Financial Data and Key Metrics Changes - Total revenues increased by 13.8% to $362.4 million compared to the sequential quarter, while net income jumped 77.9% to $44 million or $0.34 per unit, and EBITDA climbed 25.7% to $118.6 million [6] - Compared to the 2020 quarter, total revenues increased by 42%, net income rose by $90.7 million, and EBITDA surged by 145.9% [9] - Free cash flow generated in the quarter was $79.4 million, with $12.7 million returned to unit holders and $59.5 million used to reduce total debt and finance lease obligations [8] Business Segment Data and Key Metrics Changes - Coal sales volumes increased by 14.9% during the quarter, leading coal sales revenues to rise by 13.4% to $326 million compared to the sequential quarter [10][11] - The royalty business segment delivered $22.2 million of segment adjusted EBITDA, a 15.3% increase over the sequential quarter, with oil and gas royalties contributing $15.4 million [12] Market Data and Key Metrics Changes - Power demand in primary U.S. markets surged by 7.5% through the first half of 2021, with coal consumption expected to rebound by 16% for the full year [13][14] - International coal demand is rising due to global economic expansion post-COVID-19, with U.S. thermal coal exports projected to increase to 41-45 million short tons this year [15] Company Strategy and Development Direction - The company is increasing its full year 2021 guidance for coal sales volumes by approximately 6% to 32.9 million tons due to favorable coal market fundamentals [13] - The company is actively evaluating opportunities to increase production and sales in response to strong coal demand and pricing through 2022 [16] Management's Comments on Operating Environment and Future Outlook - Management noted that the current tight labor market may limit production increases despite strong demand [16] - The company is optimistic about the contribution of its royalty segment to consolidated results, expecting continued growth in oil and gas production [17] Other Important Information - The company ended the quarter with liquidity of $500.5 million and reduced total leverage to 1.08 times, a 32.1% improvement since the beginning of the year [8] Q&A Session Summary Question: Inquiry about incremental pricing and commitments - Management indicated that some pricing was secured before the recent price increase, but they have factored this into their guidance, raising the average sales price by approximately $0.50 a ton [20] Question: Discussion on pricing trends in the market - Management confirmed that they are seeing strong pricing levels and do not anticipate a decrease in prices due to tight supply in the domestic market [24] Question: Potential priorities for free cash flow - Management stated that uncertainty in future prices makes it difficult to specify cash flow capital allocations at this time, but they will provide clarity in future calls [26] Question: Comments on cost pressures and guidance - Management acknowledged inflationary pressures from steel, oil, and labor, but noted that increased production is coming from lower-cost mines [28] Question: Discussion on leverage and capital allocation - Management emphasized a focus on growth opportunities while maintaining a target leverage level of one time [35] Question: Inquiry about labor relations and union activity - Management clarified that they are a non-union operator and are focused on maintaining good relationships with employees amid a tight labor market [38] Question: Discussion on the royalty portfolio and its value - Management highlighted that the standalone value of their oil and gas royalty segment is not fully reflected in current valuations, with potential for increased activity as commodity prices improve [42]

Financial Performance - Net income attributable to Alliance Resource Partners, L.P. for Q1 2021 was $24.7 million, a significant increase of $169.5 million compared to a net loss of $144.8 million in Q1 2020[108]. - Total revenues for Q1 2021 decreased to $318.6 million, down 9.2% from $350.8 million in Q1 2020, primarily due to reduced coal sales volumes and price realizations[109]. - Segment Adjusted EBITDA decreased by $1.9 million, or 1.7%, to $109.8 million in the 2021 Quarter compared to $111.7 million in the 2020 Quarter[123]. - Consolidated Segment Adjusted EBITDA for Q1 2021 was $109.8 million, a decrease of 1.6% from $111.7 million in Q1 2020[133]. - Cash provided by operating activities decreased to $54.6 million in Q1 2021 from $78.7 million in Q1 