Alliance Resource Partners, L.P. Q1 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

Key Financial Highlights (Q1 2020 vs. Q1 2019)
  • Coal Sales Revenue: $314.6 million, down 33.9%
  • Coal Sales Volumes: Decreased 29.7%
  • Average Sales Price per Ton (Coal): Down 5.9% to $43.39
  • Coal Segment Adjusted EBITDA: $97.9 million, down 46.9%
  • Coal Operating Expenses: Down 22.6%; per ton expenses up 10.6% to $32.25
  • Minerals Segment Volumes: Increased 51.4% Y/Y
  • Minerals Segment Adjusted EBITDA: $13.8 million, down 5.6% sequentially; up 50.6% Y/Y
  • Adjusted Net Income: $12.2 million (down from $106.5 million in Q1 2019)
  • Adjusted EBITDA (Total): $98.3 million (down from $188.8 million in Q1 2019)
  • Liquidity: $258.4 million
  • Total Debt / TTM EBITDA: Approx. 1.6x
Significant Events & Operational Impact Due to COVID-19
  • Temporary idling of Illinois Basin and MC Mining Complex production (effective March 30)
  • Production continued at Tunnel Ridge and Mettiki Mines (4-day work week)
  • Health and safety prioritized, PPE, staggered shifts, employee medical benefits maintained

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Operator: Good morning and welcome to Alliance Resource Partners, L.P. First Quarter 2020 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Brian Cantrell, Senior Vice President and Chief Financial Officer. Please go ahead. Brian Cantrell: Thank you, Allie, and welcome everyone. Earlier this morning, Alliance Resource Partners released its first quarter 2020 earnings, and we’ll now discuss these results as well as our prospective on market conditions. Following our prepared remarks, we’ll open the call to your questions. Before we begin, a reminder that some of our remarks today may include forward-looking statements that are subject to a variety of risks, uncertainties and assumptions, contained in our filings from time-to-time with the Securities and Exchange Commission and are also reflected in this morning’s press release. While these forward-looking statements are based on information currently available to us, if one or more of these risks or uncertainties materialize or if our underlying assumptions prove incorrect, actual results may vary materially from those we projected or expected. And providing these remarks, the partnership has no obligation to publicly update or revise any forward-looking statement whether as a result of new information, future events or otherwise, unless required by law to do so. Finally, we will be discussin

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