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Exhibit 99.1
PRESS RELEASE
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CONTACT: Brian L. Cantrell Alliance Resource Partners, L.P. 1717 South Boulder Avenue, Suite 400 Tulsa, Oklahoma 74119 (918) 295-7673 |
FOR IMMEDIATE RELEASE
ALLIANCE RESOURCE PARTNERS, L.P.
Reports Record Annual Operating and Financial Results; Increases Quarterly Unitholder Distribution 2.0% to $0.65 Per Unit; and Provides Guidance for 2015
Increases Total Coal Reserves by 50 Percent through Acquisitions for Rights to Approximately 452.2 Million Tons of Illinois Basin Coal
TULSA, OKLAHOMA, January 28, 2015 Alliance Resource Partners, L.P. (NASDAQ: ARLP) today reported record operating and financial results for the fourteenth consecutive year, as it set new annual benchmarks for coal sales and production volumes, revenues, net income and EBITDA for the year ended December 31, 2014 (the 2014 Year). On the strength of record coal sales volumes and strong pricing, revenues grew to a record $2.3 billion for the 2014 Year, an increase of 4.3% compared to the year ended December 31, 2013 (the 2013 Year). Higher revenues contributed to record EBITDA of $803.7 million for the 2014 Year, an increase of 17.2% compared to the 2013 Year. ARLPs net income for the 2014 Year was also higher, increasing 26.4% to a record $497.2 million, or $4.77 per basic and diluted limited partner unit. (For a discussion of EBITDA and related reconciliations to comparable GAAP financial measures, please see the end of this release.)
For the quarter ended December 31, 2014 (the 2014 Quarter), revenues increased 4.3% to $590.8 million, compared to the quarter ended December 31, 2013 (the 2013 Quarter). Net income and EBITDA were also higher in the 2014 Quarter, as net income increased 24.6% to $123.7 million, or $1.18 per basic and diluted limited partner unit, and EBITDA increased 15.1% to $202.5 million.
ARLP also announced that the Board of Directors of its managing general partner increased the cash distribution to unitholders for the 2014 Quarter to $0.65 per unit (an annualized rate of $2.60 per unit), payable on February 13, 2015 to all unitholders of record as of the close of trading on February 6, 2015. The announced distribution represents an 8.6% increase over the cash distribution of $0.59875 per unit for the 2013 Quarter and a 2.0% increase over the cash distribution of $0.6375 per unit for the 2014 third quarter (the Sequential Quarter). The comparative distributions per unit, as well as net income per basic and diluted limited partner unit, reflected in this press release have been adjusted for the two-for-one unit split completed on June 16, 2014.
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