Alliance Res Partners Azioni (NASDAQ: ARLP)

Ultime notizie per Alliance Res Partners (NASDAQ:ARLP) Azioni

Alliance Res Partners

Alliance Resource Partners LP operates as a coal mining company based in the United States. It has four segments Illinois Basin, Appalachia, Oil & Gas Royalties and Coal Royalties. The Illinois Basin comprises underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia. The Appalachia segment comprises the Mettiki mining complex, the Tunnel Ridge mining complex and the MC Mining complex. The Oil & Gas Royalties has oil & gas mineral interests held by AR Midland and AllDale I & II and includes Alliance Minerals' equity interests in both AllDale III and Cavalier Minerals. The Coal Royalties has included coal mineral reserves and resources owned or leased by Alliance Resource Properties.

Alliance Resource Partners, L.P. - Common Units Representing Limited Partnership Interests

Alliance Resource Partners LP

The largest Chinese coal producer, CHN Energy Investment Group, has announced a $24 billion investment in a coal-to-petroleum facility in Hami, Xinjiang. The project, scheduled to begin production in 2027, aims to convert excess coal into <a target="_blank" href="https://www.benzinga.com/topic/oil" rel="noreferrer noopener">petroleum products</a>.
The plant should produce synthetic fuels like gasoline and diesel using cutting-edge liquefaction technology. According to Bloomberg's <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-10-10/china-s-top-miner-to-spend-24-billion-on-coal-to-oil-project" rel="noreferrer noopener">report</a>, this would reduce China's reliance on imported oil and manage the surplus coal production.
China produced a record 4.7 billion tons of coal in 2023, while its coal consumption in electricity generation has begun to decline due to an increased focus on renewable energy.
President Xi Jinping has committed to reducing coal use starting in 2026, pushing coal producers to explore alternative uses, like petrochemical feedstocks. Such efforts continue the trend, which shows a 24% growth of coal-to-oil production from 2019 to 2023, reaching 11 million tons annually.
The Hami facility will employ both direct and indirect coal liquefaction technologies. Direct liquefaction converts coal into liquid hydrocarbons by applying heat, hydrogen, and catalysts. It is relatively simple but requires high-quality coal.
Indirect liquefaction, on the other hand, first gasifies coal into syngas, which is then transformed into liquid fuel, offering greater flexibility in the types of coal used. Both methods will be powered by renewable energy sources, such as wind and solar, which aligns with China's green energy transition efforts.
Wang Lining, director of the oil market department of the Economics and Technology Research Institute, said that this project sets a precedent for large-scale application of such technologies, <a target="_blank" href="https://www.chinadaily.com.cn/a/202410/10/WS67073092a310f1265a1c6d37.html" rel="noreferrer noopener">per</a> China Daily.
Such projects could shield China from oil price volatility, as it is the world's largest importer of crude oil. In 2023, its imports reached 11.3 million barrels per day, growing over 10% compared to 2022.
Still, the profitability of coal-to-oil conversions often depends on a wide gap between coal and oil prices. When oil prices fall or coal becomes more expensive, margins can shrink significantly.
China has been ramping up its coal-to-oil projects. From 2019 to 2023, coal-to-oil production capacity surged by 24%, reaching 11 million tons annually.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/10/41257792/oil-dips-to-73-as-china-withholds-stimulus-biden-attempts-to-contain-netanyahu-over-israels-attack-o" target="_blank" rel="noreferrer noopener">Oil Dips To $73 As China Withholds Stimulus, Biden Attempts To Contain Netanyahu Over Israel's Attack On Iran</a>
Photo by anna-evans for Unsplash

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China Pledges $24B For Coal-to-Oil Infrastructure To Reduce Oil Imports

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Shares of coal companies are trading lower amid a drop in the price of the commodity. Weakness may be due to August's ISM Manufacturing PMI data indicating an economic contraction and pending non-farm payrolls data that may determine the size of future rate cuts.

Benchmark analyst Nathan Martin maintains Alliance Res Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) with a Buy and raises the price target from $25 to $26.

