Alliance Resource Partners, L.P. Q1 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Q1 2026 results exceeded internal expectations, driven primarily by record oil & gas royalty BOE volumes and improved commodity pricing.
  • Coal production and operating performance were generally on target, though weather disruptions delayed ~200k tons of shipments (expected to recover later in 2026).
  • Adjusted EBITDA: $155M • Down 3.1% vs. Q1 2025 • Down 18.9% vs. Q4 2025
  • Net income: $9.1M ($0.07/unit), sharply lower than Q1 2025’s $74M ($0.57/unit), largely due to: • Lower coal sales revenue • Higher depreciation • $11.6M decrease in digital asset fair value • $37.8M noncash impairment at the Metiki mine
  • Total revenue: $516M • Down 4.5% vs. Q1 2025 • Down 3.6% sequentially

Coal Operations Performance

  • Total coal production: 8.0M tons (vs. 8.5M last year).
  • Coal sales volumes: 7.9M tons (up from 7.8M last year; down from 8.1M last quarter).
  • Average coal sales price: $56.40/ton • Down 6.5% vs. Q1 2025 • Down 2% sequentially • Decline driven by roll‑off of high‑priced 2022 contracts

Illinois Basin Segment

  • Sales volumes: 6.1M tons (up 0.4% vs. last year; down 5.9% sequentially).
  • Sales price: $51.05/ton (down 7.4% vs. last year; slightly up vs. last quarter).

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Operator: Greetings, and welcome to the Alliance Resource Partners, L.P. First Quarter 2026 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Cary P. Marshall, Chief Financial Officer of Alliance Resource Partners, L.P. Thank you, sir. You may begin. Cary P. Marshall: Good morning, and welcome, everyone. Earlier today, Alliance Resource Partners, L.P. released its first quarter 2026 financial and operating results. We will review the quarter, discuss our perspective on current market conditions and outlook for 2026, and then open the call to answer your questions. Before beginning, a reminder that some of our remarks today may include forward-looking statements, which 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. Providing these remarks, the partnership has no obligation to publicly update or revise any forward-looking statement whether as a result

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