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Alliance Resource Partners, L.P. (ARLP - Free Report) reported first-quarter 2024 operating earnings per unit (EPU) of $1.21, which surpassed the Zacks Consensus Estimate of $1.01 by 19.8%. The bottom line declined 16.6% from the year-ago quarter’s level of $1.45.
Revenues
Total revenues were $651.7 million, which surpassed the Zacks Consensus Estimate of $625 million by 4.3%. The top line also decreased 1.7% from $662.9 million reported in the year-ago quarter.
Alliance Resource Partners, L.P. Price, Consensus and EPS Surprise
The firm reported total operating expenses of $491.4 million, up 7.8% year over year. Operating expenses (excluding depreciation, depletion and amortization) totaled $363.9 million, up 7.4% on a year-over-year basis.
Income from operations amounted to $160.3 million, down 22.7% from the prior-year quarter’s reported figure.
The firm reported interest expense of $7.7 million compared with $12.7 million in the prior-year period.
Financial Highlights
Cash and cash equivalents totaled $133.9 million as of Mar 31, 2024, compared with $59.8 million as of Dec 31, 2023.
Long-term debt was $354.6 million as of Mar 31, 2024, compared with $316.8 million as of Dec 31, 2023.
Cash provided by operating activities for the first three months of 2024 totaled $209.7 million compared with $221.7 million in the year-ago period.
Guidance
Alliance Resource expects 2024 total sales in the range of 34-35.8 million short tons. Total coal sales price is expected to be in the band of $61.75-$63.75 per ton.
Total capital expenditures for 2024 are expected to be in the $450-$500 million range. Net interest expense is projected to be in the band of $20-$25 million.
Warrior Met Coal (HCC - Free Report) is slated to report first-quarter results on May 1, after market close. The Zacks Consensus Estimate for first-quarter earnings is pegged at $2.02 per unit.
The Zacks Consensus Estimate for sales is pinned at $404.25 million, It delivered an average earnings surprise of 6.6% in the last four quarters.
Peabody Energy (BTU - Free Report) is slated to report first-quarter results on May 2, before market open. The Zacks Consensus Estimate for first-quarter earnings is pegged at 30 cents per share.
The Zacks Consensus Estimate for sales is pinned at $980.9 million, implying a year-over-year decrease of 28.1%.
Consol Energy (CEIX - Free Report) is slated to report first-quarter results on May 7, before market open. The Zacks Consensus Estimate for first-quarter earnings is pegged at $2.19 per share, implying a year-over-year decrease of 66.6%.
The Zacks Consensus Estimate for sales is pinned at $521.5 million. CEIX delivered an average earnings surprise of 5.2% in the last four quarters.
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Alliance Resource (ARLP) Q1 Earnings & Sales Beat Estimates
Alliance Resource Partners, L.P. (ARLP - Free Report) reported first-quarter 2024 operating earnings per unit (EPU) of $1.21, which surpassed the Zacks Consensus Estimate of $1.01 by 19.8%. The bottom line declined 16.6% from the year-ago quarter’s level of $1.45.
Revenues
Total revenues were $651.7 million, which surpassed the Zacks Consensus Estimate of $625 million by 4.3%. The top line also decreased 1.7% from $662.9 million reported in the year-ago quarter.
Alliance Resource Partners, L.P. Price, Consensus and EPS Surprise
Alliance Resource Partners, L.P. price-consensus-eps-surprise-chart | Alliance Resource Partners, L.P. Quote
Highlights of the Release
The firm reported total operating expenses of $491.4 million, up 7.8% year over year. Operating expenses (excluding depreciation, depletion and amortization) totaled $363.9 million, up 7.4% on a year-over-year basis.
Income from operations amounted to $160.3 million, down 22.7% from the prior-year quarter’s reported figure.
The firm reported interest expense of $7.7 million compared with $12.7 million in the prior-year period.
Financial Highlights
Cash and cash equivalents totaled $133.9 million as of Mar 31, 2024, compared with $59.8 million as of Dec 31, 2023.
Long-term debt was $354.6 million as of Mar 31, 2024, compared with $316.8 million as of Dec 31, 2023.
Cash provided by operating activities for the first three months of 2024 totaled $209.7 million compared with $221.7 million in the year-ago period.
Guidance
Alliance Resource expects 2024 total sales in the range of 34-35.8 million short tons. Total coal sales price is expected to be in the band of $61.75-$63.75 per ton.
Total capital expenditures for 2024 are expected to be in the $450-$500 million range. Net interest expense is projected to be in the band of $20-$25 million.
Zacks Rank
Alliance Resource currently has a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Warrior Met Coal (HCC - Free Report) is slated to report first-quarter results on May 1, after market close. The Zacks Consensus Estimate for first-quarter earnings is pegged at $2.02 per unit.
The Zacks Consensus Estimate for sales is pinned at $404.25 million, It delivered an average earnings surprise of 6.6% in the last four quarters.
Peabody Energy (BTU - Free Report) is slated to report first-quarter results on May 2, before market open. The Zacks Consensus Estimate for first-quarter earnings is pegged at 30 cents per share.
The Zacks Consensus Estimate for sales is pinned at $980.9 million, implying a year-over-year decrease of 28.1%.
Consol Energy (CEIX - Free Report) is slated to report first-quarter results on May 7, before market open. The Zacks Consensus Estimate for first-quarter earnings is pegged at $2.19 per share, implying a year-over-year decrease of 66.6%.
The Zacks Consensus Estimate for sales is pinned at $521.5 million. CEIX delivered an average earnings surprise of 5.2% in the last four quarters.