Abstract Aerial ArtEarly March this year, I issued a bullish thesis on Alliance Resource Partners, L.P. (NASDAQ:ARLP), which is the largest coal producer in the eastern U.S. It is also worth noting that ARLP's business is not only about coal, but also increasingly about revenue generation from mineral and royalty interests in strategic oil & gas basins (albeit this share is relatively minor as of now). My investment case boiled down to the underlying value and its cheapness in the context of the balance ...

Financial Data and Key Metrics Changes - Consolidated revenue for Q1 2024 was $651.7 million, down 1.7% from $662.9 million in the same period last year, but up 4.2% sequentially [10] - Net income attributable to Alliance Resource Partners was $158.1 million, or $1.21 per unit, compared to $191.2 million, or $1.45 per unit in the prior year [12] - EBITDA for Q1 2024 was $235 million, down from $270.9 million year-over-year, but up 26.8% sequentially [12] Business Line Data and Key Metrics Changes - Coal sales volumes increased by 2.4% to 8.7 million tons, while coal production decreased by 1.4% to 9.1 million tons compared to the previous year [8] - Royalty volumes for oil and gas minerals reached a record 898,000 barrels of oil equivalent, an 18.3% increase year-over-year [9] - Average coal sales price per ton sold decreased by 5.2% year-over-year, despite a 5.8% increase in the Illinois basin [9] Market Data and Key Metrics Changes - In the Illinois basin, sales volumes increased by 4%, while in Appalachia, they decreased by 1.8% [9] - Average realized sales prices for oil and gas were down 9.3% per barrel of oil equivalent compared to the previous year [9] - The company expects most sales activity for unsold coal in 2024 to occur in the latter half of the year, primarily in export markets [16] Company Strategy and Development Direction - The company plans to complete major infrastructure projects at several mines, which are expected to enhance productivity and extend mine life [28] - The focus remains on growing the oil and gas royalties business, which has shown record volumes and cash flow potential [29] - The company is exploring opportunities in the data center sector due to increasing electricity demand driven by AI and electric vehicles [19][75] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the coal sales book for 2024, with over 90% of coal sales volumes already committed [18] - The company anticipates that low natural gas prices will continue to suppress domestic coal demand but expects strong export market demand [19] - Management highlighted the critical need for reliable electricity supply amid increasing demand from data centers and industrial loads [20][27] Other Important Information - The company reported a $15.3 million accrual related to litigation, which was not included in adjusted EBITDA figures [11] - The partnership's digital assets increased in fair value by $11.9 million during the quarter [11] - The company has mined Bitcoin valued at approximately $30 million at the end of Q1 2024, with plans to continue mining and selling to cover operating costs [12][66] Q&A Session Summary Question: What is driving the shift in domestic commitments and increased exports? - Management noted that low natural gas prices are pressuring the market, but they expect contracted tons to be delivered as projected [34] Question: What are the pricing expectations for 2025 contracts? - Contracts entered into were priced higher than current spot market prices, indicating customer recognition of future natural gas demand growth [37] Question: Is the company experiencing any impacts from the Baltimore Port outage? - Management confirmed no material impact from the Baltimore Port outage, as most shipments do not go through that port [39] Question: Can you provide insights on Bitcoin mining activities? - The company is mining Bitcoin using excess power and selling it to cover operating costs, with a current holding of 425 Bitcoin valued at about $30 million [45][66] Question: How is the oil and gas business expected to evolve? - The focus remains on the liquids side of the oil and gas sector, with no immediate changes in strategy anticipated [48]

