Alpha Metallurgical Resources, Inc. (AMR) on Friday reported a loss in its first quarter, compared to prior year's profit, hurt by weak revenues and volume. Further, the company reduced its guidance for metallurgical coal sales volume and capex for fiscal 2025.
In the pre-market activity on the NYSE, Alpha shares were losing around 8 percent to trade at $114.00.
In the first quarter, the supplier of metallurgical products for the steel industry reported net loss of $33.9 million, compared to profit of $127.0 million a year ago. Loss per share was $2.60, compared to profit of $9.59 last year.
Two Wall Street analysts, on average, expected the company to report loss of $1.06 per share. Analysts' estimates typically exclude special items.
Total revenues for the quarter declined to $531.96 million from last year's $864.07 million. The Street was looking for revenues of $573.15 million.
Tons of coal sold fell to 3.8 tons from 4.4 tons a year ago.
Further, for fiscal 2025, Alpha now expects total sales volumes of between 14.6 million and 16.0 million tons.
The company reduced shipment guidance for metallurgical coal sales volume range to 13.8 million to 14.8 million tons from the previous estimate of 14.5 to 15.5 million tons.
The company adjusted down range of thermal coal shipment expectations to 0.8 million to 1.2 million tons, down from the prior range of 1.0 million to 1.4 million tons.
The 2025 capex guidance has also been lowered by roughly $27 million at the midpoint to $130 million to $150 million from the prior range of $152 million to $182 million.
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