Alpha Metallurgical Resources Posts Loss In Q2

(RTTNews) - Alpha Metallurgical Resources, Inc. (AMR) posted a second quarter net loss of $5.0 million compared to profit of $58.9 million, prior year. Net loss per share was $0.38 compared to profit of $4.49. Analysts on average expected the company to report a loss per share of $2.76, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA declined to $46.1 million from $116.0 million, previous year. Second quarter total revenues declined to $550.27 million from $803.97 million, previous year.

The company said it is increasing expected idle operations expense for the year, moving to a range of $21 million to $29 million, up from the prior range of $18 million to $28 million. Alpha lowered its cost of coal sales guidance for the year to a range of $101.00 per ton to $107.00 per ton, down from the prior range of $103.00 per ton to $110.00 per ton.

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