Alliance Holdings 3-Month Earnings Up; Raises Quarterly Cash Distribution

(RTTNews) - Coal producer Alliance Holdings GP, L.P. (AHGP) Monday reported a rise in earnings as well as revenues for the three months ended June.

The board recommended a raise in cash distribution to $0.87 per unit, or an annualized rate of $3.48 per unit, payable on August 19 to shareholders of record on August 12.

For the 3-month period, net earnings totaled $77.35 million or $1.29 per limited partner unit, up from $60.98 million or $1.02 per limited partner unit a year earlier.

On average, three analysts polled by Thomson-Reuters estimated the company's earnings to be $1.05 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly sales rose to $598.46 million, from $553.48 million last year, above the $577.66 million Wall Street expected.