• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    Arch Resources Reports First Quarter 2024 Results

    4/25/24 6:55:00 AM ET
    $ARCH
    Coal Mining
    Energy
    Get the next $ARCH alert in real time by email

    Achieves net income of $56.0 million and adjusted EBITDA of $102.9 million

    Declares a quarterly cash dividend of $20.7 million, or $1.11 per share

    Reduces diluted share count by an incremental 3 percent during the quarter 

    ST. LOUIS, April 25, 2024 /PRNewswire/ -- Arch Resources, Inc. (NYSE:ARCH) today reported net income of $56.0 million, or $2.98 per diluted share, in the first quarter of 2024, compared with net income of $198.1 million, or $10.02 per diluted share, in the prior-year period. Arch had adjusted earnings before interest, taxes, depreciation, depletion, amortization, accretion on asset retirement obligations, and non-operating expenses ("adjusted EBITDA") [1] of $102.9 million in the first quarter of 2024. This compares to $277.3 million of adjusted EBITDA in the first quarter of 2023. Revenues totaled $680.2 million for the three months ended March 31, 2024, versus $869.9 million in the prior-year quarter.

    Arch Resources Logo (PRNewsfoto/Arch Resources, Inc.)

    In the first quarter of 2024, Arch drove forward with its key strategic priorities and objectives, as the company:

    • Generated $128.3 million in cash provided by operating activities and $82.8 million in discretionary cash flow – defined as cash provided by operating activities less capital expenditures – to fuel its significant capital return program
    • Reduced its diluted share count by 3 percent as it retired 315,721 shares via the unwinding of the capped calls associated with the now-retired convertible senior notes and deployed $15.7 million to repurchase an additional 94,701 shares
    • Maintained $319.8 million of cash, cash equivalents and short-term investments and a net cash position of $174.0 million, and
    • Extended its sustainability leadership, with its Leer and Leer South operations sharing the 2024 Governor's Milestones of Safety Award, West Virginia's top safety honor, and Leer South claiming the Greenlands Award, West Virginia's top environmental honor

    "During the quarter, our core metallurgical segment – despite headwinds stemming from a weaker pricing environment, logistical disruptions, and lower productivity rates associated with less favorable geologic conditions – delivered another first-quartile cost performance, achieved a $56 per-ton cash margin and generated substantial discretionary cash flow," said Paul A. Lang, Arch's CEO. "These solid results underscore yet again Arch's durable cash-generating capabilities – as well as the value-creating power of our robust capital return program – across a wide range of market environments. We have now deployed more than $1.3 billion in our capital return program since its relaunch in February 2022, inclusive of the just declared June dividend, and expect that total to grow appreciably in coming quarters, with an emphasis on the ongoing reduction in our share count."

    Operational Update

    "After a solid but less-than-ratable first quarter performance, our core metallurgical portfolio is in the process of transitioning into increasingly favorable geologic conditions, and we expect good momentum through the balance of the year," said John T. Drexler, Arch's president. "We anticipate ongoing improvements in both production levels and unit costs, culminating in a step-up in output at Leer South as we advance into the second longwall district in the fourth quarter of 2024. While our thermal operations experienced an effectively break-even Q1 performance in the face of a rapidly cooling domestic demand environment that drove an estimated 10% quarter-over-quarter decline in U.S. thermal coal production, we are moving quickly to better align production and shipping levels in our thermal segment. We expect those steps to drive a material improvement in cash generation in the year's second half."  

    ________________________________

    1 Adjusted EBITDA is defined and reconciled in the "Reconciliation of Non-GAAP measures" in this release.

     











    Metallurgical











    1Q24





    4Q23





    1Q23



















    Tons sold (in millions)



    2.2





    2.3





    2.2

             Coking



    1.9





    2.0





    2.1

            Thermal



    0.3





    0.3





    0.1

    Coal sales per ton sold



    $149.98





    $169.42





    $204.25

             Coking



    $165.97





    $195.69





    $209.84

            Thermal



    $28.85





    $31.29





    $76.34

    Cash cost per ton sold



    $94.31





    $86.51





    $82.66

    Cash margin per ton



    $55.67





    $82.91





    $121.59



















    Coal sales per ton sold and cash cost per ton sold are defined and reconciled under "Reconciliation of non-GAAP measures."

    Mining complexes included in this segment are Leer, Leer South, Beckley and Mountain Laurel







    Arch's core metallurgical segment contributed adjusted EBITDA of $129.5 million in the first quarter. During January and February, the Curtis Bay Terminal (CBT) in Baltimore experienced weather-related disruptions as well as unplanned maintenance requirements, including a force majeure event, that reduced vessel loadings. Those disruptions were followed by the tragic collapse of the Francis Scott Key Bridge on March 26 that closed the harbor and prevented the movement of two Arch export vessels – totaling 165,000 tons – that were scheduled to sail prior to quarter-end. Based on U.S. Army Corps of Engineers projections, the harbor's main channel is expected to remain closed until the end of May, restricting all large vessel movements from CBT.

