Alpha Metallurgical Resources reports net loss in Q1

Alpha Metallurgical Resources reports net loss in Q1

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Alpha Metallurgical Resources, Inc. today reported results for the first quarter ending March 31, 2021. Alpha reported a net loss from continuing operations of $32.7 million for the first quarter. In the fourth quarter 2020, the company had a net loss from continuing operations of $55.1 million.

Total Adjusted EBITDA was $28.9 million for the first quarter, compared with $7.4 million in the fourth quarter 2020, primarily due to higher volumes and improved coal revenues per ton.

As for an outlook for the full year 2021, the company said in a press release that it reiterates 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.

“Our first quarter results demonstrate our continued commitment to cost management and focus on fundamental operations performance,” said David Stetson, Alpha’s chair and chief executive officer in a press release. “Despite pricing headwinds from the Australian indices that limited our total realizations for the quarter, Alpha’s volumes were very strong and we remain cautiously optimistic about improved market conditions going into the second half of 2021.”

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