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Tulsa-based coal producer reports sales, net income benchmarks set for 2013

January 28, 2014

By Rod Walton, Tulsa World, Okla.

Jan. 28 -- Tulsa -based coal producer Alliance Resource Partners LP set new records in sales, volume, revenues and profit for 2013, the company reported Tuesday. Revenues climbed 8.4 percent to an all-time high of $2.2 billion for the 12 months ending Dec. 31 , while net income rose 17 percent to a best-ever $393.5 million . Alliance also set records for coal sales and production both at 38.8 million tons. "For the 13th consecutive year, ARLP posted record results and set new annual benchmarks in 2013 for our major operating and financial measures," Alliance CEO Joseph Craft said in the earnings release. "Looking ahead, market dynamics continue to favor the Illinois Basin and Northern Appaclachia coal markets and we remain encouraged that our strategy of expanding ARLP's presence as a low-cost operator in these regions will create growth opportunities in the future." Alliance Resource Partners , through its subsidaries, owns and operates coal mines in Illinois , Indiana , Kentucky , Maryland and West Virginia . The company is the third-largest coal operator in the U.S., according to its report. Craft said the outlook for 2014 pointed to another record year. Nearly 90 percent of its anticipated coal volumes already are priced and committed to customers, he added. Alliance expects that coal volumes will exceed 39 million tons, including added production from the Tunnel Ridge mine under land in West Virginia and Pennsylvania . ___ (c)2014 Tulsa World (Tulsa, Okla.) Visit Tulsa World (Tulsa, Okla.) at www.tulsaworld.com Distributed by MCT Information Services


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Source: Tulsa World (OK)


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