December 31, |
|
September 30, |
||||||||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
2024 |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Cash flows from operating activities |
|
$ |
168,420 |
|
|
$ |
93,933 |
|
|
$ |
803,131 |
|
|
$ |
824,231 |
|
|
$ |
209,272 |
|
Capital expenditures |
|
|
(93,155 |
) |
|
|
(83,982 |
) |
|
|
(428,741 |
) |
|
|
(379,338 |
) |
|
|
(110,298 |
) |
Change in accounts payable and accrued liabilities |
|
|
(49 |
) |
|
|
(6,689 |
) |
|
|
9,142 |
|
|
|
(29,695 |
) |
|
|
4,247 |
|
Free cash flow |
|
$ |
75,216 |
|
|
$ |
3,262 |
|
|
$ |
383,532 |
|
|
$ |
415,198 |
|
|
$ |
103,221 |
|
Reconciliation of GAAP "Operating Expenses" to non-GAAP "Segment Adjusted EBITDA Expense" and Reconciliation of non-GAAP "Adjusted EBITDA" to non-GAAP "Segment Adjusted EBITDA" (in thousands).
Segment Adjusted EBITDA Expense is defined as operating expenses, coal purchases, if applicable, and other income or expense as adjusted to remove certain items from operating expenses that we characterize as unrepresentative of our ongoing operations. Transportation expenses are excluded as these expenses are passed on to our customers and, consequently, we do not realize any margin on transportation revenues. Segment Adjusted EBITDA Expense is used as a supplemental financial measure by our management to assess the operating performance of our segments. Segment Adjusted EBITDA Expense is a key component of EBITDA in addition to coal sales, royalty revenues and other revenues. The exclusion of corporate general and administrative expenses from Segment Adjusted EBITDA Expense allows management to focus solely on the evaluation of segment operating performance as it primarily relates to our operating expenses. Segment Adjusted EBITDA Expense – Coal Operations represents Segment Adjusted EBITDA Expense from our wholly-owned subsidiary, Alliance Coal, LLC ("Alliance Coal"), which holds our coal mining operations and related support activities.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
Three Months Ended |
|
Year Ended |
|
Three Months Ended |
||||||||||||||
|
|
December 31, |
|
December 31, |
|
September 30, |
||||||||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
2024 |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Operating expense |
|
$ |
407,090 |
|
|
$ |
356,563 |
|
|
$ |
1,507,398 |
|
|
$ |
1,368,787 |
|
|
$ |
384,844 |
|
Litigation expense accrual (1) |
|
|
— |
|
|
|
— |
|
|
|
(15,250 |
) |
|
|
— |
|
|
|
— |
|
Outside coal purchases |
|
|
7,879 |
|
|
|
20,410 |
|
|
|
35,791 |
|
|
|
36,149 |
|
|
|
8,192 |
|
Other expense (income) |
|
|
(183 |
) |
|
|
(391 |
) |
|
|
2,062 |
|
|
|
(218 |
) |
|
|
681 |
|
Segment Adjusted EBITDA Expense |
|
|
414,786 |
|
|
|
376,582 |
|
|
|
1,530,001 |
|
|
|
1,404,718 |
|
|
|
393,717 |
|
Segment Adjusted EBITDA Expense – Non Coal Operations (2) |
|
|
(10,072 |
) |
|
|
(7,028 |
) |
|
|
(28,471 |
) |
|
|
(13,973 |
) |
|
|
(7,390 |
) |
Segment Adjusted EBITDA Expense – Coal Operations |
|
$ |
404,714 |
|
|
$ |
369,554 |
|
|
$ |
1,501,530 |
|
|
$ |
1,390,745 |
|
|
$ |
386,327 |
|
| _________________ | |
(1) |
Litigation expense accrual is a |
(2) |
Non Coal Operations represent activity outside of Alliance Coal and primarily consist of Total Royalties, our investments in the advancement of energy and related infrastructure and various eliminations primarily between Alliance Coal and our Coal Royalty segment. |
Segment Adjusted EBITDA is defined as Adjusted EBITDA adjusted for general and administrative expenses. Segment Adjusted EBITDA – Coal Operations represents Segment Adjusted EBITDA from our wholly-owned subsidiary, Alliance Coal, which holds our coal mining operations and related support activities and allows management to focus primarily on the operating performance of our
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
Three Months Ended |
|
Year Ended |
|
Three Months Ended |
||||||||||||||
|
|
December 31, |
|
December 31, |
|
September 30, |
||||||||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
2024 |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Adjusted EBITDA (See reconciliation to GAAP above) |
|
$ |
123,968 |
|
|
$ |
185,419 |
|
|
$ |
714,230 |
|
|
$ |
933,077 |
|
|
$ |
170,395 |
|
General and administrative |
|
|
17,655 |
|
|
|
17,784 |
|
|
|
82,224 |
|
|
|
79,096 |
|
|
|
21,878 |
|
Segment Adjusted EBITDA |
|
|
141,623 |
|
|
|
203,203 |
|
|
|
796,454 |
|
|
|
1,012,173 |
|
|
|
192,273 |
|
Segment Adjusted EBITDA – Non Coal Operations (1) |
|
|
(36,250 |
) |
|
|
(47,026 |
) |
|
|
(170,705 |
) |
|
|
(179,761 |
) |
|
|
(43,021 |
) |
Segment Adjusted EBITDA – Coal Operations |
|
$ |
105,373 |
|
|
$ |
156,177 |
|
|
$ |
625,749 |
|
|
$ |
832,412 |
|
|
$ |
149,252 |
|
_________________ |
|
(1) |
Non Coal Operations represent activity outside of Alliance Coal and primarily consist of Total Royalties, our investments in the advancement of energy and related infrastructure and various eliminations primarily between Alliance Coal and our Coal Royalty segment. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250203029850/en/
Investor Relations Contact
Cary P. Marshall
Senior Vice President and Chief Financial Officer
918-295-7673
investorrelations@arlp.com
Source: Alliance Resource Partners, L.P.
FAQ
What were ARLP's full-year 2024 financial results?
How much was ARLP's Q4 2024 quarterly distribution?
What caused ARLP's Q4 2024 earnings decline?
What is ARLP's coal sales volume guidance for 2025?
How much was ARLP's oil & gas royalty volume growth in 2024?
