Exhibit 99.1

 

 

 

 

PRESS RELEASE

 

 

FOR IMMEDIATE RELEASE

CONTACT:

Brian L. Cantrell

Alliance Resource Partners, L.P.

1717 South Boulder Avenue, Suite 400

Tulsa, Oklahoma 74119

(918) 295-7673

 

 

ALLIANCE RESOURCE PARTNERS, L.P.

Reports Quarterly and Annual Financial and Operating Results; Maintains Quarterly Cash Distribution of $0.675 Per Unit

 

TULSA, OKLAHOMA, January 26, 2016 – Alliance Resource Partners, L.P. (NASDAQ: ARLP) today reported financial and operating results for the year ended December 31, 2015 (the

2015 Year), which included record volumes of coal produced and sold.  Revenues for the 2015 Year decreased to $2.27 billion, a decline of 1.2% compared to the year ended December 31, 2014 (the 2014 Year), as a 3.5% decrease in coal sales prices offset record coal sales volumes.  Lower revenues and the net $77.6 million impact in the 2015 Year of non-cash items led to reduced EBITDA of $670.0 million for the 2015 Year, a decrease of 16.7% compared to the 2014 Year.  These factors also drove ARLP’s net income lower by 38.4% in the 2015 Year to $306.2 million, or $2.11 per basic and diluted limited partner unit.  Excluding these non-cash items discussed below in more detail, Adjusted EBITDA for the 2015 Year was $747.2 million and Adjusted net income was $383.8 million, a decrease of 7.0% and 22.8%, respectively, compared to the 2014 Year.  (For a discussion of EBITDA, Adjusted EBITDA, Adjusted net income and related reconciliations to comparable financial measures under accounting principles generally accepted in the United States (“GAAP”), please see the end of this release.)

 

ARLP’s results for the quarter ended December 31, 2015 (the “2015 Quarter”) were also lower compared to the quarter ended December 31, 2014 (the “2014 Quarter”).  Total revenues declined 8.2% to $542.2 million, compared to the 2014 Quarter, as coal sales fell due to lower coal sales prices and reduced sales tons reflecting customer deferrals of scheduled coal shipments and, as anticipated, the decrease of other sales and operating revenues following ARLP’s acquisition of the remaining equity interests in White Oak Resources LLC (White Oak) and the assumption of operating control of the White Oak Mine No. 1 (now known as the Hamilton Mine No. 1) on July 31, 2015 (the White Oak Acquisition).  Lower revenues and the $66.9 million net impact of non-cash items drove net income and EBITDA lower in the 2015 Quarter compared to the 2014 Quarter, as net income decreased 82.6% to $21.5 million, or $(0.19) per basic and diluted limited partner unit, and EBITDA decreased 40.8% to $120.0 million.  Excluding these non-cash items from the 2015 Quarter, ARLP’s Adjusted EBITDA was $186.8 million and Adjusted net income was $88.4 million, a decrease of 7.7% and 28.6%, respectively, compared to the 2014 Quarter.

 

-MORE-

 


The following information was filed by Alliance Resource Partners Lp (ARLP) on Tuesday, January 26, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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