2020, primarily due to unfavorable working capital changes[139]. Coal Sales and Operations - Coal sales decreased by $27.1 million or 8.6% to $287.5 million in Q1 2021, with tons sold declining to 6.8 million from 7.3 million in Q1 2020[113]. - Average coal sales price realizations fell by 3.0% to $42.10 per ton in Q1 2021, compared to $43.39 per ton in Q1 2020[113]. - Illinois Basin Coal Operations Segment Adjusted EBITDA increased by 33.1% to $57.7 million in the 2021 Quarter, despite an 8.3% decrease in coal sales to $182.6 million[128]. - Appalachia Coal Operations Segment Adjusted EBITDA decreased by 33.4% to $31.5 million in the 2021 Quarter, with coal sales down 9.3% to $104.8 million[128]. - Total coal sales decreased by 8.6% to $287.5 million in the 2021 Quarter from $314.6 million in the 2020 Quarter[123]. Expenses and Cost Management - Segment Adjusted EBITDA Expense for coal operations decreased by 15.7% to $202.9 million in Q1 2021, with a per ton expense of $29.72, down from $33.20 in Q1 2020[114]. - Labor and benefit expenses per ton produced decreased by 13.2% to $9.43 in Q1 2021, reflecting ongoing efficiency initiatives[114]. - Maintenance expenses per ton produced decreased by 29.9% to $2.56 in Q1 2021, primarily due to reduced maintenance costs at longwall mining operations[116]. - Depreciation, depletion, and amortization expense decreased to $59.2 million in Q1 2021 from $73.9 million in Q1 2020, attributed to reduced sales volumes[119]. - Segment Adjusted EBITDA Expense decreased by 15.8% to $197.7 million in the 2021 Quarter from $234.7 million in the 2020 Quarter[123]. Capital and Liquidity - Capital expenditures decreased to $31.4 million in Q1 2021 from $50.4 million in Q1 2020[141]. - Total capital expenditures for 2021 are estimated to be in the range of $120.0 million to $125.0 million[142]. - The company had $34.4 million in cash and cash equivalents as of March 31, 2021[142]. - The revolving credit facility was $537.75 million, reducing to $459.5 million on May 23, 2021, with $461.0 million available for borrowing[145]. - The debt to cash flow ratio was 1.43 to 1.0 for the trailing twelve months ended March 31, 2021, remaining in compliance with the covenants of the Credit Agreement[147]. Shareholder Returns and Distributions - The company has repurchased a total of $93.5 million of common units under its unit repurchase program since inception[138]. - Quarterly distributions to unitholders will resume in May 2021 after being suspended in May 2020[140]. Market and Risk Factors - The company has significant long-term coal sales contracts, which are subject to price adjustment provisions based on specified indices or production costs[161]. - The company has exposure to coal and oil & gas sales prices, with risks associated with declining prices impacting royalty revenues[161]. - Credit risk is primarily with domestic electric power generators and reputable global brokerage firms, with measures in place to evaluate and monitor customer creditworthiness[163]. - Almost all transactions are denominated in U.S. dollars, minimizing exposure to currency exchange-rate risks, but foreign competitors may gain advantages from currency fluctuations[164][165]. - The company has not utilized commodity price-hedges or derivatives related to sales price or supply cost risks but may consider doing so in the future[162].

Alliance Resource Partners, L.P. (NASDAQ:ARLP) Q1 2021 Earnings Conference Call April 26, 2021 10:00 AM ET Company Participants Brian Cantrell - Senior VP and Chief Financial Officer Joe Craft - Chairman, President and Chief Executive Officer Conference Call Participants Nathan Martin - Seaport Global Lucas Pipes - B. Riley Matthew Fields - Bank of America Scott Ferguson - Pacific Value Operator Good day, and welcome to the Alliance Resource Partners L.P. First Quarter 2021 Earnings Conference Call. All par ...

Alliance Resource Partners, L.P. (NASDAQ:ARLP) Q4 2020 Results Conference Call February 1, 2021 10:00 AM ET Company Participants Joe Craft - Chairman, President and CEO Brian Cantrell - SVP and CFO Conference Call Participants Lin Shen - Hite Lucas Pipes - B. Riley Securities Shelly McNulty - Loomis Sayles Operator Good day, and welcome to the Alliance Resource Partners Fourth Quarter 2020 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's present ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________to________________ Commission File No.: 0-26823 ALLIANCE RESOURCE PARTNERS, L.P. (Exact name of registrant as specified in its char ...

