Alliance Resource Partners LP无法满足第1季度结果的期望

Alliance Resource Partners，LP（NASDAQ：ARLP）的总收入为2025年第一季度的总收入为5.405亿美元，比6.517亿美元下降了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）报告了其2025年第一季度的财务和运营业绩，与上一年相比，收入和净收入下降了。该公司将这种业绩归因于降低煤炭销售量和价格，并减少了运输收入。尽管有所下降，但该公司对未来的业绩保持乐观，并在今年剩余时间内更新了指导。

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

Alliance Resource Partners LP无法满足第1季度结果的期望

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.

该公司报告说，该期间的总收入为5.405亿美元，比2024年同期记录的6.517亿美元下降了17.1％。这一数字还没有预期的5.791亿美元。

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.

该季度的净收入为7,400万美元，转化为每个基本和稀释有限合伙人单位0.57美元。这是从2024年第一季度实现的1.581亿美元或每单位1.21美元的大幅下降，并且还错过了调整后。 EPS期望为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，在四分之一的基础上，净收入的提高了5,770万美元，这主要是由于石油和天然气的税收收入较高，增长了18.7％。煤炭运营的每吨成本也有所增加，而折旧费用减少，资产损伤指控影响了上一季度的业绩。

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.

据报道，20025年第1季度的EBITDA调整后的EBITDA为1.599亿美元，而第1季度2024年第1季度为2.384亿美元，但比顺序季度增长了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.

在煤炭业务方面，伊利诺伊州盆地与2024年第1季度相比，售出的吨减少了6.1％，而阿巴拉契亚地区的销售量却更明显地下降了22.7％。两个地区的平均煤炭销售价格也下跌，导致总体收入下降。但是，该公司在这两个地区都设法减少了其细分市场调整后的EBITDA费用，伊利诺伊州盆地的成本提高了，这是由于增加的生产和降低的维护成本。

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Alliance Resource Partners Guidance

联盟资源合作伙伴指导

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.

展望未来，Alliance Resource Partners已为2025年全年提供了最新的指南，预计总煤炭销量在32.75至3475万吨之间。该公司在2025年获得了预计的煤炭销售额的96％以上，预计国内销售将超过3000万吨目标。最近的合同活动和加强国内市场的推动，这是由于天然气价格上涨和电力需求增加所推动的。

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.

尽管对煤炭运营有积极的前景，但该公司对石油和天然气的皇室特征部门保持谨慎，预计原油价格较低会影响收入。此外，该公司计划继续积极寻求高质量的价值机会，同时保持纪律严明的资本分配方法。

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.

首席执行官Joseph W. Craft III表示对公司驾驶不断发展的市场动态的能力有信心，强调了政府最近的政策公告，支持燃煤发电是积极的长期因素。但是，他还指出，贸易政策变化及其对通货膨胀和全球经济活动的潜在影响所带来的不确定性。

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.

结果，该公司专注于维持强大的资产负债表并仔细监控市场发展，以确保财务稳定性和运营效率。