Alliance Resource Partners LP無法滿足第1季度結果的期望

Alliance Resource Partners，LP（NASDAQ：ARLP）的總收入為2025年第一季度的總收入為5.405億美元，比6.517億美元下降了17.1％

Alliance Resource Partners, L.P. (NASDAQ:ARLP) reported its financial and operational results for the first quarter of 2025, highlighting a decrease in revenue and net income compared to the previous year. The company attributed this performance to lower coal sales volumes and prices, as well as reduced transportation revenues. Despite the decline, the company remains optimistic about future performance and has updated its guidance for the remainder of the year.

Alliance Resource Partners，LP（NASDAQ：ARLP）報告了其2025年第一季度的財務和運營業績，與上一年相比，收入和淨收入下降了。該公司將這種業績歸因於降低煤炭銷售量和價格，並減少了運輸收入。儘管有所下降，但該公司對未來的業績保持樂觀，並在今年剩餘時間內更新了指導。

Alliance Resource Partners L.P. Fails to Meet Expectations with Q1 Results

Alliance Resource Partners LP無法滿足第1季度結果的期望

The company reported a total revenue of $540.5 million for the period, marking a 17.1% decline from the $651.7 million recorded in the same period in 2024. This figure also fell short of the expected $579.91 million.

該公司報告說，該期間的總收入為5.405億美元，比2024年同期記錄的6.517億美元下降了17.1％。這一數字還沒有預期的5.791億美元。

Net income for the quarter stood at $74.0 million, translating to $0.57 per basic and diluted limited partner unit. This represents a significant drop from the $158.1 million, or $1.21 per unit, achieved in the first quarter of 2024, and also missed the adjusted. EPS expectation of $0.61.

該季度的淨收入為7,400萬美元，轉化為每個基本和稀釋有限合夥人單位0.57美元。這是從2024年第一季度實現的1.581億美元或每單位1.21美元的大幅下降，並且還錯過了調整後。 EPS期望為0.61美元。

However, on a quarter-over-quarter basis, net income saw an improvement of $57.7 million, largely due to higher oil and gas royalty revenues, which increased by 18.7%. There was also an increase in per ton costs at coal operations, while depreciation expenses decreased, and an asset impairment charge that had affected the previous quarter’s results.

但是，在四分之一的基礎上，淨收入的提高了5,770萬美元，這主要是由於石油和天然氣的稅收收入較高，增長了18.7％。煤炭運營的每噸成本也有所增加，而折舊費用減少，資產損傷指控影響了上一季度的業績。

Adjusted EBITDA for Q1 2025 was reported at $159.9 million, compared to $238.4 million in Q1 2024, but it represented a 29.0% increase from the sequential quarter.

據報導，20025年第1季度的EBITDA調整後的EBITDA為1.599億美元，而第1季度2024年第1季度為2.384億美元，但比順序季度增長了29.0％。

In terms of coal operations, the Illinois Basin saw a 6.1% decrease in tons sold compared to Q1 2024, while the Appalachia region experienced a more pronounced decline of 22.7%. The average coal sales price per ton also fell in both regions, contributing to the overall revenue decrease. However, the company managed to reduce its Segment Adjusted EBITDA Expense per ton in both regions, with significant cost improvements noted in the Illinois Basin, driven by increased production and lower maintenance costs.

在煤炭業務方面，伊利諾伊州盆地與2024年第1季度相比，售出的噸減少了6.1％，而阿巴拉契亞地區的銷售量卻更明顯地下降了22.7％。兩個地區的平均煤炭銷售價格也下跌，導致總體收入下降。但是，該公司在這兩個地區都設法減少了其細分市場調整後的EBITDA費用，伊利諾伊州盆地的成本提高了，這是由於增加的生產和降低的維護成本。

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Alliance Resource Partners Guidance

聯盟資源合作夥伴指導

Looking ahead, Alliance Resource Partners has provided updated guidance for the full year 2025, anticipating total coal sales volumes to range between 32.75 and 34.75 million short tons. The company has secured over 96% of its projected coal sales volumes for 2025, with domestic sales expected to surpass the 30 million ton target. This optimism is fueled by recent contracting activities and the strengthening domestic market, driven by higher natural gas prices and increased electricity demand.

展望未來，Alliance Resource Partners已為2025年全年提供了最新的指南，預計總煤炭銷量在32.75至3475萬噸之間。該公司在2025年獲得了預計的煤炭銷售額的96％以上，預計國內銷售將超過3000萬噸目標。最近的合同活動和加強國內市場的推動，這是由於天然氣價格上漲和電力需求增加所推動的。

Despite the positive outlook for coal operations, the company remains cautious about the oil and gas royalty segment, where lower crude oil prices are expected to impact revenues. Additionally, the company plans to remain active in seeking high-quality, value-accretive opportunities while maintaining a disciplined approach to capital allocation.

儘管對煤炭運營有積極的前景，但該公司對石油和天然氣的皇室特徵部門保持謹慎，預計原油價格較低會影響收入。此外，該公司計劃繼續積極尋求高質量的價值機會，同時保持紀律嚴明的資本分配方法。

CEO Joseph W. Craft III expressed confidence in the company’s ability to navigate the evolving market dynamics, highlighting the administration’s recent policy announcements supporting coal-fired generation as a positive long-term factor. However, he also noted the uncertainty introduced by trade policy changes and their potential impact on inflation and global economic activity.

首席執行官Joseph W. Craft III表示對公司駕駛不斷發展的市場動態的能力有信心，強調了政府最近的政策公告，支持燃煤發電是積極的長期因素。但是，他還指出，貿易政策變化及其對通貨膨脹和全球經濟活動的潛在影響所帶來的不確定性。

As a result, the company is focused on maintaining a strong balance sheet and carefully monitoring market developments to ensure financial stability and operational efficiency.

結果，該公司專注於維持強大的資產負債表並仔細監控市場發展，以確保財務穩定性和運營效率。