Alpha Metallurgical Posts Q3 Loss of $0.73 a Share
AMR sits 19% above its 52-week low of $133.64.
Summary
Alpha Metallurgical reported a third-quarter loss of $0.73 per share, a loss of $9.3 million, extending the string of quarterly losses after Q2's $0.96 per share shortfall. Preliminary third-quarter results reflect stronger volumes than in the first half but continued cost pressure, with total adjusted EBITDA of $29.4 million. The company has already cut full-year shipment guidance once this year, so a second consecutive quarterly loss keeps the pressure on the met coal outlook. Insiders have been buying heavily into the weakness — director Kenneth Courtis made five open-market purchases totaling roughly $10.5 million between August 21 and September 8, and Michael Gorzynski's entities added $2.1 million. The loss lands against a $1.2 billion share repurchase program that management has been leaning on to support the stock. Watch for the full 10-Q and any updated shipment or cost guidance accompanying the release.
At the time of this announcement, AMR was trading at $159.39 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $2B. The 52-week trading range was $133.64 to $253.82. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.