Alpha Metallurgical Sees Q4 Prelim Profit Below Estimates

(RTTNews) - Alpha Metallurgical Resources, Inc. (AMR), a coal supplier, on Monday announced preliminary results for the fourth-quarter that decreased from last year, mainly due to lower volumes and other challenges. Andy Eidson, Alpha's CEO, said: "Our volumes for the quarter came in lower than expected due to a confluence of negative factors, chiefly some challenging, but temporary, geological conditions at a few of our largest mines and transportation issues in moving our coal from the mines to preparation plants and train load outs. When combined with a few weather-related power outages, delays resulting from shortage of certain component equipment parts, and holiday shutdowns limiting additional work hours available to recover lost production, these headwinds made for a weaker-than-anticipated quarter and higher-than-projected cost environment."

For the fourth-quarter, the firm sees net income of $220.7 million or $13.37 per share, compared with $254.5 million or $13.80 per share of same period a year ago.

On average, 3 analysts polled by Thomson Reuters expect the company to report earnings of $18.14 per share, for the quarter. Adjusted EBITDA is projected at $247.9 million, versus previous year's $315.8 million.