Mining

Arch Resources Reports Second Quarter 2020 Results

ST. LOUIS, July 28, 2020 /PRNewswire/ — Arch Resources, Inc. (NYSE: ARCH) today reported a net loss of $49.3 million, or $3.26 per diluted share, in the second quarter of 2020, compared with net income of $62.8 million, or $3.53 per diluted share, in the prior-year period. Arch had negative adjusted earnings before interest, taxes, depreciation, depletion, amortization, accretion on asset retirement obligations, and non-operating expenses (“adjusted EBITDA”) (1) of $10.7 million in the second quarter of 2020, which includes a $0.1 million non-cash mark-to-market gain associated with the company’s coal-hedging activities and excludes a $14.5 million gain associated with additional insurance proceeds from a previously disclosed equipment loss at Mountain Laurel. This compares to $105.6 million of adjusted EBITDA recorded in the second quarter of 2019, which included an $8.4 million non-cash mark-to-market gain associated with the company’s coal-hedging activities. Revenues totaled $319.5 million for the three months ended June 30, 2020, versus $570.2 million in the prior-year quarter.

Source: miningstockeducation.com

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