Price Target

Analyst Ratings

Benchmark Maintains Buy on Alliance Res Partners, Raises Price Target to $26

Wall Street opened higher at the start of a data-heavy week, with traders adopting an optimistic tone ahead of crucial earnings<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40016926/markets-brace-for-crucial-interest-rate-shake-up-what-to-expect-from-federal-reserv"> reports and economic events.</a>
The S&amp;P 500 rose 0.4% by midday trading in New York, while the tech-heavy Nasdaq 100 climbed 0.8%. The blue-chip index inched 0.1% up, and small caps slipped 0.8%.
Four out of the six largest U.S. corporations – including Microsoft Corp., Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) – are set to report their latest quarterly earnings between Tuesday and Thursday.
Meanwhile, the Federal Reserve will hold its two-day Federal Open Market Committee (FOMC) meeting, concluding Wednesday with the rate statement and Fed Chair Jerome Powell&#8216;s press conference.
The Fed is widely expected to keep interest rates steady, but traders will closely watch for any signals of a potential rate cut in September. Market-implied odds currently fully factor in a September rate cut, as shown by CME Group&#8217;s FedWatch tool.
Additionally, crucial labor market statistics will be released this week, including the June Job Openings and Labor Turnover Survey (JOLTs) on Tuesday, July private payroll numbers from Automatic Data Processing Inc. on Wednesday, and the highly anticipated official employment report for July on Friday.
Treasury yields were mostly flat for shorter-dated maturities, while yields for both the 10-year and 30-year tenors fell by 2 basis points on Monday. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rose 0.4%.
In commodities markets, oil fell 1.1%, with West Texas Intermediate (WTI) light crude dropping below $76, hitting a fresh 7-week low as bearish demand developments in China outweighed supply concerns from <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40015199/oil-prices-remain-under-pressure-despite-rising-middle-east-tensions-a-bearish-tria">rising Middle East tensions.</a> U.S. natural gas prices also fell 1.4%.
Gold inched 0.5% lower, while copper and silver declined 0.7% and 1.4%, respectively. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) held steady at around $68,000, failing to rally significantly despite bullish headlines over the weekend.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,173.24</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,482.99</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,620.03</td>
<td>0.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,242.45</td>
<td>-0.8%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:20 p.m. ET</figcaption></figure>
According to <a href="https://pro.benzinga.com/dashboard/?utm_source=BZprocontent072924&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.4% higher to $546.49.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;held steady at $406.12.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) rose 0.8% to $466.90.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.8% to 222.43.</li>
<li>Sector-wise, the Consumer Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)&nbsp;outperformed, up by 1.7%, while the&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 1.2%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rallied 5% after a bullish note from Morgan Stanley putting the EV-maker as the analyst &#8216;top pick&#8217; in the U.S. automotive industry. </li>
<li>Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) rose 2.6% after Fubon issued a &#8216;New Buy&#8217; rating with price target at $4,533. </li>
<li>Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) fell 1.6% after Piper Sandler cut the company&#8217;s rating to Neutral. </li>
</ul>
Stocks moving on earnings were:
<ul>
<li>McDonalds Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) soared 4.3%, despite reporting disappointing profits.</li>
<li>ON Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) skyrocketed 13.5%, eyeing the best one-day gain since November 2022, amid stronger-than-expected quarterly results.</li>
<li>Revvity Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVTY#NYSE">RVTY</a>) climbed 6.4%. </li>
<li>CNA Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNA#NYSE">CNA</a>) rose 3.7%. </li>
<li>Affiliated Managers Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMG#NYSE">AMG</a>) rose 3.9%. </li>
<li>Alliance Resource Partners L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) tumbled 6%. </li>
</ul>
Large-cap stocks reporting earnings after the close include: 
<ul>
<li>Hologic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>).</li>
<li>Woodward Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>).</li>
<li>F5 Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>).</li>
<li>Chesapeake Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NYSE">CHK</a>). </li>
<li>Amkor Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>).</li>
<li>Crane Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CR#NYSE">CR</a>). </li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40013144/if-economic-performance-were-an-olympic-sport-us-economy-would-win-gold-says-market">If Economic Performance Were An Olympic Sport, &#8216;US Economy Would Win Gold,&#8217; Says Market Veteran</a></li>
</ul>
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Wall Street Rises Ahead Of Big Tech Earnings, Fed Meeting; Tesla Rebounds, Oil Prices Drop To 7-Week Lows: What's Driving Markets Monday?

