Alliance Resource Partners Sales Up 40.4%, Posts Mixed Results (ARLP)

Tulsa, Oklahoma-based Alliance Resource Partners ARLP released financial results on Friday morning that beat Wall Street earnings estimates but missed revenue expectations. Alliance Resource Partners announced that its 4th quarter net income climbed to $87.4 million, or $1.82 per share, up from $41.7 million, or 70 cents per share, a year earlier. Alliance Resource Partners reported revenue of $418.61 million, up 40.4% from $298.18 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of $1.66 per share, on revenue of $420.23 million. Alliance Resource Partners (ARLP) finished the previous trading day at $68.14 per share. The consensus price target of analysts covering the company's stock is $65.83per share. Alliance Resource Partners is a diversified producer and marketer of coal to major United States utilities and industrial users. Read more from Benzinga's Company news.