Alliance Resource Partners, L.P. Q4 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Alliance Resource Partners - Q4 & Full Year 2021 Earnings Summary

  • Revenue: Full year 2021 total revenues increased by 18.2% year-over-year (YoY) to $1.57 billion, driven by higher coal and oil & gas royalty sales.
  • Coal Segment:
    • Q4 coal sales volume: +12.7% YoY
    • Q4 production volume: +17.4% YoY
    • Full-year coal sales: +4.1 million tons (+14.4% YoY)
    • Full-year coal production: +5.2 million tons (+19.3% YoY)
    • Coal sales revenue increased by $154.7 million YoY
    • Export coal shipments more than tripled YoY to 4 million tons
  • Royalty Segment:
    • Oil & gas royalty revenue: +$32.1 million YoY
    • Coal royalty revenue per ton: +11.9% YoY
    • Oil & gas prices: +93.1% per BOE in Q4
  • Profitability:
    • Q4 net income: +48% YoY
    • Q4 EBITDA: +7.3% YoY
    • Full-year net income: $178.2 million (vs. $27.8 million in 2020 excluding 2020's $157M in non-cash impairment charges)
    • Full-year EBITDA: +23.9% to $479.1 million
  • Cash Flow & Debt:
    • Free cash flow: $302.2 million in 2021

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Operator: Greetings. Welcome to Alliance Resource Partners, L.P. Fourth Quarter 2021 Earnings Conference Call. Please note this conference is being recorded. I will now turn the conference over to Brian Cantrell, Senior Vice President and Chief Financial Officer. Thank you. You may begin. Brian Cantrell: Thank you, Sherry and welcome everyone. Earlier this morning, Alliance Resource Partners released its fourth quarter and year end 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 will open the call to your questions. Before we begin, 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 statement whether as a result of new information, future events or otherwise, unless required by law to do so. Finally, we will also be discussing certain non-

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