– Achieves another strong performance from its metallurgical portfolio despite a lower price environment and a major operational transition at Mountain Laurel
– Guides to significant and continuing reductions in metallurgical costs
– Makes excellent progress in developing its world-class Leer South growth project
– Announces 11-percent increase in quarterly dividend
ST. LOUIS, MO (STL.News) Arch Coal, Inc. (NYSE: ARCH) today reported a net loss of $8.6 million, or $0.57 per diluted share, in the fourth quarter of 2019, compared with net income of $86.1 million, or $4.44 per diluted share, in the prior-year period. Included in the company’s fourth quarter results was a loss of $9.0 million associated with the December sale of its Coal-Mac thermal operations. Arch had adjusted earnings before interest, taxes, depreciation, depletion, amortization, accretion on asset retirement obligations, amortization of sales contracts, and non-operating expenses (“adjusted EBITDA”) 1 of $43.7 million in the fourth quarter of 2019, which includes a $1.3 million non-cash mark-to-market loss associated with the company’s coal-hedging activities. This compares to $122.6 million of adjusted EBITDA recorded in the fourth quarter of 2018, which included a $13.0 million non-cash mark-to-market gain associated with the company’s coal-hedging activities. Revenues totaled $549.5 million for the three months ended December 31, 2019, versus $651.0 million in the prior-year quarter.
NOTE: this is NOT the complete release – PDF