Financial Data and Key Metrics Changes - Total revenues increased by 39.4% to $355.7 million compared to the sequential quarter [6] - Net income attributable to the company climbed 158.3% to $27.2 million [6] - EBITDA jumped 146.4% to $118.8 million [6] - Free cash flow improved by 79% to $103 million for the quarter [6] - Liquidity expanded by 41.4% to $422.2 million, and total debt was reduced by $100.8 million [7] Business Segment Data and Key Metrics Changes - Coal sales and production volumes increased by 48.5% and 66.6%, respectively, compared to the sequential quarter [7] - Coal sales revenue rose by 42.1% to $335.8 million, with segment adjusted EBITDA increasing by 124.4% to $123.8 million [7] - Segment adjusted EBITDA expense per ton decreased by 22% to $28.03 per ton [8] - Oil and gas production on mineral acreage increased by 13.9% to 468,000 barrels of oil equivalent, with total revenues from oil and gas royalties and lease bonuses up by 23.9% to $9.7 million [9] Market Data and Key Metrics Changes - Overall power demand in the Eastern United States increased by 23% over the sequential quarter [10] - Coal-fired generation rebounded by 71% compared to the second quarter [11] - Oil and gas commodity prices rebounded during the quarter, leading to increased production and drilling activity [11] Company Strategy and Development Direction - The company aims to maximize cash flow from strategically located oil and gas minerals and low-cost coal operations [14] - There is a focus on maintaining a strong balance sheet while considering future growth opportunities [25] - The company anticipates a 10% increase in coal sales volume in 2021 compared to 2020 levels [13] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding economic recovery and its impact on coal demand [10][12] - The company expects continued improvement in the mineral segment due to rising commodity prices and increased activity from E&P companies [13] - Management highlighted the importance of maintaining flexibility in operations and cost control amid uncertainties related to the pandemic and economic conditions [25] Other Important Information - The company decided to suspend distributions for the fourth quarter due to uncertainty in cash flow predictability [24] - Management emphasized the need for stability in the operating environment before making further capital allocation decisions [25] Q&A Session All Questions and Answers Question: Near-term cost performance expectations for Q4 - Management indicated that some sales volume would come from inventory and that costs might trend up slightly but remain predictable [16][17] Question: Pricing for 2021 coal contracts - Management stated that the pricing for 20 million tons is slightly over $41 per ton, with expectations for higher natural gas prices potentially increasing demand [19] Question: Capital allocation priorities - Management confirmed that the focus remains on debt reduction and maximizing cash flow, with future distributions contingent on improved cash flow predictability [24][25] Question: Changes in customer commitments and contracts - Management noted that there are few carryover contracts from 2020, with about 8.5 million tons committed in 2022 and some volumes extending into 2024 [49] Question: Impact of competitors' financial situations on RFPs - Management acknowledged that their strong balance sheet provides a competitive advantage in solicitations [56]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________to________________ Commission File No.: 0-26823 ALLIANCE RESOURCE PARTNERS, L.P. (Exact name of registrant as specified in its charter) ...

Alliance Resource Partners, L.P. (NASDAQ:ARLP) Q1 2020 Results Conference Call May 8, 2020 10:00 AM ET Company Participants Brian Cantrell - SVP and CFO Joe Craft - Chairman, President and CEO Conference Call Participants Mark Levin - Seaport Global Lucas Pipes - B. Riley FBR Nick Jarmoszuk - Stifel Shelly McNulty - Loomis Sayles Eric Fredback - Pacific Value Operator Good morning and welcome to Alliance Resource Partners, L.P. First Quarter 2020 Earnings Conference Call. All participants will be in listen- ...

