Why Units of Alliance Resource Partners Are Rallying Today
Units of Alliance Resource Partners (NASDAQ: ARLP) jumped more than 11% by 2:30 p.m. EST on Monday. Powering the coal-producing MLP were its fourth-quarter results.
Alliance's revenue rose 3.1% during the fourth quarter compared to the third quarter to $366.5 million, while its EBITDA increased by 2.1% to $121.4 million. Driving that sequential improvement were increased coal sales, and higher oil and gas royalty revenues. While revenue was down 19.2% year over year because of the impacts from the COVID-19 pandemic, EBITDA only fell 3.8% thanks to the positive effect of its cost-cutting initiatives.
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Source Fool.com
