St. Louis, Missouri-based coal miner Arch Coal, Inc. announced its Q4 and full-year results for 2011 on Friday. Net income for Q4 of fiscal 2011 is $70.9 million--compared with $47.8 million in Q4 of the previous year--while net revenues for Q4 of fiscal 2011 totaled $1.2 billion, an increase of 47 percent over Q4 of the previous year. Net income for 2011 totaled $205.2 million with annual earnings before interest, taxes, depreciation, depletion and amortization (EBITDA) totaling $921.1 million. 2011 also proved to be a record setting year for Arch Coal as they reached $4.3 billion in sales revenue--a 35 percent increase over 2011.
"Arch delivered solid quarterly financial results despite weakening coal market conditions as the fourth quarter progressed," said Steven F. Leer, Arch Coal's chairman and chief executive officer. "In particular, our Powder River Basin operations rebounded from flood-related disruptions earlier this year. Also, higher realized prices and solid cost control across our diverse operating platform helped to expand our per-ton operating margins versus a year ago."
Also adding to the solid financial results is the acquisition of ICG in June for $3.5 billion, which expanded Arch's pipeline of low-cost, high-quality metallurgical coal development projects, which are geared toward serving both domestic and international steel markets. The transaction also established Arch as the second largest US-- and a top 10 global--metallurgical coal producer.