Alpha Natural Resources Posts Q1 Adjusted Net Loss Of $176 Mln - Quick Facts

(RTTNews) - Alpha Natural Resources, Inc. (ANR), a leading U.S. coal supplier, reported a first quarter net income of $68 million or $0.30 per share, compared to a net loss of $56 million or $0.25 per share in the first quarter of 2014. The company noted that its first quarter net income included a $364 million gain on early extinguishment of debt. Adjusted net loss was $176 million or $0.79 per share, for the quarter.

On average, 17 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.73 for the quarter. Analysts' estimates typically exclude special items.

Total revenues were $0.8 billion compared to $1.1 billion in the first quarter of 2014, and coal revenues were $0.7 billion, down from $1.0 billion in the year-ago period. Analysts expected revenue of $855.68 million for the quarter.

The company said the decrease in coal revenues was attributable to lower average realizations in all regions and fewer tons sold in the East, mainly due to weather, resulting in reduced shipments and coal revenue by approximately one million tons and more than $50 million, respectively.