Alliance Resource Partners LP (NASDAQ:ARLP) shares are trading lower after the company reported worse-than-expected fourth-quarter earnings per unit and sales results.
Revenue declined 11.2% Y/Y to $625.4 million, missing the consensus of $661.9 million.
Revenue declined Y/Y due to lower coal and oil & gas prices and decreased coal sales volumes. Coal sales price per ton sold decreased 10.7% Y/Y to $60.60 due to lower Illinois Basin export pricing.
Segment adjusted EBITDA stood at $203.2 million, down 35.5% Y/Y, in the quarter. Earnings per unit of $0.88 came below the consensus of $1.14.
As of December 31, 2023, the company had a total liquidity of $492.1 million, ...