Alliance Resource Partners: 1Q24 Earnings Confirm That The Value Is Durable

Abstract Aerial ArtEarly March this year, I issued a bullish thesis on Alliance Resource Partners, L.P. (NASDAQ:ARLP), which is the largest coal producer in the eastern U.S. It is also worth noting that ARLP's business is not only about coal, but also increasingly about revenue generation from mineral and royalty interests in strategic oil & gas basins (albeit this share is relatively minor as of now). My investment case boiled down to the underlying value and its cheapness in the context of the balance ...