Core Insights - Alliance Resource Partners, L.P. (ARLP) reported first-quarter 2024 operating earnings per unit (EPU) of $1.21, exceeding the Zacks Consensus Estimate of $1.01 by 19.8%, but down 16.6% from $1.45 in the same quarter last year [1] - Total revenues reached $651.7 million, surpassing the Zacks Consensus Estimate of $625 million by 4.3%, but decreased 1.7% from $662.9 million year-over-year [2] Financial Performance - Total operating expenses were $491.4 million, an increase of 7.8% year-over-year, with operating expenses (excluding depreciation, depletion, and amortization) at $363.9 million, up 7.4% [3] - Income from operations was $160.3 million, down 22.7% from the prior-year quarter [3] - Interest expense decreased to $7.7 million from $12.7 million in the prior-year period [3] Cash Flow and Debt - Cash and cash equivalents stood at $133.9 million as of March 31, 2024, compared to $59.8 million as of December 31, 2023 [4] - Long-term debt increased to $354.6 million as of March 31, 2024, from $316.8 million as of December 31, 2023 [4] - Cash provided by operating activities for the first three months of 2024 totaled $209.7 million, down from $221.7 million in the year-ago period [4] Guidance - Alliance Resource expects total sales for 2024 to be between 34-35.8 million short tons, with coal sales prices projected to be in the range of $61.75-$63.75 per ton [5] - Total capital expenditures for 2024 are anticipated to be between $450-$500 million, with net interest expense projected at $20-$25 million [5] Market Position - Alliance Resource currently holds a Zacks Rank 4 (Sell) [6]

PRESS RELEASE Exhibit 99.1 FOR IMMEDIATE RELEASE ALLIANCE RESOURCE PARTNERS, L.P. Reports Solid First Quarter Financial and Operating Results; Declares Quarterly Cash Distribution of $0.70 Per Unit and Reiterates 2024 Guidance Highlights ● Increased coal sales volumes to 8.7 million tons, up 2.4% year-over-year ● Record oil & gas royalty volumes of 898 MBOE, up 18.3% year-over-year and 11.0% sequentially ● First quarter 2024 total revenue of $651.7 million, net income of $158.1 million, and EBITDA of $235.0 ...

​Today we dive deeper than the headlines ​to uncover overlooked stocks​. In the ​artificial intelligence (AI​) market of ​2024, tech giants dominated the first quarter. Yet, savvy investors are ​n​ow looking for undervalued companies with breakout potential. The S&P 500 and Nasdaq 100 ​have seen respectable gains of​ over​ 7%​ year to date (YTD). However, a number of prominent growth stocks are showing signs of cooling off. Thus, the decline in their stock prices could be a prime opportunity for a market ro ...

Alliance Resource Partners, L.P. (ARLP) closed the latest trading day at $19.76, indicating a +0.56% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.65%. Elsewhere, the Dow saw a downswing of 0.49%, while the tech-heavy Nasdaq depreciated by 0.96%.Coming into today, shares of the company had gained 0.26% in the past month. In that same time, the Oils-Energy sector gained 6.72%, while the S&P 500 gained 3.27%.The investment community will be closely monitoring the per ...

Wall Street offers investors a multitude of pathways to grow their wealth. Among these countless strategies, few have delivered more robust long-term returns than buying and holding dividend stocks.Last year, researchers at Hartford Funds released a lengthy report that examined the power and potential that dividend stocks bring to the table for long-term-minded investors. In particular, a collaboration with Ned Davis Research revealed a stark disparity in average annual returns between non-payers and compan ...

Schroptschop Alliance Resource Partners, L.P. (NASDAQ:ARLP) is a master limited partnership operating primarily in the coal space. It has seven underground coal mining complexes, which position ARLP as the largest coal producer in the eastern U.S. There is also a component of mineral and royalty interests in strategic oil & gas basins as well as some cash flows from energy infrastructure joint ventures, but in the grand scheme of things all of this plays an immaterial role in ARLP's business. The overal ...

TULSA, Okla.--(BUSINESS WIRE)--Alliance Resource Partners, L.P. (NASDAQ: ARLP) today announced that Steven Schnitzer will join ARLP as Senior Vice President, General Counsel and Secretary of Alliance Resource Management GP, LLC, the general partner of ARLP, on March 1, 2024 to lead ARLP's legal activities. "Mr. Schnitzer is well-known to ARLP and several members of our management team," said Joseph W. Craft III, Chairman, President and Chief Executive Officer. "Steven was involved in 1996 in the leverage ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023 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) Delaware 7 ...