Q4 2025 Alliance Resource Partners LP Earnings Call Transcript
Key Points
- Adjusted EBITDA for the fourth quarter of 2025 was $191.1 million, marking a 54.1% increase from the same quarter in 2024.
- Net income attributable to Alliance Resource Partners LP (ARLP) in the fourth quarter of 2025 was $82.7 million, significantly up from $16.3 million in the fourth quarter of 2024.
- The Illinois Basin achieved record production volumes and saleable yield during the 2025 full year, with a 14.4% decrease in segment adjusted EBITDA expense per tonne compared to the 2024 quarter.
- The Royalty segment delivered strong results with total revenue of $56.8 million, up 17.2% year-over-year, driven by higher coal royalty tonnes and record oil and gas BOE volumes.
- Alliance Resource Partners LP (ARLP) ended the 2025 quarter with a strong balance sheet, including total liquidity of $518.5 million and a distribution coverage ratio of 1.29 times.
- Total revenues for the fourth quarter of 2025 were $535.5 million, a decline from $590.1 million in the fourth quarter of 2024, primarily due to lower coal sales and transportation revenues.
- Coal sales volumes in the Illinois Basin were down approximately 2% compared to both the 2024 and sequential quarters.
- The Mettiki mine faced challenges with a key customer's plant outages, leading to a lack of commitment for future purchases and the issuance of WARN Act notices.
- Segment adjusted EBITDA expense per tonne in the Appalachia region increased 9.7% compared to the sequential quarter due to lower production and recoveries.
- The fair value of digital assets decreased by $15.4 million in the fourth quarter of 2025.
Greetings. Welcome to the Alliance Resource Partners fourth-quarter 2025 earnings conference call. (Operator Instructions). Please note, this conference is being recorded.
At this time, I'd like to turn the conference over to Cary Marshall, Senior Vice President and Chief Financial Officer. Thank you, Cary. You may now begin.
Thank you, operator. Good morning, and welcome, everyone. Earlier today, Alliance Resource Partners released its fourth-quarter 2025 financial and operating results. And we will now discuss those results as well as our perspective on current market conditions and outlook for 2026. Following our prepared remarks, we will open the call to answer your questions.
Before beginning, a reminder that some of our remarks today may include forward-looking statements subject to a variety of risks, uncertainties, and assumptions contained in our filings from time to time with the Securities and Exchange Commission, and are also reflected in
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