    Arch is working closely with the DTA terminal in Newport News, Virginia, in which it owns a 35-percent interest, and with its rail service provider to move as much of its export coking coal volume as possible via that terminal, while also exploring other options. Based on the currently projected timeline for the reopening of the main shipping channel in Baltimore, Arch expects to ship between 1.9 and 2.2 million tons of coking coal to international and domestic customers in Q2, with the precise level dependent in large part on the actual timing of the CBT reopening and the full restoration of the logistics chain. While the Baltimore tragedy will have an impact on its second quarter sales, Arch believes it has the necessary stockpile capacity to avoid any disruptions in production. The company continues to guide to coking coal sales volume of 8.6 to 9.0 million tons for the full year, with the expectation of heavier shipping levels in the second half of 2024.





    Thermal





    1Q24





    4Q23





    1Q23



















    Tons sold (in millions)



    12.8





    15.5





    17.0

    Coal sales per ton sold



    $17.60





    $17.89





    $18.49

    Cash cost per ton sold



    $17.65





    $16.25





    $15.79

    Cash margin per ton



    ($0.05)





    $1.64





    $2.70



















    Coal sales per ton sold and cash cost per ton sold are defined and reconciled under "Reconciliation of non-GAAP measures."

    Mining complexes included in this segment are Black Thunder, Coal Creek and West Elk.







    Arch's thermal segment effectively broke even in the first quarter. Arch's West Elk longwall mine operated efficiently and generated a solid cash margin, while the Powder River Basin assets operated at a loss after entering the year at a stripping rate that significantly exceeded Q1 shipment levels. While the thermal team is still in the process of realigning stripping rates and operational activities with lower demand levels, Arch expects another negative cash contribution from the Power River Basin operations in Q2. However, the company expects to benefit from the first half's excess stripping levels in the year's second half. Since the fourth quarter of 2016, the thermal segment has generated $1.2 billion more in adjusted EBITDA than it has expended in capital. 

    Financial, Liquidity and Capital Return Program Update

    Consistent with its capital return framework – which stipulates the deployment of 100 percent of the company's discretionary cash flow via its capital return program with an emphasis on share buybacks – the board has declared a fixed and variable dividend totaling $20.7 million, or $1.11 per share, which equates to 25 percent of Q1's discretionary cash. This dividend – which includes a fixed component of $0.25 per share and a variable component of $0.86 per share – is payable on June 14, 2024, to stockholders of record on May 31, 2024. The board has directed that the rest of Q1's discretionary cash flow be returned to shareholders via share repurchases.

    Arch ended the quarter with $319.8 million in cash, cash equivalents and short-term investments, which was roughly equivalent to the year-end 2023 total. This compared to $145.8 million in total indebtedness at March 31, for a net cash position of $174.0 million.

    "The centerpiece of our value proposition is the planned return to stockholders of effectively 100 percent of the company's discretionary cash flow over time," Lang said. "With the streamlining of our balance sheet, the emphasis on share repurchases in our capital return formula, and the building of surplus cash for more opportunistic share repurchases in the event of a market pullback, we believe we are in an excellent position to substantially reduce the share count over time, and in doing so drive significant value for stockholders."

    In addition to the 315,721 shares retired in concert with the previously announced unwinding of the capped call instrument, the company deployed $15.7 million during the quarter to repurchase 94,701 shares at an average price of $166.30 per share. In total, Arch has now used common stock and convertible notes repurchases and the unwinding of the capped calls to reduce shares outstanding by 3.5 million shares, or 16 percent, when compared to the level in May 2022.

    Arch has deployed more than $1.3 billion under its capital return program since its relaunch in February 2022 – inclusive of the unwind of the capped call instrument and the just-declared June dividend – including $726.9 million, or $38.53 per share, in dividends and $564.6 million in common stock and convertible notes repurchases and retirements. Since the second quarter of 2017 – and inclusive of the program's first phase – Arch has deployed more than $2.2 billion under its capital return program. As of March 31, 2024, Arch had $202.0 million of remaining authorization under its existing $500 million share repurchase program.

    Sustainability Update

    Arch maintained its exemplary environmental, social and governance performance during the first quarter. Arch's subsidiary operations achieved an aggregate total lost-time incident rate in Q1 of 0.62 incidents per 200,000 employee-hours worked, which was more than three times better than the industry average. On the environmental front, the company again recorded zero environmental violations under SMCRA as well as zero water quality exceedances across all its subsidiary operations for the quarter.

    Arch subsidiaries also garnered some of the industry's highest sustainability awards during Q1.   The state of West Virginia named the Leer and Leer South mines co-recipients of the Governor's Milestones of Safety Award for underground mining, the state's highest safety honor. In addition, the Mountain Laurel mine and the Leer, Leer South and Mountain Laurel preparation plants were each honored with a Mountaineer Guardian Award for safety excellence.

    In the environmental arena, Leer South claimed the Greenlands Award, the state's highest honor for environmental achievement, and Leer and Leer South were honored with additional environmental excellence awards. 

    Market Update

    After declining steadily throughout the first quarter, seaborne coking coal prices appear to have found a base in recent days. At present, Platts is assessing High-Vol A coking coal at $220 per metric ton FOB the U.S. East Coast, versus an average of $285 per metric ton on the same basis during the month of December. Notably, certain demand fundamentals have improved in recent months, with hot metal output for the world excluding China up 2 percent year-to-date, and Chinese imports of seaborne coking coal up strongly as well. Counterbalancing those positive indicators, Australian and U.S. coking coal exports have rebounded modestly year-to-date, albeit to levels significantly below their respective peaks.

