Alliance Resource Up 8% On Better-than-expected Results

(RTTNews) - Shares of coal producer Alliance Resource Partners, L.P. (ARLP) are rising more than 8% Monday morning after reporting better-than-expected fourth-quarter results.

Net income for the fourth Quarter increased to $214.5 million, or $1.63 per limited partner unit, from $51.8 million, or $0.40 per limited partner unit, for the same quarter a year ago.

On average, analysts polled by Thomson-Reuters were expecting the company to report earnings of $1.42 per share.

Quarterly revenue increased 48% year-on-year to $700.7 million. The consensus estimate stood at $688.09 million.

ARLP is at $22.34. It has traded in the range of $12.60-$27.63 in the last 1 year.