Alliance Resource Partners, L.P. plans to release its first quarter 2023 financial results before the market opens on Tuesday, May 2, 2023.
Executives and investors will no doubt be expecting another strong financial performance for the firm following its record performance in 2022.
The Tulsa company, with major coal operations throughout the eastern U.S. along with oil and gas holdings, will hold a conference call the same day. It will begin at 9 a.m. Central Time.
In January, the company announced its fourth quarter 2022 revenue was $700.7 million while net income was $214.5 million and EBITDA of $2939 million. The quarterly revenue was up 48% while the net income shot up nearly 314% and EBITDA gained about 126%.
Alliance stated that its full year 2022 revenue was a record $2.4 billion which was 53% higher over 2021. Full-year net income of $577 million rose 224% and EBITDA for 2022 grew 53%.
With coal the target of recent administrations in the White House, Alliance moved in recent years toward expansion of its oil and gas holdings.
The company continued to expand its oil and gas holdings over the past year and in January 2023, announced the acquisition of 2,682 net oil and gas royalty acres in the Permian Basin. The $72.3 million purchase was made from JC Resources LP, an entity owned by President and CEO Joseph W. Craft III