📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

📊 Sector Averages

About

Alliance Resource Partners, L.P., a diversified natural resource company, engages in the production and marketing of coal to utilities and industrial users in the United States.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

See full financials →

📊 Quick Scorecard

Loading…

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 3 quarters analysed

Q3 2025

Confident Specific

Management leads with 'another solid quarter' and provides specific numbers like 8.4 million tons production, $58.78 average price, and 29.1 million tons contracted for 2026. They express strong demand visibility and improved cost performance.

Q4 2025

Mixed

Management expressed confidence in record production, robust contracting, and favorable supply-demand dynamics, while also acknowledging challenges like Mettiki mine shutdown and extended longwall moves. Language like 'solid performance', 'record volumes', and 'outstanding performance' indicates confidence, but the Mettiki WARN notice and cautious guidance on pricing suggest a tempered tone.

Q1 2026 latest

Confident Specific

Management used specific figures (e.g., $155M adjusted EBITDA, $56.40/ton coal, 1M BOE record) and provided detailed guidance updates, but acknowledged challenges like weather delays and Mettiki impairment. Overall tone was factual and forward-looking without defensiveness.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears slightly stronger after this call. Record oil and gas royalty volumes and constructive coal demand drivers (data center load growth, favorable EPA rules) support a positive outlook. However, near-term headwinds include weather-related shipment delays, the Mettiki impairment, and an extended longwall move at Hamilton. The lack of explicit full-year EBITDA guidance and cautious stance on capital returns temper enthusiasm. Key metrics to watch next quarter: recovery of delayed coal shipments, oil and gas royalty volume momentum, and any export market opportunities. Maintaining the distribution coverage ratio above 1x is a near-term priority.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 3 quarters Full tone analysis in Intelligence →

📊 MIXED ARLP Q1 2026 adjusted EBITDA $155M, oil & gas royalties hit record, coal shipments delayed

Revenue & Profitability

Total revenues in Q1 2026 were $516 million, down 4.5% year-over-year. Net income attributable to ARLP was $9.1 million ($0.07 per unit), compared to $74 million in the prior year quarter, impacted by a $37.8 million non-cash impairment and an $11.6 million decline in digital asset fair value. Adjusted EBITDA was $155 million, 3.1% lower than the year-ago quarter but above internal expectations due to record oil and gas royalties.

Outlook

Management sees structural support for coal-fired generation from data center load growth, with over 100 GW under contract in the Eastern U.S. Summer weather is expected to be warmer than normal, driving spot demand. PJM capacity payments are expected to remain elevated to keep existing coal and gas plants online. The export market briefly improved due to the Iran conflict but has softened; management still sees potential windows in summer.

Growth Drivers

The oil and gas royalty segment grew volumes 16.1% year-over-year and is expected to see further growth from increased drilling activity and acquisitions. Coal operations benefit from productivity gains at Riverview, Gibson South, and Tunnel Ridge. ARLP secured 2 million tons of export commitments and added 2.6 million net contracted tons for 2026-2027. The company also invested $16.2 million in minerals acquisitions in Q1.

Balance Sheet & CapEx

Capital expenditures in Q1 2026 were $95.7 million, including $15.5 million for coal reserves. Management maintains full-year guidance for coal sales volumes, sales price, and costs. The multi-year Riverview to Henderson County Mine transition was completed in Q1, bringing Henderson County to full production. No additional longwall moves are planned after Q2 2026 until Q1 2027, improving operational visibility.

Margins

Illinois Basin coal segment adjusted EBITDA expense per ton was $35.20 in Q1 2026, up 1.3% year-over-year due to the extended Hamilton longwall move. Appalachia expense per ton was $62.19, down 10.8% year-over-year driven by higher Tunnel Ridge production. Management expects Appalachia costs to decline 15-20% quarter-over-quarter in Q2 as longwall moves are completed, with further improvement in the second half of 2026.

Key Risks

Risks include weather-related shipment disruptions (200,000 tons delayed in Q1), uncertainty regarding the Mettiki Mine future, dependence on summer weather for spot market demand, and commodity price volatility impacting oil and gas royalties. The unhedged oil and gas royalty portfolio directly exposes earnings to changes in crude oil and natural gas prices. Regulatory and policy shifts remain a consideration.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

🔍

🔎 See cross-company document search → ?

📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-27

Second quarter 2026 saw strong year-over-year and sequential growth in revenue, net income, and adjusted EBITDA, driven by higher coal volumes, improved costs, and record oil & gas royalties. The AllDale III and IV acquisition boosts royalty segment scale and is expected to be accretive. Guidance remains robust, with cost improvements and strong contracted sales supporting outlook.

Q1 2026 Q1 2026 2026-04-27

First quarter 2026 results exceeded expectations with record oil and gas royalty volumes and strong coal operations despite weather disruptions. Guidance for coal and oil/gas segments was maintained or raised, and capital allocation remains disciplined with a strong balance sheet.

Q4 2025 Q4 2025 2026-02-02

Q4 2025 saw a 54% year-over-year increase in adjusted EBITDA and strong net income, despite lower revenues from coal sales. 2026 guidance projects higher coal volumes, disciplined cost control, and robust contract coverage, with key risks around Mettiki mine's future.

Q3 2025 Q3 2025 2025-10-27

Third quarter 2025 saw higher coal volumes and improved margins, with net income of $95.1 million and adjusted EBITDA up 9% year-over-year. Strong contracting and infrastructure investments position the company for increased 2026 volumes and stable costs, while market fundamentals remain robust.

Q2 2025 Q2 2025 2025-07-28

Second quarter 2025 saw lower year-over-year revenue and net income, but sequential growth in sales volumes and improved cost structure. Guidance for 2025 remains strong with high contract coverage, a favorable regulatory environment, and increased flexibility from a reduced distribution.

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯

Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.

📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.