Alliance Resource Partners, L.P. (ARLP) has reported a 7.68 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $89.78 million, or $0.91 a share in the quarter, compared with $83.38 million, or $0.61 a share for the same period last year.
Revenue during the quarter went down marginally by 2.54 percent to $552.07 million from $566.44 million in the previous year period. Gross margin for the quarter contracted 357 basis points over the previous year period to 37.02 percent. Total expenses were 82.53 percent of quarterly revenues, up from 81.07 percent for the same period last year. That has resulted in a contraction of 146 basis points in operating margin to 17.47 percent.
Operating income for the quarter was $96.43 million, compared with $107.22 million in the previous year period.
"ARLP continued to perform well in the 2016 Quarter and slightly better than our expectations," said Joseph W. Craft III, President and Chief Executive Officer. "Record sales volumes allowed us to significantly reduce coal inventories and, along with ongoing cost containment efforts, led to increased net income and EBITDA.
Operating cash flow declines
Alliance Resource Partners, L.P. has generated cash of $494.53 million from operating activities during the nine month period, down 6.50 percent or $34.37 million, when compared with the last year period.
The company has spent $164.69 million cash to meet investing activities during the nine month period as against cash outgo of $288.83 million in the last year period. It has incurred net capital expenditure of $92.51 million on net basis during the nine month period, down 41.32 percent or $65.15 million from year ago period.
The company has spent $341.90 million cash to carry out financing activities during the nine month period as against cash outgo of $228.73 million in the last year period.
Cash and cash equivalents stood at stood at $21.37 million as at Sep. 30, 2016.
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