Alliance Resource Partners LP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) shares are trading lower after the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b40007261/alliance-resource-partners-l-p-reports-second-quarter-financial-and-operating-results-declares-qua" rel="noreferrer noopener">company reported second-quarter</a> results below the consensus.
Revenue declined 7.6% year-over-year to $593.35 million, missing the consensus of $632.338 million.
Total revenues fell due to an 11.8% drop in coal sales volumes from transportation delays, partially offset by a 3.8% increase in coal sales prices.
Segment adjusted EBITDA stood at $202 million, down 25% Y/Y, in the quarter, and margin fell 793 bps to 34%.
Earnings per unit of $0.77 fell short of the consensus of $0.95.
As of June 30, 2024, the company had a total liquidity of $666 million, including $203.7 million of cash and cash equivalents.
Coal sales prices rose 3.8% year-over-year to $65.30 per ton, while oil &amp; gas royalty volumes increased 6.8% to 817 MBOE.
&#8220;Coal sales volumes during the 2024 Quarter were impacted by flooding on the Ohio River, delaying barge deliveries. Rail and port logistics were disrupted by the Baltimore bridge incident, which as time progressed impacted shipments from our Appalachia rail operations. These delays, combined with lower export sales, lifted our inventories higher by 0.8 million tons compared to the Sequential Quarter,&#8221; commented Joseph W. Craft III, Chairman, President, and Chief Executive Officer.
Additionally, our Oil &amp; Gas Royalties segment reported a 6.8% increase in BOE volumes year-over-year during the 2024 Quarter as our Permian-weighted minerals portfolio continues to realize production growth from recently drilled and completed wells.&#8221;
FY24 Guidance, updated: The company now expects sales volumes in coal operations of 33.50M-34.50M short tons (prior 34.0M-35.8M short tons)
Distributions: On July 26, 2024, ARLP&#8217;s Board approved 2024 Q2 cash distribution of $0.70 per unit, payable on August 14, to unitholders of record on August 7, 2024.
Mr. Craft concluded, &#8220;The increase in coal-fired generation and inventory drawdown is constructive for the U.S. thermal coal market and for ARLP as we look forward to next year and beyond. We remain confident in the core fundamentals expected to drive rapid growth in electricity demand for many years to come, including the increasing power requirements stemming from AI, data centers, and the onshoring of U.S. manufacturing.&#8221;
Price Action: ARLP shares are trading lower by 4.85% at $24.54 at the last check on Monday.
Photo by Andrey Andreyev on Unsplash.

Guidance

Movers

Alliance Resource Partners' Q2 Earnings Fall Short, Revenue Drops Amid Transportation Delays, Stock Falls

Alliance Resource shares are trading lower after the company reported worse-than-expected Q2 financial results. Additionally, the company lowered its FY24 revenue guidance for its coal operations.

&quot;Turning to the export markets, net back pricing for high sulfur Illinois Basin coal has declined to a level that we have decided it is prudent to slow down production for the back half of the year. Therefore, we are adjusting 2024 full-year&nbsp;guidance&nbsp;for our coal operations. At the midpoint, we now expect to sell approximately 34.0 million tons in 2024, or&nbsp;2.6%&nbsp;below the mid-point of our original&nbsp;guidance&nbsp;for the year. Due to the increased summer burn, we now expect more than half of our uncontracted tonnage position will be sold in the domestic market.&quot;

Alliance Resource Partners Updates 2024 Guidance: Now Expects Sales Volumes In Coal Operations Of 33.50M-34.50M Short Tons (prior 34.0M-35.8M Short Tons)

Alliance Res Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) reported quarterly earnings of $0.77 per share which missed the analyst consensus estimate of $0.95 by 18.95 percent. This is a 40.77 percent decrease over earnings of $1.30 per share from the same period last year. The company reported quarterly sales of $593.350 million which missed the analyst consensus estimate of $632.338 million by 6.17 percent. This is a 7.55 percent decrease over sales of $641.836 million the same period last year.

