Alliance Resource (ARLP) Q4 Earnings & Sales Miss Estimates
Alliance Resource Partners, L.P. ARLP reported fourth-quarter 2023 operating earnings per unit (EPU) of 88 cents, which missed the Zacks Consensus Estimate of $1.14 by 22.8%. The bottom line also declined 46% from the year-ago quarter’s $1.63.
The firm reported full-year 2023 EPU of $4.81, up 9.6% from the previous year’s figure of $4.39.
Revenues
Total revenues were $625.4 million, which missed the Zacks Consensus Estimate of $673 million by 7.1%. The top line also decreased 11.2% from $704.2 million reported in the year-ago quarter.
The firm reported full-year 2023 revenues of $2,566.7 million, up 6.1% from the prior-year quarter’s figure of $2,420 million.
Alliance Resource Partners, L.P. Price, Consensus and EPS Surprise
Alliance Resource Partners, L.P. price-consensus-eps-surprise-chart | Alliance Resource Partners, L.P. Quote
Highlights of the Release
The firm reported total operating expenses of $509.7 million, up 5.2% year over year. This was due to higher transportation expenses and outside coal purchases. However, operating expenses (excluding depreciation, depletion and amortization) totaled $356.6 million, down 5.8% year over year.
Income from operations amounted to $115.7 million, down 47.3% from the prior-year quarter’s reported figure.
The firm reported interest expense of $6.2 million compared with $9 million in the prior-year period.
Financial Highlights
Cash and cash equivalents totaled $59.8 million as of Dec 31, 2023, compared with $296 million as of Dec 31, 2022.
Long-term debt was $316.8 million as of Dec 31, 2023, compared with $397.2 million as of Dec 31, 2022.
Cash provided by operating activities for the year ended December 2023 was $830.6 million compared with $802.3 million in the year-ago period.
Guidance
Alliance Resource expects 2024 total sales in the range of 34-35.8 million short tons. Total coal sales price is expected to be in the band of $61.75-$63.75 per ton.
Total capital expenditures for 2024 are expected to be in the $450-$500 million range. Net interest expense is expected to be in the band of $20-$25 million.
Zacks Rank
Alliance Resource currently has a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Consol Energy CEIX is slated to report fourth-quarter results on Feb 6, before market open. The Zacks Consensus Estimate for earnings is pegged at $4.28 per share, implying a year-over-year increase of 10%.
The Zacks Consensus Estimate for sales is pinned at $590.1 million, It delivered an average earnings surprise of 3.5% in the last four quarters.
Peabody Energy BTU is slated to report fourth-quarter results on Feb 8, before market open. The Zacks Consensus Estimate for earnings is pegged at $1.41 per share.
The Zacks Consensus Estimate for sales is pinned at $1.24 billion, implying a year-over-year decrease of 24%.
Warrior Met Coal HCC is slated to report fourth-quarter results on Feb 14, after market close. The Zacks Consensus Estimate for earnings is pegged at $3.16 per unit, implying a year-over-year increase of 66.3%.
The Zacks Consensus Estimate for sales is pinned at $416.3 million, It delivered an average earnings surprise of 3.4% in the last four quarters.
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Peabody Energy Corporation (BTU) : Free Stock Analysis Report
Alliance Resource Partners, L.P. (ARLP) : Free Stock Analysis Report
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Consol Energy Inc. (CEIX) : Free Stock Analysis Report
