Alliance Resource Partners L.P. (NASDAQ:ARLP) Q3 2023 Earnings Conference Call October 27, 2023 10:00 AM ET
Company Participants
Joe Craft - Chairman, President & Chief Executive Officer
Cary Marshall - Senior Vice President & Chief Financial Officer
Conference Call Participants
Nathan Martin - Benchmark Company
Mark Reichman - Noble Capital Markets
David Marsh - Singular Research
Dave Storms - Stonegate Capital Market
Operator
Hello. And welcome to the Alliance Resource Partners Third Quarter 2023 Earnings Conference [Operator Instructions] As a reminder, this conference is being recorded.
It’s now my pleasure to turn the floor to Senior Vice President and CFO, Cary Marshall. Please go ahead, sir.
Cary Marshall
Thank you, operator, and welcome, everyone. Earlier this morning, Alliance Resource Partners released its third quarter 2023 financial and operating results, and we will now discuss those results as well as our perspective on current market conditions and outlook for the balance of 2023. Following our prepared remarks, we will open the call to answer your questions.
Before beginning, a reminder that some of our remarks today may include forward-looking statements subject to a variety of risks, uncertainties and assumptions contained in our filings from time to time with the Securities and Exchange Commission and are also reflected in this morning's press release. While these forward-looking statements are based on information currently available to us, if one or more of these risks or uncertainties materialize or if our underlying assumptions prove incorrect, actual results may vary materially from those we projected or expected. And in providing these remarks, the partnership has no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law to do so.
Finally, we will also be discussing certain non-GAAP financial measures. Definitions and reconciliations of the differences between these non-GAAP financial measures and the most directly comparable GAAP financial measures are contained at the end of ARLP's press release, which has been posted on our website and furnished to the SEC on Form 8-K. With the required preliminaries out of the way, I will begin with a review of our results for the third quarter, then turn the call over to Joe Craft, our Chairman, President and Chief Executive Officer, for his comments.
Total revenues in the 2023 quarter increased slightly to $636.5 million compared to $632.5 million in the 2022 quarter. The modest year-over-year improvement was driven primarily by higher transportation and other revenues, partially offset by lower oil and gas royalties. Total coal sales price per ton rose to $64.94 per ton for the 2023 quarter, an increase of 8.3% versus the 2022 quarter, and continues to reflect the positive impacts of our contracted order book. On a sequential basis, coal sales price per ton was 3.2% higher.