Earnings Misses

Alliance Res Partners Q2 2024 GAAP EPS $0.77 Misses $0.95 Estimate, Sales $593.350M Miss $632.338M Estimate

U.S. technology and business leaders, including Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) co-founder Joe Lonsdale, venture capital pioneer Doug Leone, and the Winklevoss twins, have donated to a new super-political action committee supporting Donald Trump&#8217;s presidential bid.
America PAC has raised more than $8.7 million since its launch in June, the Financial Times <a target="_blank" href="https://www.ft.com/content/c1aeef78-590f-4f65-97ff-40f96106254a" rel="noreferrer noopener">cites</a> from a public filing.
Several $1 million donations came from Silicon Valley investors who have recently publicly supported Trump.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39787824/as-trumps-chances-of-presidency-improve-analysts-say-his-return-to-white-house-could-boost-these-3-s" rel="noreferrer noopener">As Trump&#8217;s Chances Of Presidency Improve, Analysts Say His Return To White House Could Boost These 3 Sectors</a>
The donors include Sequoia partner Shaun Maguire, Valor Equity Partners founder Antonio Gracias, Doug Leone, and Joe Lonsdale.
The Winklevoss twins, Cameron and Tyler Winklevoss, each contributed $250,000. Additionally, coal titan Joe Craft, CEO of Alliance Resource Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>), and Jimmy John Liautaud, founder of the Jimmy John&#8217;s sandwich chain, made $1 million in donations.
One person with direct knowledge of the super PAC mentioned that Elon Musk plans to commit $45 million a month, <a target="_blank" href="https://t.co/khhwZ6eli6" rel="noreferrer noopener">WSJ report says</a>.
However, Elon Musk &#8216;denied&#8217; the report, although not directly but via a meme posted on his social media platform X.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> <a href="https://t.co/RJdF7MWeEi">pic.twitter.com/RJdF7MWeEi</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1813097084595163643?ref_src=twsrc%5Etfw">July 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Traditionally considered a liberal stronghold, Silicon Valley has seen some tech leaders shift politically to the right, driven by dissatisfaction with President Joe Biden&#8217;s policies on regulation and taxes.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photos by Frederic Legrand &#8211; COMEO on Shutterstock

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Musk Could Join Some Silicon Valley Moguls in Funding Trump's Presidential Bid: Report

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said Ferguson plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) is a &#8220;very, very good&#8221; company. However, he recommends Trane Technologies plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TT#NYSE">TT</a>) or Carrier Global Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) &#8216;in case you want HVAC <a href="https://www.benzinga.com/news/earnings/24/06/39161534/fergusons-q3-margins-expand-despite-continued-deflation-details-here">(heating, ventilating, and air conditioning</a>).&#8217;
On June 4, Ferguson reported third-quarter net sales of $7.308 billion. That&#8217;s 2.4% higher year over year, driven by volume improvement despite continued deflation of approximately 2%.
KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) is the &#8220;foremost, the other one that I would recommend is Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>),&#8221; Cramer said.
On July 8, TD Cowen analyst Bill Katz maintained KKR with a Buy and lowered the price target from $157 to $145.
The &#8220;Mad Money&#8221; host said he will pay no amount for Petróleo Brasileiro S.A. &#8211; Petrobras (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBR#NYSE">PBR</a>).
On June 27, B of A Securities analyst Caio Ribeiro upgraded Petrobras Brasileiro from Neutral to Buy and raised the price target from $16.8 to $17.9.
Alliance Resource Partners, L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) has had a very big run, he said. &#8220;I know the yield looks great — I think you're peaking on a coal cycle here, I'm not going to get in front of a peak of a coal cycle.&#8221;
On May 29, Alliance Resource Partners announced the pricing of $400 million private offering of senior notes.
Cramer recommended to hold Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) here.
Alibaba Group and SenseTime highlighted significant progress in artificial intelligence at the World Artificial Intelligence Conference (WAIC) in Shanghai, signaling intense <a href="https://www.benzinga.com/news/24/07/39663974/chinas-ai-leaders-alibaba-and-sensetime-showcase-breakthroughs-at-shanghai-conference">competition in China's AI market</a>.
Price Action:
<ul>
<li>KKR shares fell 2% to settle at $105.07 on Monday.</li>
<li>Ferguson shares fell 0.1% to close at $190.66 during Monday's session.</li>
<li>Petroleo Brasileiro shares gained 2.7% to close at $15.13.</li>
<li>Alliance Resource Partners shares fell 2.4% to close at $24.67 on Monday.</li>
<li>Alibaba shares fell 1.4% to close at $73.50 on Monday.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39665755/wall-streets-most-accurate-analysts-say-buy-these-3-utilities-stocks-delivering-high-div">Wall Street&#8217;s Most Accurate Analysts Say Buy These 3 Utilities Stocks Delivering High-Dividend Yields</a></li>
</ul>

