Adjusted EBITDA: $49 million for Q3 2024.
Tons Shipped: 4.1 million tons in Q3 2024.
Met Segment Realization: $132.76 per ton in Q3 2024, down from $141.86 in Q2 2024.
Export Met Tons Realization: $129.31 per ton for Atlantic indices, $128.61 per ton for Australian indices in Q3 2024.
Cost of Coal Sales (Met Segment): $114.27 per ton in Q3 2024, up from $109.31 in Q2 2024.
SG&A Expenses: $13.4 million in Q3 2024, down from $14.2 million in Q2 2024.
Capital Expenditures: $31.5 million in Q3 2024, down from $61.1 million in Q2 2024.
Unrestricted Cash: $484.6 million as of September 30, 2024, up from $336.1 million as of June 30, 2024.
Total Liquidity: $507 million as of September 30, 2024, up from $356.7 million at the end of Q2 2024.
Cash Provided by Operating Activities: $189.5 million in Q3 2024, up from $138.1 million in Q2 2024.
2025 Shipment Guidance: 16.0 to 17.4 million tons.
2025 Cost of Coal Sales Guidance: $103 to $108 per ton.
2025 Capital Expenditures Guidance: $152 million to $182 million.
2025 Committed Metallurgical Tonnage: 24% committed at an average price of $152.51 per ton.
Release Date: November 01, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Alpha Metallurgical Resources Inc (NYSE:AMR) increased its total liquidity by $150 million or 42% between July 1 and the end of the third quarter.
The company successfully transferred many employees from the Checkmate mine to other positions within the company, retaining expertise and filling critical vacancies.
Alpha Metallurgical Resources Inc (NYSE:AMR) has no long-term debt, providing greater flexibility to manage the business during market downturns.
The Kingston Wildcat mine, a new development, is expected to enhance the company’s portfolio with low volatile coal production starting in late 2025.
The company has committed 86% of its metallurgical tonnage for 2024 at an average price of $152.42, providing some stability in cash flows.
The company’s third-quarter results were negatively impacted by decreased coal pricing and soft market conditions.
Alpha Metallurgical Resources Inc (NYSE:AMR) had to idle its Checkmate mine due to uneconomic conditions, impacting employees and production.
Metallurgical coal prices continued to decline during the third quarter, with significant drops in key indices.
The company did not repurchase any shares in the third quarter under its share buyback program due to continued softness in the met coal markets.
Alpha Metallurgical Resources Inc (NYSE:AMR) expects a reduction in coal shipments for 2025, with guidance indicating a decrease of about 400,000 tons compared to 2024.
