Metallurgical coal producer Walter Energy Inc. (WLT, WLT.TO) Wednesday reported a net loss for the fourth quarter, compared to a profit last year, amid a sharp decline in revenues as a result of reduced demand and pricing for met coal. The stock fell nearly 6 percent in after-market trading.
The quarterly loss was $71.0 million or $1.13 per share, compared to net income of $80.3 million or $1.28 per share for the year-ago quarter.
The latest results included impairment and restructuring charges of $6.8 million, mainly due to a reduction in spending at the Aberpergwm mine in the U.K. Results for the quarter also included a $71 million tax benefit.
Excluding items, net loss for the fourth quarter was $66.4 million. On average, 21 analysts polled by Thomson Reuters expected a loss of $0.89 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues declined to $478.78 million from $703.01 million a year ago. Analysts expected revenues of $511.31 million.
Revenue from U.S. Operations fell to $325.84 million from $481.01 million, while Canadian and U.K. Operations generated $152.41 million, lower than the $221.50 revenue brought in last year.
The realized price of met coal declined 39 percent to about $149 per MT compared with the fourth quarter of 2011.
Production of met coal rose to 2.5 million metric tons or MMTs from 2.3 MMTs produced in the fourth quarter of 2011. Walter Energy sold 10.4 MMTs of met coal, up 19 percent from 2011.
WLT, which closed down 8 percent at $36.76 on Wednesday, fell 5.9 percent to $34.60 in the extended trade.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.