The following is a summary of the Alliance Resource Partners, L.P. Common Units (ARLP) Q1 2024 Earnings Call Transcript:
Financial Performance:
Alliance Resource Partners reported revenue of $651.7 million in Q1 2024, down 1.7% YoY but up 4.2% sequentially.
Coal sales volume increased 2.4% to 8.7 million tons, while production fell 1.4%.
Lower average coal sales price per ton and higher EBITDA expense made a negative financial impact.
Net income stood at $158.1 million or $1.21 per unit, down from $191.2 million or $1.45 per unit YoY.
EBITDA for the quarter was $235 million, a decrease from $270.9 million YoY.
Generated cash flows from operating activities of $209.7 million.
Business Progress:
$123.8 million was invested in capital expenditures as part of the 2024 capital program.
Infrastructure projects at Tunnel Ridge, Hamilton, Warrior, and River View complex are set to be completed within the year.
Exploring growth potential in oil and gas royalties and potential platforms for future lines of business.
Reported coal sales of 32.6 million tons for 2024, nearly hitting mid-point of their guidance.
Bitcoin mining contributed profitably, mined 69 in Q1, retained 51, with a Bitcoin inventory valued at $30 million at quarter end.
Longwall moves expected in Q2 and second half of the year.
Expanded into Bitcoin mining with an expectation to mine between 175-190 Bitcoins within the year.
Looking into potential technology investments, specifically in the field of data centers.
More details: Alliance Resource IR
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