Alliance Resource Partners, L.P. Q3 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Q3 2021 Highlights (Compared to Q2 2021)

  • Total Revenue: Increased by $53M to $414.4M.
  • Net Income: Increased by $13.5M to $57.5M ($0.44/unit).
  • EBITDA: Rose by $17.3M to $145.9M.
  • Free Cash Flow: Up $40.3M to $119.7M.
  • Leverage: Reduced to 0.95x, a 12% decline from the previous quarter.
  • Liquidity: Improved by $102.1M to $602.6M.
  • Distribution: $12.7M returned to unitholders; distribution doubled compared to previous quarter.

Q3 2021 vs Q3 2020 Comparison

  • Total Revenues: Increased by 16.8% due to higher coal volumes and oil & gas prices.
  • Net Income: Increased 111.4%; from $27.2M to $57.5M.
  • EBITDA: Increased by 14.4%.
  • Coal Production Volumes: Increased 20.1% (23.5M tons vs. 20.1M tons).
  • Coal Sales Volumes: Increased 15%.
  • Gross Segment Adjusted EBITDA Expense Per Ton Sold: Down 11.1% to $28.82 (vs $32.43).

Business Segment Highlights

  • Coal Sales Revenue: Up 11.1% QoQ to $362.3M.
  • Coal Segment EBITDA: Up 10.9% QoQ to $126.3M.

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Operator: Greetings and welcome to Alliance Resource Partners L.P. Third Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. . As a reminder this conference is being recorded. It is now my pleasure to introduce Brian Cantrell, Senior Vice President and Chief Financial Officer. Thank you, you may begin. Brian L. Cantrell: Thank you, Daryl and welcome everyone. Earlier this morning, Alliance Resource Partners released its third quarter 2021 financial and operating results, and we will now discuss these results as well as our perspective on market conditions and outlook. Following our prepared remarks, we'll open the call to 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 that are 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. In providing these remarks, the partnership has no obligation to publicly update or revise any forward-looking statements, whether as a result of new infor

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