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Alliance Resource Partners (ARLP) investor relations material
Alliance Resource Partners Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Third quarter 2025 revenues were $571.4 million, with net income of $95.1 million and adjusted EBITDA of $185.8 million, reflecting sequential increases of 4.4%, 60.1%, and 14.8%, respectively.
Coal sales volumes reached 8.7 million tons and production 8.4 million tons, both up year-over-year and sequentially.
Free cash flow for the quarter was $151.4 million, and distributable cash flow was $106.4 million, up 17% sequentially.
Quarterly cash distribution declared at $0.60 per unit, annualized at $2.40 per unit.
Invested $22.1 million in a limited partnership acquiring a 2.7 GW coal-fired plant in PJM, expected to generate strong returns.
Financial highlights
Average coal sales price per ton was $58.78, down 7.5% year-over-year but up 1.5% sequentially.
Total coal production was 8.4 million tons (up 8.5% year-over-year), and coal sales volumes were 8.7 million tons (up 3.9% year-over-year).
Royalties segment revenues rose 11.9% year-over-year to $57.4 million, with coal royalty tons sold up 38.1%.
Adjusted EBITDA expense per ton in Appalachia improved 11.7% year-over-year; Illinois Basin expense per ton decreased 6.4%.
Ended Q3 with $541.8 million in liquidity, including $94.5 million in cash and 568 Bitcoin valued at $64.8 million.
Outlook and guidance
Full-year 2025 coal sales guidance tightened to 32.5–33.25 million tons, with 32.8 million tons already committed and priced for 2025.
2026 contracted and priced sales tons increased to 29.1 million, up 9% from last quarter.
Segment-adjusted EBITDA expense per ton for 2025 expected at $60–$62 in Appalachia and $34–$36 in Illinois Basin.
Oil and gas royalty volume guidance adjusted due to a Permian multi-well pad now expected online in early 2026.
Expectation for 2026 sales volumes to increase by about 2 million tons over 2025, driven by Tunnel Ridge and Illinois Basin.
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