Assets Structure Analysis
Alliance Resource Partners, L.P.’ s total assets were $2.79 billion at December 31, 2023.
Total property, plant and equipment, net were $2.02 billion as of December 31, 2023, making up a extremely largely proportion of total assets.
Total current assets were $516 million at December 31, 2023.
Liquidity and Solvency
Total current liabilities were $227.5 million as of December 31, 2023.
The current ratio was 2.27 times for fiscal 2023.
Total liabilities were $929.9 million as of December 31, 2023.
The debt ratio was 33.3% for 2023.
We think Alliance Resource Partners, L.P.’ s liquidity is sufficient and the company ‘s debt is moderate.
Profitability Analysis
Total revenues were $2.57 billion, $2.42 billion and $1.58 billion in 2023, 2022 and 2021, respectively.
Generally, coal sale price is a factor, which affect Alliance Resource Partners, L.P.’ s operating performance.
Net income was $636 million, $588 million and $183 million for 2023, 2022 and 2021, respectively.
Cash Flow Analysis
Net cash provided by operating activities were $830.6 million, $802.3 million and $432.2 million in 2023, 2022 and 2021, respectively.
Capital expenditures were $380 million, $286.4 million and $123 million in 2023, 2022 and 2021, respectively.
Distributions paid to partners were $364.6 million, $196.3 million and $52.16 million in 2023, 2022 and 2021, respectively.
Alliance Resource Partners, L.P.’ s operating performance for Q1 2024
Total revenues were $651.7 million and $663 million in Q1 2024 and Q1 2023.
Net income was $160 million and $193 million in Q1 2024 and Q1 2023.
Conclusion
Alliance Resource Partners, L.P. is a easy company, which sales coal to get revenues.
The company’s operating performance fluctuate with coal price.
If you wish to get dividends, you could buy this stock. We think the position in this stock should not exceed 5% of the portfolio.
Now, ARLP stock price is $25.30 per share, which is equivalent to $3.24 billion in market capitalization.
Disclaimer: The content is for reference only and does not constitute investment advice.
Introduction
Alliance Resource Partners, L.P. is a diversified natural resource company that generates operating and royalty income from the production and marketing of coal to major domestic and international utilities and industrial users as well as royalty income from oil & gas mineral interests located in strategic producing regions across the United States.
