Alpha Natural Resources Q3 Loss Widens

(RTTNews) - Coal producer Alpha Natural Resources, Inc. (ANR) Thursday reported third quarter net loss of $458.24 million or $2.07 per share, sharply wider than $46.15 million or $0.21 per share in the previous year.

Excluding the items, adjusted net loss was $0.61 per share, while the company posted adjusted net loss of $0.16 per share last year.

On average, 25 analysts polled by Thomson Reuters expected loss per share of $0.77 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues for the quarter decreased to $1.2 billion from $1.6 billion in the third quarter of 2012, while analysts' estimated revenues of $1.18 billion for the quarter. .

Coal revenues were $1.0 billion, down from $1.5 billion in the year-ago quarter.

Kevin Crutchfield, chairman and CEO.said, "Although our third quarter results this quarter reflect the tough market environment and downtime at our Cumberland mine, we are encouraged that the metallurgical coal market appears to be gradually improving..."