This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Alliance Resource Partners, L.P. Reports Record Quarterly Revenues And EBITDA; Increases Quarterly Cash Distribution 3.7% To $1.0625 Per Unit; And Updates 2012 Guidance

Stocks in this article: ARLP

Alliance Resource Partners, L.P. (NASDAQ: ARLP) today reported financial results for the quarter ended June 30, 2012 (the "2012 Quarter"). Led by record coal sales volumes and pricing, revenues increased 15.7% to a record $529.9 million and EBITDA climbed 6.0% to a record $155.5 million, each as compared to the quarter ended June 30, 2011 (the "2011 Quarter”). Compared to the 2011 Quarter, net income declined 2.8% to $95.5 million, or $1.83 per basic and diluted limited partner unit due to anticipated increases in depreciation, depletion and amortization expense and the pass through of losses related to investments in White Oak Resources, LLC (“White Oak”). (For a definition of EBITDA and related reconciliations to comparable GAAP financial measures, please see the end of this release).

ARLP also announced that the Board of Directors of its managing general partner increased the cash distribution to unitholders for the 2012 Quarter to $1.0625 per unit (an annualized rate of $4.25 per unit), payable on August 14, 2012 to all unitholders of record as of the close of trading on August 7, 2012. The announced distribution represents a 15.2% increase over the cash distribution of $0.9225 per unit for the 2011 Quarter and a 3.7% increase over the cash distribution of $1.025 per unit for the first quarter of 2012 (the “Sequential Quarter”).

"ARLP’s operating strength, quality customer relationships and solid contract position allowed us to overcome challenging market conditions and deliver another quarter of excellent results to our unitholders," said Joseph W. Craft III, President and Chief Executive Officer. "In addition to posting record EBITDA, sales volumes and revenue, our team’s accomplishments during the 2012 Quarter continued to strengthen ARLP’s long-term growth prospects. Operationally, we commenced longwall operations in mid-May at our Tunnel Ridge mine, completed the acquisition of the Onton No. 9 mine and continued to make progress at the Gibson South and White Oak mine development projects. On the sales side, we continued to execute ARLP’s strategy of securing long-term commitments for our production. To that end, we recently reached agreement for the sale of approximately 5.6 million tons over a six-year period. Since the beginning of the year, we have now made new coal sales commitments of 27 million tons, plus or minus 10% depending on customer nominations, for deliveries through 2018. Financially, we improved our liquidity by approximately $500 million by entering into new revolving credit and term loan facilities. These accomplishments continue to position ARLP for long-term growth giving our Board the confidence to again provide our unitholders with an attractive distribution increase for the seventeenth consecutive quarter."

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,030.99 -26.10 -1.27%
NASDAQ 4,687.3870 -84.3760 -1.77%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs