HIGHBuilt-inCustomer
89.2%
domestic electric utilities
“10-K Item 1: '89.2% of our 2025 tons sold were purchased by domestic electric utilities'”
ARLP · Concentration risk · 10-K extracted
Alliance Resource Partners (ARLP) concentration risks
Updated
The most significant concentration Alliance Resource Partners discloses is domestic electric utilities at 89.2%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Alliance Resource Partners’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH1
MEDIUM0
LOW2
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
LOWOutside partyCustomer
Louisville Gas and Electric Company
“10-K Item 1: 'we derived more than 10% of our total revenue from each of Louisville Gas and Electric Company and American Electric Power Company Inc.'”
LOWOutside partyCustomer
American Electric Power Company Inc.
“10-K Item 1: 'we derived more than 10% of our total revenue from each of Louisville Gas and Electric Company and American Electric Power Company Inc.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is dominated by a single end-market: domestic electric utilities purchased 89.2% of tons sold in 2025, a high-share structural exposure that reflects the fundamental nature of coal partnership's business model. This is not a counterparty dependency in the traditional sense — it is a sector-level concentration where the identity of the buyer matters less than the aggregate demand from the regulated utility sector. The structural character means the exposure shifts with changes in utility dispatch economics, natural gas prices, and coal-to-gas switching decisions rather than with any single buyer's credit quality or procurement strategy. Within that buyer base, the company disclosed that it derived more than the threshold share of total revenue from each of Louisville Gas and Electric Company and American Electric Power Company Inc. — two limited-size customer dependencies that sit inside the broader utility concentration. Both are small-share exposures by disclosed size, but they represent specific counterparty relationships where a contract renegotiation, early termination, or credit event at either company would have a direct, identifiable impact on revenues rather than the diffuse effect of a sector-wide demand shift. On balance, the profile is straightforward: a structural utility-sector concentration dominates the headline, and two named single-customer exposures add a degree of idiosyncratic risk beneath it. The combination is well-disclosed and reflects the company's deliberate positioning as a domestic thermal coal supplier to regulated power generators.
For the engine’s reasoning on ARLP’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Thermal Coal
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| BTU | Peabody Energy Corporation | 1 | 2 | 0 | 3 |
| CNR | Core Natural Resources, Inc. | 1 | 1 | 0 | 2 |
| ARLP● | Alliance Resource Partners, L.P | 1 | 0 | 2 | 3 |
| NRP | Natural Resource Partners LP Li | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.