ARLP - Alliance Q1 earnings - exceptional contract pricing to drive 2022 earnings beats

Alliance Resource Partners (ARLP) pre-announced details of Q1 results Tuesday. The company also lifted the dividend 40%, flagged supply chain issues during the quarter, detailed royalty-related tax changes, and increased full-year guidance. Increased contract pricing guidance could surprise markets.  The company expects Q1 net income per share to come in between 27c - 28c, versus Street expectations of 60c. However, the results reflect a one-time non-cash deferred income tax expense related to royalty changes of 29c per share, and a one-time cash tax expense of 5c per share. Adding back these non-recurring tax expenses results in "adjusted" earnings per share of 61c. Adding back a 21c impact from supply chain headwinds, which the company expects to offset later in the year, adjusted earnings for Q1 came in at 83c per share.  The release detailed a series of supply-chain related issues which impacted sales in the quarter. Seasonal barge lock maintenance,

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Alliance Q1 earnings - exceptional contract pricing to drive 2022 earnings beats