Alpha Metallurgical Resources reports net loss for Q4 2020

Monday, 15 March 2021 19:10:55 (GMT+3)   |   San Diego

Alpha Metallurgical Resources, Inc. today released results for the fourth quarter ending December 31, 2020, reporting a net loss from continuing operations of $55.1 million. In the third quarter 2020, the company reported a net loss from continuing operations of $68.5 million.

Total Adjusted EBITDA was $7.4 million for the fourth quarter, compared with $12.4 million in the third quarter, primarily due to lower coal revenues and higher metallurgical coal costs per ton, the company said in a statement.

During the fourth quarter, the company said global metallurgical coal prices were mixed, with Australian prices declining while Atlantic prices showed modest improvement, resulting in the company’s average metallurgical coal sales realization increase of 2 percent against the prior quarter to $75.24 per ton.

As for full-year guidance, the company reiterated its previously issued 2021 operating guidance with coal shipments guidance range of 14.8 million tons to 16.2 million tons, with Met segment volume expected to be between 13.5 million to 14.5 million tons with pure metallurgical coal shipments of 12.5 million to 13.0 million tons and incidental thermal shipments in this segment of 1.0 million to 1.5 million tons. The All Other segment volume is anticipated to be between 1.3 million tons to 1.7 million tons.

The company expects its strong cost performance to continue in 2021 with Met segment cost of coal sales per ton anticipated at a range of $68.00 to $74.00 and the All Other segment is expected to be in the range of $45.00 to $49.00 per ton.

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