Alliance Resource Partners LP stock is up 12% in premarket trades on Monday after the coal producer said it set a record for fourth-quarter revenue and...
Alliance Resource Partners LP ARLP stock is up 12% in premarket trades on Monday after the coal producer said it set a record for fourth-quarter revenue and profit, and announced a $72.3 million acquisition. Tulsa, Okla, company said its 2023 expected coal sales volumes are about 94% committed and priced above 2022 per ton levels. It also increased its unit repurchase program to $100 million. “Europe’s shift from Russian energy and U.S.
and its allies’ economic sanctions are lowering Russian supply to the world, changing global energy trade routes and energy markets for several years to come, if not permanently. U.S. natural gas and coal exports should benefit in 2023 and beyond,” said Alliance Global Resources CEO Joseph W. Craft III. Alliance Resource Partners said its fourth-quarter net income rose by about four times to $214.45 million, or $1.63 per unit, from $51.83 million, or 40 cents a share, in the year-ago quarter.
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