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Jim Cramer Says He Will Pay No Amount For This Energy Stock, Calls Ferguson A 'Very, Very Good' Company

Shares of oil and gas companies are trading higher as traders anticipate an increase in demand during the summer. Also, strength may be due to better-than-expected Chinese manufacturing activity data.

TECK

Shares of coal companies are trading lower after the EU reportedly approved compensation for LEAG's coal exit.

Benchmark analyst Nathan Martin reiterates Alliance Res Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) with a Buy and maintains $25 price target.

Reiteration

Benchmark Reiterates Buy on Alliance Res Partners, Maintains $25 Price Target

Alliance Resource Partners shares are trading higher after the company reported better-than-expected Q1 financial results and reiterated FY24 guidance.

Alliance Resource Partners Reiterates Full-year Guidance With Operations Running As Expected Year-To-Date And Well-Contracted Order Book

Alliance Res Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) reported quarterly earnings of $1.21 per share which beat the analyst consensus estimate of $1.02 by 18.63 percent. This is a 16.55 percent decrease over earnings of $1.45 per share from the same period last year. The company reported quarterly sales of $651.697 million which beat the analyst consensus estimate of $620.061 million by 5.10 percent. This is a 1.69 percent decrease over sales of $662.922 million the same period last year.

Earnings Beats

Alliance Res Partners Q1 2024 GAAP EPS $1.21 Beats $1.02 Estimate, Sales $651.697M Beat $620.061M Estimate

Alliance Resource Partners LP&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) shares are trading lower after the company reported worse-than-expected fourth-quarter earnings&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/01/b36821488/alliance-resource-partners-l-p-reports-record-full-year-2023-revenue-and-net-income-declares-quart" rel="noreferrer noopener">per unit and sales results.</a>
Revenue declined 11.2% Y/Y to $625.4 million,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/01/b36821488/alliance-resource-partners-l-p-reports-record-full-year-2023-revenue-and-net-income-declares-quart" rel="noreferrer noopener">missing the consensus of $661.9 million</a>.
Revenue declined Y/Y due to lower coal and oil &amp; 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 <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">below the consensus of $1.14</a>. 
As of December 31, 2023, the company had a total liquidity of $492.1 million, including $59.8 million of cash and cash equivalents.
The company completed $24.8 million in oil &amp; gas mineral interest acquisitions in the quarter, resulting in record BOE volumes.
FY24 <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">Guidance</a>: The company expects coal sales volumes of 34.0 &#8211; 35.8 Million short tons.
Joseph W. Craft III, Chairman, President and Chief Executive Officer, said, &#8220;We are entering 2024 with over 90% of our coal sales volumes committed and priced at similar levels relative to 2023. We are expecting our production to be more consistent in 2024, believing we have moved beyond the several negative geological areas that we faced in 2023.&#8221;
&#8220;We expect to complete the major infrastructure projects at Tunnel Ridge, Hamilton, Warrior and the River View complex in 2024. ARLP will start to recognize the benefits from these strategic investments in 2025 as total capital expenditures will be significantly lower and these mines will be more productive, ensuring we maintain our position as one of the most reliable, low-cost producers in the eastern United States over the next decade.&#8221;&nbsp;
&#8220;We are forecasting domestic natural gas prices to rise in 2025 as new LNG terminal capacity comes online, driving an increase in natural gas exports, benefitting both our Coal and Royalties segments.&#8221;
Distributions: In January 2024, the company reported quarterly cash distribution of $0.70 per unit, or $2.80 per unit annualized, payable on February 14, 2024, to all unitholders of&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/01/b36809743/alliance-resource-partners-l-p-declares-quarterly-distribution-of-0-70-per-unit" rel="noreferrer noopener">record as of February 7, 2024</a>.
Price Action: ARLP shares are down 4.98% at $20.68 on the last check Monday.

