Fiserv earnings missed by $0.61, revenue fell short of estimates
TULSA, Okla. - On Monday, Alliance Resource Partners (NASDAQ:ARLP) reported third quarter earnings that exceeded analyst expectations, demonstrating improved operational efficiency and higher sales volumes.
The coal producer’s shares were up 4.5% in pre-market trading following the results.
The company posted adjusted earnings of $0.73 per unit for the third quarter, surpassing the analyst consensus of $0.64. Revenue reached $571.4 million, slightly above estimates of $567.05 million, though down 6.9% from $613.6 million in the same quarter last year.
Coal sales volumes increased 3.9% YoY to 8.7 million tons, while production rose 8.5% to 8.4 million tons. Despite lower coal prices, which declined 7.5% from the year-ago quarter, the company’s Adjusted EBITDA grew 9.0% to $185.8 million, driven by reduced operating expenses and higher investment income.
"Alliance delivered strong operational and financial performance in the third quarter, with results tracking in-line with our expectations," said Joseph W. Craft III, Chairman, President and CEO. "The significant infrastructure investments we have made over the past three years are beginning to pay off."
During the quarter, ARLP invested $22.1 million as part of a $25 million commitment in a limited partnership that indirectly owns a 2.7 gigawatt coal-fired power plant, positioning the company to benefit from tightening power markets.
The company declared a quarterly cash distribution of $0.60 per unit, representing an annualized rate of $2.40 per unit. ARLP ended the quarter with total liquidity of $541.8 million, including $94.5 million in cash and cash equivalents.
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