Financial Performance - The company reported a net loss of $144.8 million for the 2020 Quarter, a decrease of $421.2 million compared to a net income of $276.4 million for the same period in 2019[119]. - Total revenues for the 2020 Quarter were $350.8 million, down from $526.6 million in the 2019 Quarter, primarily due to lower coal sales volumes and prices[119]. - Segment Adjusted EBITDA decreased by $94.9 million, or 45.9%, to $111.7 million in the 2020 Quarter from $206.6 million in the 2019 Quarter[136]. - Consolidated Segment Adjusted EBITDA decreased to $111.7 million in Q1 2020 from $206.6 million in Q1 2019[144]. - Cash provided by operating activities was $78.7 million for Q1 2020, down from $143.7 million in Q1 2019, primarily due to decreased net income and unfavorable working capital changes[152]. Coal Sales and Production - Coal sales decreased by $161.4 million or 33.9% to $314.6 million in the 2020 Quarter, with sales volumes declining 29.7% to 7.3 million tons[121]. - Coal production declined by 3.3 million tons, or 29.2%, to 8.0 million tons in the 2020 Quarter compared to 11.3 million tons in the 2019 Quarter[125]. - Total coal sales decreased by $161.4 million, or 33.9%, to $314.6 million in the 2020 Quarter from $476.0 million in the 2019 Quarter[136]. - The average coal sales price realization fell by 5.9% to $43.39 per ton sold in the 2020 Quarter, compared to $46.12 per ton sold in the 2019 Quarter[121]. Revenue Sources - Oil and gas royalty revenues increased to $14.2 million in the 2020 Quarter from $10.4 million in the 2019 Quarter, driven by increased volumes from the Wing Acquisition[124]. - Other revenues increased to $17.1 million in the 2020 Quarter from $10.0 million in the 2019 Quarter, a rise of $7.1 million[127]. - Transportation revenues decreased by $25.5 million to $4.7 million in the 2020 Quarter from $30.2 million in the 2019 Quarter[133]. Cost Management - The company is taking initiatives to reduce costs and expenses in response to lower revenues from coal sales and depressed commodity prices in the minerals segment[116]. - Labor and benefit expenses per ton produced increased by 21.7% to $10.87 per ton in the 2020 Quarter from $8.93 per ton in the 2019 Quarter[125]. - General and administrative expenses decreased to $13.4 million in the 2020 Quarter from $17.8 million in the 2019 Quarter, a reduction of $4.4 million[128]. - Segment Adjusted EBITDA Expense decreased by $68.2 million, or 22.5%, to $234.7 million in the 2020 Quarter from $302.9 million in the 2019 Quarter[136]. Capital Expenditures and Financing - The company anticipates total capital expenditures for 2020 to be in the range of $130.0 million to $135.0 million[116]. - Capital expenditures decreased to $50.4 million in Q1 2020 from $84.0 million in Q1 2019[156]. - The company entered into a $537.75 million revolving credit facility to strengthen liquidity, which will reduce to $459.5 million on May 23, 2021[118]. - The company issued $400.0 million of senior unsecured notes due 2025 with an annual interest rate of 7.5%[163]. Market Conditions and Risks - The board of directors suspended cash distributions to unitholders for the first and second quarters of 2020 due to market conditions[117]. - The company anticipates potential impacts from the COVID-19 pandemic on operations and cash flows, reflecting a wide range of uncertainties and business risks[185]. - The company is facing a decline in the coal industry's share of electricity generation due to environmental concerns and competition from other energy sources[185]. - Changes in coal and oil & gas prices could significantly affect operating results and cash flows, with potential impacts from actions taken by Saudi Arabia and Russia[185]. - The company is exposed to risks associated with major mine-related accidents and operational interruptions due to various factors, including geological and weather-related issues[187]. Employee and Operational Challenges - Labor costs, including health insurance and taxes, are expected to increase, impacting overall operational expenses[186]. - The company is facing challenges in maintaining satisfactory relations with employees and managing labor costs[186]. - Transportation costs and risks of delays or interruptions are anticipated to increase, affecting logistics and supply chain[186]. - Evolving cybersecurity risks pose a threat to the company's operations and data security[187]. Impairments and Adjustments - Non-cash goodwill impairment charge of $132.0 million was recorded in the 2020 Quarter due to reduced expected production volumes[131]. - Equity securities income decreased by $12.9 million in the 2020 Quarter as no income was recognized due to the redemption of preferred interest in the previous year[132]. - Illinois Basin Segment Adjusted EBITDA decreased 59.2% to $50.0 million in Q1 2020 from $122.7 million in Q1 2019, primarily due to a 37.2% decrease in coal sales to $199.1 million[139]. - Appalachia Segment Adjusted EBITDA decreased 19.0% to $47.5 million in Q1 2020 from $58.7 million in Q1 2019, with coal sales down 26.6% to $115.5 million[139]. - Minerals Segment Adjusted EBITDA increased 51.6% to $13.8 million in Q1 2020 from $9.1 million in Q1 2019, driven by a 37.0% increase in oil & gas royalty revenues to $14.2 million[139].