    Despite these modest increases in global supply, Arch remains confident in its longstanding thesis that underinvestment and ESG-related constraints will continue to support a constructive long-term supply-demand balance in global coking coal markets. In fact, those dynamics could spur a quick recovery in coking coal markets if global economic conditions show even modest signs of improvement or if major economies implement steel-intensive stimulus spending in the quarters ahead. It's also worth noting that recent price declines may already be taking a toll on high-cost operations. In recent weeks, several small coking coal mines have closed sections or ceased production entirely, according to market intelligence.

    Turning to thermal markets, U.S. fundamentals remain challenged at present, with natural gas trading at sub-$2.00 per million Btu at Henry Hub and utility stockpiles at historically high levels after the mild winter. On a more positive note, the seaborne thermal market has bounced somewhat, with the prompt Newcastle price standing at around $130 per metric ton and API-2 at around $120 per metric ton. Due in part to this improved price environment, U.S. thermal coal exports were up roughly 26% for the first two months of 2024 when compared to 2023.

    Looking Ahead

    "Looking ahead, we are sharply focused on driving continuous improvement in execution across our entire operating platform in support of ongoing, robust, value-generating capital returns for our stockholders," Lang said. "While the Baltimore port closure is likely to constrain Q2 coking coal shipments, we are seeking to capitalize fully on the strategic optionality afforded us by our investment in DTA, where the team has risen to the occasion and is operating at a very efficient level at present. At the same time, we believe we are exceptionally well-positioned – with our highly productive operating portfolio and unmatched workforce – to continue to generate solid levels of discretionary cash flow even in the face of near-term market softness."









    2024









    Tons

    $ per ton

    Sales Volume (in millions of tons)













    Coking







    8.6

    -

    9.0





    Thermal







    50.0

    -

    56.0





    Total







    58.6



    65.0























    Metallurgical (in millions of tons)













    Committed, Priced Coking North American





    1.5



    $157.41

    Committed, Unpriced Coking North American





    -





    Committed, Priced Coking Seaborne







    1.8



    $165.72

    Committed, Unpriced Coking Seaborne





    3.7





    Total Committed Coking









    7.0























    Committed, Priced Thermal Byproduct





    0.4



    $31.05

    Committed, Unpriced Thermal Byproduct





    0.2





    Total Committed Thermal Byproduct







    0.6























    Average Metallurgical Cash Cost









    $87.00 - $92.00



















    Thermal (in millions of tons)















    Committed, Priced











    52.8



    $17.16

    Committed, Unpriced









    0.9





    Total Committed Thermal









    53.7





    Average Thermal Cash Cost











    $16.00 - $17.00





































    Corporate (in $ millions)















    D,D&A







    $165.0

    -

    $175.0





    ARO Accretion 







    $23.0

    -

    $25.0





    S,G&A - Cash







    $72.0

    -

    $76.0





    S,G&A - Non-cash





    $22.0

    -

    $25.0





    Net Interest Income 





    $0.0

    -

    $5.0





    Capital Expenditures





    $160.0

    -

    $170.0





    Cash Tax Payment (%)





    0.0

    -

    5.0





    Income Tax Provision (%)





    14.0

    -

    18.0





    Note: The company is unable to present a quantitative reconciliation of its forward-looking non-GAAP Segment cash cost per ton sold financial measures to the most directly comparable GAAP measures without unreasonable efforts due to the inherent difficulty in forecasting and quantifying with reasonable accuracy significant items required for the reconciliation. The most directly comparable GAAP measure, GAAP cost of sales, is not accessible without unreasonable efforts on a forward-looking basis. The reconciling items include transportation costs, which are a component of GAAP cost of sales. Management is unable to predict without unreasonable efforts transportation costs due to uncertainty as to the end market and FOB point for uncommitted sales volumes and the final shipping point for export shipments. In addition, the impact of hedging activity related to commodity purchases that do not receive hedge accounting and idle and administrative costs that are not included in a reportable segment are additional reconciling items for Segment cash cost per ton sold. Management is unable to predict without unreasonable efforts the impact of hedging activity related to commodity purchases that do not receive hedge accounting due to fluctuations in commodity prices, which are difficult to forecast due to their inherent volatility. These amounts have historically varied and may continue to vary significantly from quarter to quarter and material changes to these items could have a significant effect on our future GAAP results. Idle and administrative costs that are not included in a reportable segment are expected to be between $20 million and $25 million in 2024.

    Arch Resources is a premier producer of high-quality metallurgical products for the global steel industry. The company operates large, modern and highly efficient mines that consistently set the industry standard for both mine safety and environmental stewardship. Arch Resources from time to time utilizes its website – www.archrsc.com – as a channel of distribution for material company information. To learn more about us and our premium metallurgical products, go to www.archrsc.com.

    Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and future plans, and often contain words such as "should," "could," "appears," "estimates," "projects," "targets," "expects," "anticipates," "intends," "may," "plans," "predicts," "believes," "seeks," "strives," "will" or variations of such words or similar words. Actual results or outcomes may vary significantly, and adversely, from those anticipated due to many factors, including: loss of availability, reliability and cost-effectiveness of transportation facilities and fluctuations in transportation costs; operating risks beyond our control, including risks related to mining conditions, mining, processing and plant equipment failures or maintenance problems, weather and natural disasters, the unavailability of raw materials, equipment or other critical supplies, mining accidents, and other inherent risks of coal mining that are beyond our control; inflationary pressures on and availability and price of mining and other industrial supplies; changes in coal prices, which may be caused by numerous factors beyond our control, including changes in the domestic and foreign supply of and demand for coal and the domestic and foreign demand for steel and electricity; volatile economic and market conditions; the effects of foreign and domestic trade policies, actions or disputes on the level of trade among the countries and regions in which we operate, the competitiveness of our exports, or our ability to export; the effects of significant foreign conflicts; the loss of, or significant reduction in, purchases by our largest customers; our relationships with, and other conditions affecting our customers and our ability to collect payments from our customers; risks related to our international growth; competition, both within our industry and with producers of competing energy sources, including the effects from any current or future legislation or regulations designed to support, promote or mandate renewable energy sources; alternative steel production technologies that may reduce demand for our coal; our ability to secure new coal supply arrangements or to renew existing coal supply arrangements; cyber-attacks or other security breaches that disrupt our operations, or that result in the unauthorized release of proprietary, confidential or personally identifiable information; our ability to acquire or develop coal reserves in an economically feasible manner; inaccuracies in our estimates of our coal reserves; defects in title or the loss of a leasehold interest; the availability and cost of surety bonds, including potential collateral requirements; we may not have adequate insurance coverage for some business risks; disruptions in the supply of coal from third parties; decreases in the coal consumption of electric power generators could result in less demand and lower prices for thermal coal; our ability to pay dividends or repurchase shares of our common stock according to our announced intent or at all; the loss of key personnel or the failure to attract additional qualified personnel and the availability of skilled employees and other workforce factors; public health emergencies, such as pandemics or epidemics, could have an adverse effect on our business; existing and future legislation and regulations affecting both our coal mining operations and our customers' coal usage, governmental policies and taxes, including those aimed at reducing emissions of elements such as mercury, sulfur dioxides, nitrogen oxides, particulate matter or greenhouse gases; increased pressure from political and regulatory authorities, along with environmental and climate change activist groups, and lending and investment policies adopted by financial institutions and insurance companies to address concerns about the environmental impacts of coal combustion; increased attention to environmental, social or governance matters ("ESG"); our ability to obtain or renew various permits necessary for our mining operations; risks related to regulatory agencies ordering certain of our mines to be temporarily or permanently closed under certain circumstances; risks related to extensive environmental regulations that impose significant costs on our mining operations and could result in litigation or material liabilities; the accuracy of our estimates of reclamation and other mine closure obligations; the existence of hazardous substances or other environmental contamination on property owned or used by us and risks related to tax legislation and our ability to use net operating losses and certain tax credits; All forward-looking statements in this press release, as well as all other written and oral forward-looking statements attributable to us or persons acting on our behalf, are expressly qualified in their entirety by the cautionary statements contained in this section and elsewhere in this press release. These factors are not necessarily all of the important factors that could cause actual results or outcomes to vary significantly, and adversely, from those anticipated at the time such statements were first made. These risks and uncertainties, as well as other risks of which we are not aware or which we currently do not believe to be material, may cause our actual future results and outcomes to be materially, and adversely, different than those expressed in our forward-looking statements. For these reasons, readers should not place undue reliance on any such forward-looking statements.  These forward-looking statements speak only as of the date on which such statements were made, and we do not undertake, and expressly disclaim, any duty to update our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by the federal securities laws. For a description of some of the risks and uncertainties that may affect our future results, you should see the risk factors described from time to time in the reports we file with the Securities and Exchange Commission.

    Arch Resources, Inc. and Subsidiaries

    Condensed Consolidated Income Statements

    (In thousands, except per share data)



















    Three Months Ended March 31, 





    2024

    2023





    (Unaudited)











    Revenues

    $              680,190

    $              869,931











    Costs, expenses and other operating







    Cost of sales (exclusive of items shown separately below)

    567,723

    571,737



    Depreciation, depletion and amortization

    38,820

    35,479



    Accretion on asset retirement obligations

    5,869

    5,292



    Selling, general and administrative expenses

    25,587

    26,022



    Other operating income, net

    (15,983)

    (5,169)





    622,016

    633,361











    Income from operations

    58,174

    236,570











    Interest expense, net







    Interest expense

    (4,316)

    (4,126)



    Interest and investment income

    6,100

    3,336





    1,784

    (790)











    Income before nonoperating expenses

    59,958

    235,780











    Nonoperating expenses







    Non-service related pension and postretirement benefit (costs) credits

    (286)

    592



    Net loss resulting from early retirement of debt

    -

    (1,126)





    (286)

    (534)











    Income before income taxes

    59,672

    235,246



    Provision for income taxes

    3,719

    37,138











    Net income

    $                55,953

    $              198,108











    Net income per common share







    Basic earnings per share

    $                    3.05

    $                  11.05



    Diluted earnings per share

    $                    2.98

    $                  10.02











    Weighted average shares outstanding







    Basic weighted average shares outstanding

    18,347

    17,924



    Diluted weighted average shares outstanding

    18,775

    19,784











    Dividends declared per common share

    $                    1.65

    $                    3.11











    Adjusted EBITDA (A) 

    $              102,863

    $              277,341



















    (A) Adjusted EBITDA is defined and reconciled under "Reconciliation of Non-GAAP Measures" later in this release.

