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More on Alliance Resource Partners (ARLP) Q1: LP's interest in net income drops 23% to $57.4M,...

More on Alliance Resource Partners (ARLP) Q1: LP's interest in net income drops 23% to $57.4M, with earnings hurt by the mild winter, delayed deliveries and costs on a new mine development. Increases distribution to $1.025 per unit from $0.99 for Q4. Forecasts 2012 coal production of 35.2M-36.4M tons and sales volumes of 35.6M-36.9M tons. Shares +0.7%.

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Comments (1)
  • Balance sheet guru
    , contributor
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    Good news for the rest of the year. More mines, still great earnings, higher distribution.

     

    Alliance nets $83 million in first quarter

     

    By ROD WALTON World Staff Writer
    Published: 4/30/2012 9:22 AM
    Last Modified: 4/30/2012 9:22 AM

     

    The mild winter put a pinch on Alliance Resource Partners LP’s otherwise robust bottom line, but the Tulsa-based coal producer reported Monday that it still earned a $83 million profit for the first quarter.

     

    Alliance returns broke company records 11 straight years. The quarter ending March 31, however, was negatively impacted by delayed deliveries and costs on a new mine development.

     

    First-quarter net income was off 13 percent compared with the same period in 2011. Alliance’s board still increased the quarter cash distribution to $1.025 per unit. Overall revenues grew nearly 5 percent to $443.6 million, buoyed by higher coal sales volumes. Delivery delays forced Alliance to take on 575,000 tons in inventory more than planned.

     

    “During the 2012 quarter, our operations performed well, meeting production and cost targets,” Alliance CEO Joseph Craft said in a statement. “We view this inventory build as a timing delay as we expect these tons will be shipped over the balance of the year and benefit earnings in the upcoming quarters.”
    1 May 2012, 01:13 AM Reply Like
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