Alpha Metallurgical Resources posts $18.6 million net loss for Q2

Friday, 06 August 2021 18:45:31 (GMT+3)   |   San Diego
       

Alpha Metallurgical Resources, Inc. today reported results for the second quarter ending June 30, 2021. The company reported a net loss of $18.6 million, compared to a net loss of $32.7 million in Q1 2021 and a net loss of $81.7 million in Q2 2020.

Total coal sold during Q2 2021 reached 4.0 million tons, compared to 4.1 million tons in the prior quarter and 3.9 million tons in the year-on-year quarter.

Commenting on the results, David Stetson, Alpha's Chairman CEO, said in a press release, "This has been a very challenging year for the coal industry, whether dealing with the pandemic or navigating the disruption of the coal supply resulting from the dispute between Australia and China; however, our team at Alpha stayed focused and disciplined. While we didn't have any greater insights or vision into the markets than others as we started the year, we believed that if we continued our efforts to modernize our coal operations with newer and more efficient mines, streamline decision making and allocate capital for projects that support our diversified product offerings to meet customer demands, we would be rewarded for those efforts when the markets rebounded."

As for a full-year guidance, the company said it is increasing its 2021 operating guidance with coal shipments now expected to be in the range of 15.6 million tons to 17.5 million tons, up from the prior range of 14.8 million to 16.2 million tons. Met segment volume is expected to be between 14.3 million to 15.8 million tons, up from the prior range of 13.5 million to 14.5 million tons. Within the Met segment, pure metallurgical coal shipments for the year are expected to be between 13.0 million to 14.0 million tons, up from the prior range of 12.5 million to 13.0 million tons, and incidental thermal shipments in this segment are expected to be between 1.3 million to 1.8 million tons, up from the prior range of 1.0 million to 1.5 million tons.


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