Why Alliance Resource Partners Jumped Today
Alliance Resource Partners, L.P. (NASDAQ: ARLP) climbed 8.8% on Monday after the natural resources company reported sharply higher profits and boosted its cash payout to investors.
Alliance's revenue surged 48% year over year to $700.7 million in the fourth quarter. The energy provider's net income, in turn, soared 314% to $214.5 million, or $1.63 per unit.
Following Russia's invasion of Ukraine, many governments and businesses have been striving to secure energy supplies from more reliable sources. That's leading to significantly higher prices for coal and other fuels from U.S.-based producers.
Source Fool.com
