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Alliance Resource reports increased net income of $86.2M in Q2'18 over 2017

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Alliance Resource reports increased net income of $86.2M in Q2'18 over 2017

Alliance Resource Partners LP on July 30 reported net income of $86.2 million in the second quarter, or 64 cents per basic and diluted limited partner unit, compared with $63.2 million in the second quarter of 2017, or 82 cents per basic and diluted limited partner unit.

Higher net income was offset by the impact of increased common units resulting from the acquisition of Alliance Holdings GP LP, completed in May, and related transactions.

The S&P Capital IQ consensus normalized EPS estimate for the first quarter was 66 cents.

Revenue was $516.1 million, compared with $398.7 million in the same quarter a year earlier.

Alliance sold 10.5 million tons of coal during the quarter, compared with 8.5 million tons in the year-ago quarter. The average sales price was $45.38 per ton, compared with $45.15 a year earlier.