Dividends

Why Energy Company Alliance Resource Partners Shares Are Falling Today

Alliance Resource Partners shares are trading lower after the company reported worse-than-expected Q4 earnings per unit and sales results.

&quot;As we look to 2024, our coal sales book is expected to be equally as strong as last year and be the anchor to deliver another record year of revenues,&quot; commented Mr. Craft. &quot;Our dependability and the reliability of our coal quality is highly valued by our customers, evidenced by the premium pricing we have received, relative to the spot market, on recent commitments with domestic customers for multi-year contracts. We are entering 2024 with over&nbsp;90%&nbsp;of our coal sales volumes committed and priced at similar levels relative to 2023. We are expecting our production to be more consistent in 2024, believing we have moved beyond the several negative geological areas that we faced in 2023.&quot;

Alliance Res Partners Expects FY24 Sales Volumes In Coal Operations Of 34.0M — 35.8M Short Tons

Alliance Res Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) reported quarterly earnings of $0.88 per share which missed the analyst consensus estimate of $1.14 by 22.81 percent. This is a 46.01 percent decrease over earnings of $1.63 per share from the same period last year. The company reported quarterly sales of $625.40 million which missed the analyst consensus estimate of $661.88 million by 5.51 percent. This is a 11.19 percent decrease over sales of $704.20 million the same period last year.

Alliance Res Partners Q4 Earnings Per Unit $0.88 Misses $1.14 Estimate, Sales $625.40M Miss $661.88M Estimate

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Alliance Res Partners (NASDAQ:<a href="https://investorplace.com/stock-quotes/arlp-stock-quote/">ARLP</a>) just reported results for the second quarter of 2024.<ul><li>Alliance Res Partners reported earnings per share of 77 cents. This was below the analyst estimate for EPS of 93 cents.</li><li>The company reported revenue of $593.35 million.</li><li>This was 6.17% worse than the analyst estimate for revenue of $632.34 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/07/arlp-stock-earnings-alliance-res-partners-for-q2-of-2024/">ARLP Stock Earnings: Alliance Res Partners Misses EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

ARLP Stock Earnings: Alliance Res Partners Misses EPS, Misses Revenue for Q2 2024

Alliance Resource Partners, L.P. Common Units (ARLP) Q2 2024 Earnings Call Transcript

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Income investors looking for high yields should take a closer look at <a href="https://www.investopedia.com/terms/m/mlp.asp#:~:text=A%20master%20limited%20partnership%20(MLP)%20is%20a%20company%20organized%20as,are%20investors%20in%20the%20MLP.">master limited partnerships</a> (MLPs). These publicly traded&nbsp;limited partnerships benefit from the liquidity of publicly traded companies while enjoying tax benefits of a private partnership.



It is common to find MLPs with high yields above 5%, which make them an attractive option for those seeking income from their investments. 



This article will discuss three of our top <a href="https://www.suredividend.com/highest-yielding-mlps-now/">high yield MLPs</a> that we believe will continue to pay high yields to investors.