     

    Arch Resources, Inc. and Subsidiaries

    Condensed Consolidated Balance Sheets

    (In thousands)















    March 31,

    December 31,



    2024

    2023



    (Unaudited)



    Assets





    Current assets





    Cash and cash equivalents

    $              285,531

    $              287,807

    Short-term investments

    34,252

    32,724

    Restricted cash

    1,100

    1,100

    Trade accounts receivable

    224,084

    273,522

    Other receivables

    10,519

    13,700

    Inventories

    243,690

    244,261

    Other current assets

    63,393

    64,653

    Total current assets

    862,569

    917,767







    Property, plant and equipment, net

    1,235,775

    1,228,891







    Other assets





    Deferred income taxes

    120,792

    124,024

    Equity investments

    24,053

    22,815

    Fund for asset retirement obligations

    144,146

    142,266

    Other noncurrent assets

    47,351

    48,410

    Total other assets

    336,342

    337,515

    Total assets

    $          2,434,686

    $          2,484,173







    Liabilities and Stockholders' Equity 





    Current liabilities





    Accounts payable

    $              178,119

    $              205,001

    Accrued expenses and other current liabilities

    113,360

    127,617

    Current maturities of debt

    35,341

    35,343

    Total current liabilities

    326,820

    367,961

    Long-term debt

    107,959

    105,252

    Asset retirement obligations

    260,252

    255,740

    Accrued pension benefits

    861

    878

    Accrued postretirement benefits other than pension

    47,384

    47,494

    Accrued workers' compensation

    155,838

    154,650

    Other noncurrent liabilities

    68,124

    72,742

    Total liabilities 

    967,238

    1,004,717







    Stockholders' equity 





    Common Stock

    308

    306

    Paid-in capital

    754,054

    720,029

    Retained earnings

    1,854,621

    1,830,018

    Treasury stock, at cost

    (1,178,735)

    (1,109,679)

    Accumulated other comprehensive income

    37,200

    38,782

    Total stockholders' equity 

    1,467,448

    1,479,456

    Total liabilities and stockholders' equity 

    $          2,434,686

    $          2,484,173







     

    Arch Resources, Inc. and Subsidiaries

    Condensed Consolidated Statements of Cash Flows

    (In thousands)















    Three Months Ended March 31,



    2024

    2023



    (Unaudited)

    Operating activities





    Net income

    $                55,953

    $              198,108

    Adjustments to reconcile to cash from operating activities:





    Depreciation, depletion and amortization

    38,820

    35,479

    Accretion on asset retirement obligations

    5,869

    5,292

    Deferred income taxes

    3,660

    35,548

    Employee stock-based compensation expense

    5,588

    6,767

    Amortization relating to financing activities

    658

    450

    Gain on disposals and divestitures, net

    (24)

    (279)

    Reclamation work completed

    (1,355)

    (3,887)

    Contribution to fund asset retirement obligations

    (1,881)

    (1,141)

    Changes in:





    Receivables

    52,618

    (57,968)

    Inventories

    571

    (48,140)

    Accounts payable, accrued expenses and other current liabilities

    (33,481)

    (63,508)

    Income taxes, net

    30

    1,491

    Other

    1,240

    17,909

    Cash provided by operating activities

    128,266

    126,121







    Investing activities





    Capital expenditures

    (45,446)

    (30,541)

    Minimum royalty payments

    (50)

    (113)

    Proceeds from disposals and divestitures

    90

    343

    Purchases of short-term investments

    (11,332)

    (2,930)

    Proceeds from sales of short-term investments

    9,867

    8,000

    Investments in and advances to affiliates, net

    (4,203)

    (4,329)

    Cash used in investing activities

    (51,074)

    (29,570)







    Financing activities





    Proceeds from issuance of term loan due 2025

    20,000

    -

    Payments on term loan due 2024

    (3,502)

    (750)

    Payments on convertible debt

    -

    (58,430)

    Net payments on other debt

    (12,796)

    (12,647)

    Debt financing costs

    (1,500)

    -

    Purchase of treasury stock

    (13,749)

    (20,806)

    Dividends paid

    (43,662)

    (66,902)

    Payments for taxes related to net share settlement of equity awards

    (24,259)

    (27,055)

    Proceeds from warrants exercised

    -

    43,719

    Cash used in financing activities

    (79,468)

    (142,871)







    Decrease in cash and cash equivalents, including restricted cash

    (2,276)

    (46,320)

    Cash and cash equivalents, including restricted cash, beginning of period

    288,907

    237,159







    Cash and cash equivalents, including restricted cash, end of period 

    $              286,631

    $              190,839







    Cash and cash equivalents, including restricted cash, end of period





    Cash and cash equivalents

    $              285,531

    $              189,739

    Restricted cash

    1,100

    1,100









    $              286,631

    $              190,839

     

    Arch Resources, Inc. and Subsidiaries

    Schedule of Consolidated Debt

    (In thousands)













    March 31, 

    December 31,





    2024

    2023





    (Unaudited)











    Term loan due 2025 ($20.0 million face value)



    $          20,000

    $                   -

    Term loan due 2024 ($0.0 million face value)



    -

    3,502

    Tax exempt bonds ($98.1 million face value)



    98,075

    98,075

    Other



    27,733

    40,529

    Debt issuance costs



    (2,508)

    (1,511)





    143,300

    140,595

    Less: current maturities of debt



    35,341

    35,343

    Long-term debt



    $        107,959

    $        105,252









    Calculation of net (cash) debt







    Total debt (excluding debt issuance costs)



