LONDON, UK / ACCESSWIRE / February 07, 2018 / Active-Investors.com has just released a free earnings report on Alliance Resource Partners, L.P. (NASDAQ: ARLP) ("ARLP"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ARLP. Alliance Resource Partners reported its fourth quarter and fiscal 2017 operating and financial results on January 29, 2018. The Coal-producing master limited partnership (MLP) provided guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Alliance Resource Partners most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
ARLP reported total revenues of $483.2 million in Q4 2017, down 8% compared to $527.4 million for Q4 2016, as coal sales revenues declined due to reduced coal sales volumes and prices. The Company's reported numbers beat analysts' estimates by $4.85 million.
For full year (FY) 2017, ARLP's total revenues were $1.80 billion compared to $1.93 billion for FY16, as the anticipated reduction in coal sales prices more than offset increased sales volumes.
During Q4 2017, ARLP's earnings before interest, tax, depreciation, and amortization (EBITDA) of $159.9 million was lower compared to $217.8 million in Q4 2016.
For Q4 2017, net income attributable to ARLP declined to $74.2 million, or $0.55 per diluted limited partner unit, compared to $119.6 million, or $1.30 per diluted limited partner unit, for Q4 2016, attributed to lower revenue. The Company's earnings fell short of Wall Street's estimates for earnings of $0.58 per share.
Net income attributable to ARLP declined to $303.6 million, or $2.80 per diluted limited partner unit, for FY17 compared to $339.4 million, or $3.39 per diluted limited partner unit, for FY16.
Consolidated Financial Results
During Q4 2017, coal sales revenues totaled $454.9 million compared to $504.2 million for Q4 2016, due to reduced coal sales volumes and prices. Lower sales volumes in the reported quarter reflected the closure of the Pattiki mine in Q4 2016, reduced sales volumes the Company's River View and Tunnel Ridge mines, partially offset by strong sales performance at ARLP's Mettiki and Gibson South mines. ARLP's coal sales prices were also lower in Q4 2017, falling to $45.03 per ton sold, reflecting a 6.2% drop compared to $48.01 per ton sold in Q4 2016.
For Q4 2017, ARLP's operating expenses grew 5.6% to $298.3 million resulting in higher segment adjusted EBITDA expense per ton of $29.48 in the reported quarter compared to $26.87 in the year earlier same quarter. Depreciation, depletion, and amortization decreased $15.9 million to $74.9 million in Q4 2017 primarily due to the closure of the Pattiki mine.
ARLP's tons sold in Q4 2017 dropped 7.8% in the Illinois Basin compared to Q4 2016 as a result of the closure of its Pattiki mine and reduced sales volumes from the River View mine. Strong sales performance at the Mettiki mine drove coal sales tons for Q4 2017 higher in Appalachia by 8.6% on a y-o-y basis. ARLP ended the reported quarter with total coal inventory of 0.8 million tons, including approximately 266,000 in transit tons for deliveries to the export markets, a reduction of approximately 0.2 million tons compared to the end of FY16.
During Q4 2017, ARLP's coal sales price realizations decreased 6.2% per ton sold on a y-o-y basis, primarily due to the expiration of higher-priced legacy contracts.
For FY18, ARLP is forecasting total capital expenditures from operating activities to be in the range of $220.0 million to $240.0 million. Considering its current five-year planning horizon, ARLP is estimating total average maintenance capital expenditures of approximately $4.72 per ton produced for long-term distribution planning purposes.
During FY18, ARLP is projecting coal production in the band 39.0 million to 40.0 million tons and sales volumes are expected in a range of 39.5 million to 40.5 million tons. ARLP is estimating 2018 revenues, excluding transportation revenues, in a range of $1.78 billion to $1.82 billion, net income in a range of $290.0 million to $310.0 million and EBITDA in a range of $610.0 million to $630.0 million.
ARLP currently anticipates its average coal sales price per ton at the midpoint of its 2018 guidance ranges will be 2.0% to 3.0% lower than 2017 realizations. The Company's total segment adjusted EBITDA per ton sold in FY18 is expected to be approximately 2.0% to 6.0% lower on a y-o-y basis.
Stock Performance Snapshot
February 06, 2018 - At Tuesday's closing bell, Alliance Resource Partners' stock fell 3.29%, ending the trading session at $19.10.
Volume traded for the day: 853.78 thousand shares, which was above the 3-month average volume of 332.43 thousand shares.
After yesterday's close, Alliance Resource Partners' market cap was at $2.56 billion.
Price to Earnings (P/E) ratio was at 5.46.
The stock has a dividend yield of 10.21%.
The stock is part of the Basic Materials sector, categorized under the Industrial Metals & Minerals industry. This sector was up 1.8% at the end of the session.
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