Alliance Resource Partners, L.P. Q1 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: $662.9 million, up 43% YoY (Q1 2022: $463.4 million).
  • Coal Sales Price: $71.80/ton, a record high, up 43.6% YoY; sequential increase of 0.7% or $0.50/ton.
  • Coal Sales Volume: 8.5 million tons, up 3.8% YoY.
  • Coal Production: 9.2 million tons, up 0.7% YoY.
  • Net Income: Up 42% YoY.
  • EBITDA: Up 75.2% YoY.
  • Coal Royalty Revenue: Per ton up 12.5% YoY, and 14.6% sequentially.
  • Oil & Gas Royalty Segment: Volumes up 39.5% YoY (BOE basis). Realized prices down 26% YoY, sequentially down 18.2%.
  • Adjusted Segment Coal EBITDA Expense per Ton: $39.66, up 23.7% YoY; sequential decrease noted.
  • Cash Flow Before Growth Investment: $153.4 million, up 208.4% YoY; down 17.7% sequentially due to shipment timing.
  • Liquidity: $703.6 million (includes $271 million cash).
  • Leverage Ratios: Net leverage at 0.44x total debt; 0.19x net debt to trailing 12-month adjusted EBITDA.
  • Distribution: $0.70 per unit quarterly ($2.80 annualized); expected to maintain through 2023.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Greetings, and welcome to the Alliance Resource Partners L.P. First Quarter 2023 Earnings Conference Call. [Operator Instructions]. Please note this conference is being recorded. I will now turn the conference over to your host, Senior Vice President and Chief Financial Officer, Cary Marshall, you may begin. Cary Marshall: Thank you, operator, and welcome, everyone. Earlier this morning, Alliance Resource Partners released its first quarter 2023 financial and operating results, and we will now discuss those results as well as our perspective on current market conditions and outlook for 2023. Following our prepared remarks, we will open the call to answer your questions. Before beginning, a reminder that some of our remarks today may include forward-looking statements 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 in providing these remarks, the partnership has no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law to do so. Finall

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional