Arch Coal, Inc. today reported first quarter 2017 net income of $51.7 million, compared with $33.4 million in the fourth quarter of 2016.
In the Metallurgical segment, first quarter 2017 cash margins increased nearly 165 percent versus the fourth quarter of 2016. Average sales price per ton rose $25.23 in the first quarter of 2017 when compared with the fourth quarter of 2016, benefiting primarily from the ongoing strength in metallurgical coal markets. Sales volumes declined 12 percent over the same time period, due primarily to two planned longwall moves and to restricted lake season delivery schedules.
Arch shipped 1.5 million tons of coking coal during the quarter at an average realized price of $105.51, a 40-percent increase over the average realized price achieved in the fourth quarter of 2016.