ALLIANCE RESOURCE PARTNERS LP
TULSA — Alliance Resource Partners LP on Monday reported record net income of $115.9 million, or $2.20 a unit, fueled by another quarter of record coal production. Alliance earned $102.9 million, or $1.95 a unit, in the first quarter of last year. “ARLP continued its record-setting performance in the first quarter of 2014, starting the year by establishing new quarterly benchmarks for coal production, EBITDA and net income,” CEO Joseph W. Craft III said. Alliance’s board increased its cash distribution to $1.2225 a unit, payable on May 15, while approving a two-for-one split of common units. New units will be distributed June 16.
ALLIANCE HOLDINGS GP LP
TULSA — Alliance Holdings GP LP boosted its first quarter net income by 12.4 percent to a record $67.4 million, or $1.13 a unit, the partnership reported Monday. Alliance Holdings earned $60 million, or 74 cents a unit, in the same period of 2013. “AHGP continues to benefit from the strong operating and financial performance of ARLP,” CEO Joseph W. Craft III said. “With ARLP poised to deliver another year of record results, our leverage to growth at ARLP is expected to benefit AHGP as well.”
FROM STAFF AND WIRE REPORTS