Tulsa-based Alliance Resource Partners, L.P. will report its third quarter 2020 financial results before the market opens on Monday, October 26, 2020. Investors await news whether losses will continue because of the COVID-19 pandemic.
Management of the second largest coal producer in the eastern part of the U.S. will discuss the results during a conference call at 10 a.m. Eastern time on the same day.
The company reported a nearly $47 million loss in its second quarter which translated to 37 cents per share. A year earlier, Alliance reported net income of $58 million and 44 cents a share.
Alliance said the loss was due to its decision to temporarily cease coal production at five of its seven mining complexes at the beginning of the quarter in response to the impacts of the COVID-19 pandemic and coal market deterioration.
Source: Alliance Resource Partners