In its first quarter financial results, Alliance Resource Partners LP (ARLP) revealed a drop in earnings compared to the same period in the prior year, but still exceeded financial analysts' expectations.
The company reported a net income of $158.06 million, which translates to $1.21 per share. This is in contrast to the first quarter of the previous year wherein the company posted a net income of $191.19 million or $1.45 per share.
Previous market forecasts projected that the company would earn an average of $0.93 per share, based on data assembled by Thomson Reuters. These predictions generally don't account for one-off items.
As for the company's revenue, it experienced a slight dip of 1.7% in the first quarter to $651.70 million, compared to $662.92 million the previous year.
To recap the main points of Alliance Resource Partners LP's first quarter earnings (as per GAAP):
- Net Income (Q1): Fell to $158.06 million from $191.19 million in the previous year.
- Earnings per Share (Q1): Dropped to $1.21 from $1.45 last year.
- Revenue (Q1): Decreased to $651.70 million from $662.92 million the previous year.