Alliance Resource Posts $139.6M Third-Quarter Net Income
ARLP is trading near its 52-week low of $23 (14% above the low).
Summary
Alliance Resource Partners reported third-quarter net income of $139.6 million, or $1.08 per unit, on revenue of $603 million. The partnership declared a quarterly cash distribution of $0.60 per unit and updated its guidance. For a roughly $3.4 billion coal and royalty partnership, a nine-figure quarterly profit is a meaningful number, and the release now gives the market the revenue and per-unit figures it needed to judge the quarter. This is the first hard look at Q3 after the 10-Q filed August 6 confirmed Q2 results. The updated guidance commentary is the next thing that matters.
At the time of this announcement, ARLP was trading at $26.29 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $3.4B. The 52-week trading range was $23.00 to $29.45. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.