Timothy J. Whelan, Senior Vice President of Sales at Alliance Resource (NASDAQ:ARLP) Partners LP (NASDAQ:ARLP), a coal producer with a market capitalization of $3.48 billion and strong financial health according to InvestingPro, recently sold 10,000 common units of the company. The shares were sold at a price of $28 each, totaling $280,000, with the stock trading near its 52-week high after gaining nearly 47% year-to-date. Following this transaction, Whelan now holds 157,946 shares directly. The company stands out with its attractive 10.14% dividend yield and modest P/E ratio of 7.8. The sale was disclosed in a filing with the Securities and Exchange Commission, dated December 4, 2024. For deeper insights into ARLP's insider trading patterns and comprehensive financial analysis, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Alliance Resource Partners faced a challenging third quarter with its financial performance falling short of market consensus and analyst expectations, as reported by Benchmark. The company's adjusted EBITDA was $170 million, affected by shipment deferrals, decreased export sales, and difficult conditions at its Appalachia mining operations. Despite these setbacks, the company's full-year sales and price per ton are forecasted to be at the lower end of prior guidance, with expense per ton at the higher end.
Alliance Resource Partners is finalizing contracts for approximately 21.7 million tons spanning from 2025 to 2030, which are set to elevate its 2025 commitments to historical levels. Despite anticipated price declines for 2025, the company expects costs to be reduced due to the completion of recent projects.
In other developments, Q3 results showed an increase in coal sales shipments by 6.7% to 8.4 million tons, but a decrease in coal production by 7.2% to 7.8 million tons and a 2.1% drop in the average coal sales price per ton. The company's net income for Q3 2024 was reported at $86.3 million, with consolidated revenue at $613.6 million. Major capital projects are expected to complete in early 2025, which should lower operating costs and extend mine life. These are among the recent developments for Alliance Resource Partners.
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