Alliance Holdings GP Q3 Profit Rises - Quick Facts

(RTTNews) - Alliance Holdings GP, L.P. (AHGP) Monday posted a higher third-quarter net income, with increase in revenues. Alliance Holdings GP is a limited partnership formed to own and control Alliance Resource Management GP, LLC, the managing general partner of Alliance Resource Partners, L.P. (ARLP), through which it holds a 1.98 percent general partner interest and the incentive distribution rights in ARLP.

Net income attributable to Alliance Holdings GP, L.P. was $54.2 million or $0.91 per share, compared with $39.4 million or $0.66 per share last year.

On average, four analysts polled by Thomson Reuters expected the company to report earnings per share of $0.92 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the three-month period increased to $537.1 million, from $511.3 million last year. Analysts expected the company to generate revenues of $551.27 million for the quarter.

Alliance Holdings GP, further announced that its general partner declared a quarterly cash distribution of $0.8075 per unit, payable on November 19, to unitholders on record November 12. The declared distribution is based on the distribution Alliance Holdings GP will get from its ownership interests in Alliance Resource Partners, which announced a cash distribution of $1.175 per unit, payable on November 14, to unitholders on record November 7.