    $        145,808

    $        142,106

    Less liquid assets:







    Cash and cash equivalents



    285,531

    287,807

    Short term investments



    34,252

    32,724





    319,783

    320,531

    Net (cash) debt



    $       (173,975)

    $       (178,425)

     

    Arch Resources, Inc. and Subsidiaries

    Operational Performance

    (In millions, except per ton data)































    Three Months Ended

    March 31, 2024

    Three Months Ended

    December 31, 2023

    Three Months Ended

    March 31, 2023



    (Unaudited)

    (Unaudited)

    (Unaudited)

    Metallurgical













    Tons Sold

    2.2



    2.3



    2.2

















    Segment Sales 

    $      322.8

    $    149.98

    $      395.3

    $    169.42

    $      440.1

    $    204.25

    Segment Cash Cost of Sales 

    203.0

    94.31

    201.9

    86.51

    178.1

    82.66

    Segment Cash Margin

    119.8

    55.67

    193.5

    82.91

    262.0

    121.59















    Thermal













    Tons Sold

    12.8



    15.5



    17.0

















    Segment Sales 

    $      225.6

    $      17.60

    $      277.9

    $      17.89

    $      314.7

    $      18.49

    Segment Cash Cost of Sales 

    226.3

    17.65

    252.4

    16.25

    268.8

    15.79

    Segment Cash Margin 

    (0.7)

    (0.05)

    25.5

    1.64

    45.9

    2.70















    Total Segment Cash Margin 

    $      119.1



    $      219.0



    $      307.9

















    Selling, general and administrative expenses 

    (25.6)



    (25.8)



    (26.0)



    Other

    9.4



    (13.2)



    (4.6)

















    Adjusted EBITDA

    $      102.9



    $      180.0



    $      277.3



     

    Arch Resources, Inc. and Subsidiaries

    Reconciliation of NON-GAAP Measures

    (In thousands, except per ton data)











    Included in the accompanying release, we have disclosed certain non-GAAP measures as defined by Regulation G.

    The following reconciles these items to the most directly comparable GAAP measure.











    Non-GAAP Segment coal sales per ton sold   











    Non-GAAP Segment coal sales per ton sold is calculated as segment coal sales revenues divided by segment tons sold. Segment coal sales revenues are adjusted

    for transportation costs, and may be adjusted for other items that, due to generally accepted accounting principles, are classified in "other income" on the consolidated

    Income Statements, but relate to price protection on the sale of coal. Segment coal sales per ton sold is not a measure of financial performance in accordance with

    generally accepted accounting principles. We believe segment coal sales per ton sold provides useful information to investors as it better reflects our revenue for the

    quality of coal sold and our operating results by including all income from coal sales. The adjustments made to arrive at these measures are significant in understanding

    and assessing our financial condition. Therefore, segment coal sales revenues should not be considered in isolation, nor as an alternative to coal sales revenues under

    generally accepted accounting principles.











    Quarter ended March 31, 2024

    Metallurgical

    Thermal

    All Other

    Consolidated

    (In thousands)  









    GAAP Revenues in the Condensed Consolidated Income Statements  

    $                 417,065

    $                 263,125

    $                            -

    $                 680,190

    Less: Adjustments to reconcile to Non-GAAP Segment coal sales revenue   









    Transportation costs  

    94,261

    37,486

    -

    131,747

    Non-GAAP Segment coal sales revenues  

    $                 322,804

    $                 225,639

    $                            -

    $                 548,443

    Tons sold  

    2,152

    12,821





    Coal sales per ton sold  

    $                   149.98

    $                      17.60

























    Quarter ended December 31, 2023

    Metallurgical

    Thermal

    All Other

    Consolidated

    (In thousands)  









    GAAP Revenues in the Condensed Consolidated Income Statements  

    $                 471,569

    $                 302,448

    $                            -

    $                 774,017

    Less: Adjustments to reconcile to Non-GAAP Segment coal sales revenue   









    Transportation costs  

    76,241

    24,533

    -

    100,774

    Non-GAAP Segment coal sales revenues  

    $                 395,328

    $                 277,915

    $                            -

    $                 673,243

    Tons sold  

    2,333

    15,536





    Coal sales per ton sold  

    $                   169.42

    $                      17.89

























    Quarter ended March 31, 2023

    Metallurgical

    Thermal

    All Other

    Consolidated

    (In thousands)  









    GAAP Revenues in the Condensed Consolidated Income Statements  

    $                 536,172

    $                 333,759

    $                            -

    $                 869,931

    Less: Adjustments to reconcile to Non-GAAP Segment coal sales revenue   









    Coal risk management derivative settlements classified in "other income"  

    -

    (2,668)

    -

    (2,668)

    Transportation costs  

    96,054

    21,721

    -

    117,775

    Non-GAAP Segment coal sales revenues  

    $                 440,118

    $                 314,706

    $                            -

    $                 754,824

    Tons sold  

    2,155

    17,021





    Coal sales per ton sold  

    $                   204.25

    $                      18.49















     

    Arch Resources, Inc. and Subsidiaries

    Reconciliation of NON-GAAP Measures

    (In thousands, except per ton data)











    Non-GAAP Segment cash cost per ton sold











    Non-GAAP Segment cash cost per ton sold is calculated as segment cash cost of coal sales divided by segment tons sold. Segment cash cost of coal sales is adjusted

    for transportation costs, and may be adjusted for other items that, due to generally accepted accounting principles, are classified in "other income" on the consolidated

    Income Statements, but relate directly to the costs incurred to produce coal. Segment cash cost per ton sold is not a measure of financial performance in accordance with

    generally accepted accounting principles. We believe segment cash cost per ton sold better reflects our controllable costs and our operating results by including all costs

    incurred to produce coal. The adjustments made to arrive at these measures are significant in understanding and assessing our financial condition. Therefore, segment

    cash cost of coal sales should not be considered in isolation, nor as an alternative to cost of sales under generally accepted accounting principles.











