Key Developments For Alliance Resource Partners, L.P.
Alliance Resource Partners, L.P. (ARLP.O) (Nasdaq)
Alliance Resource Partners, LP Sees FY 2009 Guidance At Low End Of Prior Range
Alliance Resource Partners, LP announced that for fiscal 2009, it expects results near the lower end of its previous guidance ranges, which were, for coal sales and production, 25.9 to 26.4 million tons, revenues, excluding transportation revenues, $1.20 to $1.30 billion, EBITDA, $335.0 to $365.0 million and net income $185.0 to $215.0 million. According to Reuters Estimates, analysts on average are expecting the Company to report revenue of $1.27 billion and EBITDA of $342 million for the same period.
Alliance Resource Partners, LP Announces Increased Long-Term Coal Sales To TVA
Alliance Resource Partners, LP announced that it has entered into a new coal supply agreement with the Tennessee Valley Authority (TVA) which will increase the Company's annual coal supply to TVA by an additional two million tons per year beginning in 2010. Under the new agreement, beginning next year, the Company will deliver five million tons of coal per year from its Illinois Basin operations to TVA over the next seven years. Under the terms of the new agreement, the parties may extend deliveries of five million tons per year for up to an additional seven years beyond the initial term.
Alliance Resource Partners, LP Increases Quarterly Cash Distribution to $0.745 Per Unit; Lowers FY 2009 Guidance
Alliance Resource Partners, LP announced that the Board of Directors of its managing general partner (Board) increased the cash distribution to unitholders for the 2009 Quarter to $0.745 per unit (an annualized rate of $2.98 per unit), payable on August 14, 2009, to all unitholders of record as of the close of trading on August 7, 2009. The announced distribution represents a 12.9% increase over the cash distribution of $0.66 for the 2008, Quarter and a 2.1% increase over the cash distribution of $0.73 for the first quarter of this year. The Company also announced that for fiscal 2009 it is reducing estimates for revenues, excluding transportation revenues, to a range of $1.20 to $1.30 billion, and is anticipating EBITDA to a range of $335.0 to $365.0 million and net income, to a range of $185.0 to $215.0 million. According to Reuters Estimates, analysts on average are expecting the Company to report revenue of $1.36 billion, EBITDA of $393.9 million and net profit of $153.1 million for the same period.
Alliance Resource Partners, LP Announces Reduced Production At Central Appalachian Operation
Alliance Resource Partners, LP announced that it is reducing previously planned coal production by idling one of the four continuous mining units operating at its Van Lear mine, which is part of the Pontiki mining complex in Martin County, Kentucky. As a result of the reduced operating level at Pontiki, coal production for the remainder of 2009 will be approximately 150,000 to 200,000 tons lower than previously anticipated. Seventy two employees are affected by this action and Alliance, along with the Commonwealth of Kentucky`s Office of Employment and Training, are providing assistance to these dislocated employees.
Alliance Resource Partners, LP Lowers FY 2009 Revenue Guidance; Sees FY 2009 EBITDA And Net Income At Low End Of Prior Guidance
Alliance Resource Partners, LP announced that for fiscal 2009 it is reducing estimates for revenues, excluding transportation revenues, to a range of $1.29 to $1.37 billion, and is currently anticipating EBITDA and net income near the lower end of its previous guidance ranges of $400.0 to $440.0 million and $240.0 to $280.0 million, respectively.