<h2>Sunoco LP (SUN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/gasoline_1600-300x169.png" alt="A photo of a row of gasoline pump handles at a pump with the sun shining on them. Gas prices dropping."><div>Source: ThePowerPlant/ShutterStock.com</div></div>Sunoco (NYSE: <a href="https://investorplace.com/stock-quotes/sun-stock-quote/">SUN</a>) is an MLP that distributes a range of fuel products through its wholesale and retail business units. The wholesale unit purchases fuel products from refiners and sells those products to both its own and independently-owned dealers.



In mid-May, the company reported that <a href="https://www.sunocolp.com/press-release/item/sunoco-lp-announces-first-quarter-2024-financial-and-operating-results-2024#:~:text=Financial%20and%20Operational%20Highlights,the%20first%20quarter%20of%202023.">first quarter revenues</a> totaled $5.5 billion, which was 3% more than the revenues Sunoco generated during the same quarter last year. 



Adjusted EBITDA was up 10% year over year, for $242 million during the quarter. Sunoco&rsquo;s distributable cash flows totaled $176 million during the quarter, which was 10% higher compared to Q1 of 2023. This equated to DCF of $2.07 per share, which covered the dividend easily. For 2024, Sunoco is forecasting EBITDA of $1.46 billion to $1.52 billion to account for the acquisition of NuStar Energy.



In Sunoco&rsquo;s industry, the company profits from significant scale and revenue consistency. The company is one of Texas&rsquo;s largest independent fuel distributors, and Sunoco is also among the top distributors of Chevron, Exxon and Valero branded motor fuel in the rest of the U.S. In the fuel wholesale industry, scale is important, as increased scale allows for higher margins and a better negotiating position with suppliers.



Sunoco has made multiple acquisitions to enhance its growth prospects. In 2021, Sunoco acquired eight refined products terminals from NuStar Energy for $250 million. Around the same time, it acquired an additional terminal from Cato. In 2022, Sunoco closed the $190 million acquisition of a processing and terminal facility from Gladieux Partners.



Sunoco&rsquo;s dividend payout ratio has moved in a wide range throughout its existence, as its cash flow has seen steep ups and downs. It has covered its payout by a factor of 1.9x via distributable cash flows during the last four quarters, meaning the distribution is sustainable. SUN currently yields 6.5%.



<h2>Enterprise Products (EPD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/naturalgas1600d-300x169.jpg" alt="Momentum stocks: Natural gas pipeline through green field with blue sky above"><div>Source: Shutterstock</div></div>Enterprise Products (NYSE:<a href="https://investorplace.com/stock-quotes/epd-stock-quote/">EPD</a>) was founded in 1968. It is structured as an MLP and operates as an oil and gas storage and transportation company. Enterprise Products has a tremendous asset base which consists of nearly 50,000 miles of natural gas, natural gas liquids, crude oil and refined products pipelines. It also has storage capacity of more than 250 million barrels. These assets collect fees based on materials transported and stored.



<a href="https://ir.enterpriseproducts.com/news-releases/news-release-details/enterprise-reports-results-second-quarter-2024#:~:text=Enterprise%20reported%20net%20income%20attributable,the%20second%20quarter%20of%202023.">In the second quarter</a>, Enterprise reported net income attributable to common unitholders of $1.4 billion, or $0.64 per unit, up 12% year-over-year. This growth was due primarily to higher volumes. Total equivalent pipeline volumes and marine terminal volumes increased by 5% and 18%, respectively. The NGL Pipeline &amp; Services segment grew operating margin by 19%. Distributable cash flow was $1.8 billion, compared to $1.7 billion in the same quarter last year, and DCF provided 1.6x coverage of the distribution.



Enterprise has positive growth potential moving forward, thanks to new projects and exports. It has several billion dollars&rsquo; worth of major capital projects currently under construction. They expect all of these projects to come online in the coming years, boosting cash flows. Exports are also a key growth catalyst. Demand for liquefied petroleum gas and liquefied natural gas is growing at a high rate across the world, particularly in Asia.



In terms of safety, Enterprise Products is one of the strongest midstream MLPs. It has credit ratings of BBB+ from Standard &amp; Poor&rsquo;s and Baa1 from Moody&rsquo;s, which are higher ratings than most MLPs. It also has a distribution coverage ratio of nearly 2x, leaving room for distribution increases and unit repurchases. Enterprise Products&rsquo; high-quality assets generate strong cash flow, even in recessions.