    Quarter ended March 31, 2024

    Metallurgical

    Thermal

    All Other

    Consolidated

    (In thousands)









    GAAP Cost of sales in the Condensed Consolidated Income Statements

    $                 297,251

    $                 262,928

    $                      7,544

    $                 567,723

    Less: Adjustments to reconcile to Non-GAAP Segment cash cost of coal sales 









    Diesel fuel risk management derivative settlements classified in "other income"

    -

    (900)

    -

    (900)

    Transportation costs

    94,261

    37,486

    -

    131,747

    Cost of coal sales from idled or otherwise disposed operations 

    -

    -

    4,289

    4,289

    Other (operating overhead, certain actuarial, etc.)

    -

    -

    3,255

    3,255

    Non-GAAP Segment cash cost of coal sales

    $                 202,990

    $                 226,342

    $                            -

    $                 429,332

    Tons sold

    2,152

    12,821





    Cash cost per ton sold

    $                      94.31

    $                      17.65

























    Quarter ended December 31, 2023

    Metallurgical

    Thermal

    All Other

    Consolidated

    (In thousands)









    GAAP Cost of sales in the Condensed Consolidated Income Statements

    $                 278,100

    $                 276,738

    $                   12,365

    $                 567,203

    Less: Adjustments to reconcile to Non-GAAP Segment cash cost of coal sales 









    Diesel fuel risk management derivative settlements classified in "other income"

    -

    (218)

    -

    (218)

    Transportation costs

    76,241

    24,533

    -

    100,774

    Cost of coal sales from idled or otherwise disposed operations 

    -

    -

    9,805

    9,805

    Other (operating overhead, certain actuarial, etc.)

    -

    -

    2,560

    2,560

    Non-GAAP Segment cash cost of coal sales

    $                 201,859

    $                 252,423

    $                            -

    $                 454,282

    Tons sold

    2,333

    15,536





    Cash cost per ton sold

    $                      86.51

    $                      16.25

























    Quarter ended March 31, 2023

    Metallurgical

    Thermal

    All Other

    Consolidated

    (In thousands)









    GAAP Cost of sales in the Condensed Consolidated Income Statements

    $                 274,171

    $                 289,506

    $                      8,060

    $                 571,737

    Less: Adjustments to reconcile to Non-GAAP Segment cash cost of coal sales 









    Diesel fuel risk management derivative settlements classified in "other income"

    -

    (1,008)

    -

    (1,008)

    Transportation costs

    96,054

    21,721

    -

    117,775

    Cost of coal sales from idled or otherwise disposed operations 

    -

    -

    5,178

    5,178

    Other (operating overhead, certain actuarial, etc.)

    -

    -

    2,882

    2,882

    Non-GAAP Segment cash cost of coal sales

    $                 178,117

    $                 268,793

    $                            -

    $                 446,910

    Tons sold

    2,155

    17,021





    Cash cost per ton sold

    $                      82.66

    $                      15.79





     

    Arch Resources, Inc. and Subsidiaries

    Reconciliation of Non-GAAP Measures

    (In thousands)









    Adjusted EBITDA















    Adjusted EBITDA is defined as net income attributable to the Company before the effect of net interest expense, income taxes, depreciation, depletion and amortization,

    accretion on asset retirement obligations and nonoperating expenses. Adjusted EBITDA may also be adjusted for items that may not reflect the trend of future results by

    excluding transactions that are not indicative of the Company's core operating performance.



    Adjusted EBITDA is not a measure of financial performance in accordance with generally accepted accounting principles, and items excluded from Adjusted EBITDA are

    significant in understanding and assessing our financial condition. Therefore, Adjusted EBITDA should not be considered in isolation, nor as an alternative to net income,

    income from operations, cash flows from operations or as a measure of our profitability, liquidity or performance under generally accepted accounting principles. The

    Company uses adjusted EBITDA to measure the operating performance of its segments and allocate resources to the segments. Furthermore, analogous measures are

    used by industry analysts and investors to evaluate our operating performance. Investors should be aware that our presentation of Adjusted EBITDA may not be comparable

    to similarly titled measures used by other companies. The table below shows how we calculate Adjusted EBITDA.











