Arch Resources Turns To Profit In Q2

Coal mining company Arch Resources, Inc. (ARCH) on Tuesday swung to profit in the second quarter, aided by higher revenues. The second quarter results topped the Street estimates.

The company posted second quarter net income of $27.9 million or $1.66 per share, compared to net loss of $49.3 million or $3.26 per share in the same period last year.

On average, 4 analysts polled by Thomson Reuters expected the company to post earnings of $0.81 per share in the quarter. Analysts' estimates, usually, exclude one-time items.

Arch Resources recorded adjusted EBITDA of $66.5 million, inclusive of a $8.8 million non-cash mark-to-market loss associated with its coal-hedging activities. In the year-ago quarter, the company posted negative $10.7 million adjusted EBITDA, which included a $0.1 million non-cash mark-to-market gain associated with the coal-hedging activities.

Quarterly revenues rose to $450.4 million from $319.5 million in the prior-year period, while analysts were looking for revenues of $359.4 million.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Pittsburgh, Pennsylvania -based Thorley Industries, LLC, d.b.a. 4Moms is recalling more than 2 million MamaRoo swings and RockaRoo rockers citing entanglement and strangulation risks, the U.S. Consumer Product Safety Commission said. The recall was initiated after 4moms received two reports of entanglement incidents, including one death. Retail giant Walmart is partnering with media major Paramount Global to offer Paramount+ Essential subscription to Walmart+ members at no extra cost. Starting in September, Walmart+ members will be able to stream premium entertainment as part of their membership with Paramount+, a direct-to-consumer digital subscription video on-demand and live streaming service. Fifth Season is recalling a limited amount of its branded Crunchy Sesame Salad Kits due to undeclared milk and egg, known allergens, the U.S. Food and Drug Administration said. The recall involves Fifth Season branded Crunchy Sesame Salad Kit with UPC Code: 52070008147 and Best By Date of 16-AUG-2022 and 15-AUG-2022.
Follow RTT