EPD has increased its dividend for 26 consecutive years and currently yields 7.3%.



<h2>Alliance Resource Partners (ARLP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/11/coal1600b-300x169.jpg" alt="A man holds coal in his hands over a pile of more coal."><div>Source: Shutterstock</div></div>Alliance Resource (NASDAQ:<a href="https://investorplace.com/stock-quotes/arlp-stock-quote/">ARLP</a>) is the first publicly traded master limited partnership and the second-largest coal producer in the eastern U.S. Apart from its primary operations of producing and marketing coal to major domestic and international utility users, the company also owns both mineral and royalty interests in premier oil and gas regions, like the Permian, Anadarko and Williston Basins.



Finally, the company provides terminal services, such as transportation and loading of coal and technology products and services. The company generates ~$2.7 billion in annual revenues and is based in Tulsa, Oklahoma.



According to <a href="https://investor.arlp.com/investors/press-releases/press-releases/2024/CORRECTING-and-REPLACING-Alliance-Resource-Partners-L.P.-Reports-Second-Quarter-Financial-and-Operating-Results-Declares-Quarterly-Cash-Distribution-of-0.70-Per-Unit-and-Updates-2024-Guidance/default.aspx">Q2 results</a> posted in late July, revenues for the quarter declined by 7.6% year-over-year to $593.4 million. Lower revenues were primarily the result of lower coal sales volumes, which declined 11.8% primarily due to transportation delays.



This was partially offset by increased coal sales price realizations, which rose 3.8% to $65.30 per ton sold compared to $62.93 per ton sold last year. Net income came in at $100.2 million, or $0.77 per unit, compared to $169.8 million, or $1.30 per unit last year. Management expects another record-breaking year in terms of revenues, driven by a strong coal sales book that mirrors the success of 2023.



Over 90% of its coal sales volumes are committed at similar price levels to last year, signaling a promising outlook. More specifically, the company expects to sell about 34 tons of coal.



ARLP currently yields 11.3%.



On the date of publication, Bob Ciura&nbsp;did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Bob Ciura has worked at <a href="https://twitter.com/SureDividend">Sure Dividend</a> since 2016. He oversees all content for Sure Dividend and its partner sites. Prior to joining Sure Dividend, Bob was an independent equity analyst. His articles have been published on major financial websites such as The Motley Fool, Seeking Alpha, Business Insider and more. Bob received a bachelor&rsquo;s degree in Finance from DePaul University and an MBA with a concentration in investments from the University of Notre Dame.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/08/looking-for-passive-income-relax-and-check-out-high-yield-mlps/">Looking for Passive Income? Relax and Check Out High Yield MLPs</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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Press Releases

Alliance Resource Partners, L.P. Names Steven Schnitzer Senior Vice President, General Counsel and Secretary

Alliance Resource Partners, L.P. Announces First Quarter 2024 Earnings Conference Call

Alliance Resource Partners, L.P. Declares Quarterly Distribution of $0.70 Per Unit

Alliance Resource Partners, L.P. Reports Solid First Quarter Financial and Operating Results; Declares Quarterly Cash Distribution of $0.70 Per Unit and Reiterates 2024 Guidance

Alliance Resource Partners, L.P. Announces Private Offering of Senior Notes

Alliance Resource Partners, L.P. Announces Pricing of $400 Million Private Offering of Senior Notes

Alliance Resource Partners, L.P. Announces Second Quarter 2024 Earnings Conference Call

Alliance Resource Partners, L.P. Declares Quarterly Distribution of $0.70 Per Unit; Announces Robinson Retirement from Alliance Board, Vining Election to Alliance Board, and Watson promotion to Senior Vice President

Alliance Resource Partners, L.P. Reports Second Quarter Financial and Operating Results; Declares Quarterly Cash Distribution of $0.70 Per Unit and Updates 2024 Guidance

Alliance Resource Partners, L.P. Announces Third Quarter 2024 Earnings Conference Call

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