Alliance Resource Initiates FY20 Outlook, Slashes Cash Distribution

(RTTNews) - While reporting financial results for the fourth quarter on Monday, Alliance Resource Partners, L.P. (ARLP) initiated financial guidance for the full-year 2020. For fiscal 2020, the company now projects net income attributable to ARLP in a range of $81.0 million to $159.0 million and revenues (Excluding Transportation Revenues) between $1.65 billion and $1.77 billion.

Further, the Board of Directors of ARLP's general partner decreased the quarterly cash distribution to unitholders for the quarter to $0.40 per unit, payable on February 14, 2020 to all unitholders of record as of the close of trading on February 7, 2020.

"ARLP anticipates challenging coal market conditions will persist throughout 2020 as low natural gas prices, tepid power demand and elevated stockpiles are likely to keep the industry in an oversupplied position and continue to exert pressure on pricing for the near future," said Joseph Craft III, Chairman, President and Chief Executive Officer.