    Three Months Ended March 31, 





    2024

    2023





    (Unaudited)



    Net income

    $                    55,953

    $                  198,108



    Provision for income taxes

    3,719

    37,138



    Interest expense, net

    (1,784)

    790



    Depreciation, depletion and amortization

    38,820

    35,479



    Accretion on asset retirement obligations

    5,869

    5,292



    Non-service related pension and postretirement benefit (credits) costs

    286

    (592)



    Net loss resulting from early retirement of debt

    -

    1,126











    Adjusted EBITDA

    $                  102,863

    $                  277,341



    EBITDA from idled or otherwise disposed operations

    3,697

    4,032



    Selling, general and administrative expenses

    25,587

    26,022



    Other

    (1,681)

    1,917











    Segment Adjusted EBITDA from coal operations 

    $                  130,466

    $                  309,312











    Segment Adjusted EBITDA 







    Metallurgical

    129,536

    263,057



    Thermal

    930

    46,255











    Total Segment Adjusted EBITDA

    $                  130,466

    $                  309,312



















    Discretionary cash flow









    Three Months Ended March 31, 





    2024

    2023





    (Unaudited)



    Cash flow from operating activities

    $                  128,266

    $                  126,121



    Less: Capital expenditures

    (45,446)

    (30,541)



    Discretionary cash flow

    $                    82,820

    $                    95,580











     

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/arch-resources-reports-first-quarter-2024-results-302126855.html

    SOURCE Arch Resources, Inc.

    Get the next $ARCH alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $ARCH

    DatePrice TargetRatingAnalyst
    1/6/2025$165.00 → $150.00Neutral → Overweight
    Piper Sandler
    11/13/2024Buy → Hold
    Jefferies
    4/18/2024$185.00 → $170.00Buy → Neutral
    Citigroup
    4/10/2024$180.00 → $165.00Outperform → Market Perform
    BMO Capital Markets
    6/7/2022$160.00 → $225.00Hold → Buy
    Jefferies
    3/9/2022$130.00 → $150.00Hold
    Jefferies
    10/4/2021$87.00 → $120.00Buy
    B. Riley Securities
    9/29/2021$62.00 → $110.00Neutral → Buy
    Citigroup
    More analyst ratings

    $ARCH
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Butcher Pamela R bought $33,000 worth of shares (200 units at $165.00) (SEC Form 4)

      4 - ARCH RESOURCES, INC. (0001037676) (Issuer)

      3/13/24 2:33:19 PM ET
      $ARCH
      Coal Mining
      Energy

    $ARCH
    SEC Filings

    See more
    • SEC Form 15-12G filed by Arch Resources Inc.

      15-12G - ARCH RESOURCES, INC. (0001037676) (Filer)

      1/24/25 4:06:07 PM ET
      $ARCH
      Coal Mining
      Energy
    • SEC Form S-8 POS filed by Arch Resources Inc.

      S-8 POS - ARCH RESOURCES, INC. (0001037676) (Filer)

      1/15/25 5:13:13 PM ET
      $ARCH
      Coal Mining
      Energy
    • SEC Form S-8 POS filed by Arch Resources Inc.

      S-8 POS - ARCH RESOURCES, INC. (0001037676) (Filer)

      1/15/25 5:12:42 PM ET
      $ARCH
      Coal Mining
      Energy

    $ARCH
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Koeppel Holly K returned 2,050 shares to the company, closing all direct ownership in the company (SEC Form 4)

      4 - ARCH RESOURCES, INC. (0001037676) (Issuer)

      1/14/25 3:11:13 PM ET
      $ARCH
      Coal Mining
      Energy
    • Director Kriegshauser Patrick A returned 2,640 shares to the company, closing all direct ownership in the company (SEC Form 4)

      4 - ARCH RESOURCES, INC. (0001037676) (Issuer)

      1/14/25 2:58:49 PM ET
      $ARCH
      Coal Mining
      Energy
    • Director Navarre Richard A returned 874 shares to the company, closing all direct ownership in the company (SEC Form 4)

      4 - ARCH RESOURCES, INC. (0001037676) (Issuer)

      1/14/25 2:55:12 PM ET
      $ARCH
      Coal Mining
      Energy

    $ARCH
    Leadership Updates

    Live Leadership Updates

    See more
    • Maplebear Set to Join S&P MidCap 400; Enovis to Join S&P SmallCap 600

      NEW YORK, Jan. 7, 2025 /PRNewswire/ -- Maplebear Inc. (NASD: CART) will replace Enovis Corp. (NYSE:ENOV) in the S&P MidCap 400, and Enovis will replace Arch Resources Inc. (NYSE:ARCH) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, January 14. S&P SmallCap 600 constituent CONSOL Energy Inc. (NYSE:CEIX) is acquiring Arch Resources in a deal expected to be completed soon, pending final closing conditions. Following completion of the merger, CONSOL Energy will be renamed Core Natural Resources Inc., and its ticker will change to CNR. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index

      1/7/25 6:19:00 PM ET
      $ARCH
      $CART
      $CEIX
      $ENOV
      Coal Mining
      Energy
      Business Services
      Consumer Discretionary
    • Industry Veteran George J. Schuller Jr. Joins Arch Resources as Senior Vice President and Chief Operating Officer

      ST. LOUIS, March 19, 2024 /PRNewswire/ -- Arch Resources, Inc. (NYSE:ARCH) today announced that George J. Schuller Jr., a highly regarded mining industry executive with decades of senior operational leadership experience, has joined the company as senior vice president and chief operating officer, effective immediately.  "We are extremely pleased that George has agreed to join the Arch team in this pivotal capacity and view him as a perfect fit with our sustainability-focused and results-driven culture," said John T. Drexler, Arch's president. "George has decades of leadership

      3/19/24 8:00:00 AM ET
      $ARCH
      Coal Mining
      Energy
    • Arch Resources Announces Retirement of 315,721 Shares via the Termination and Unwinding of Capped Call Transactions

      Represents a reduction of nearly 2% of the company's outstanding share count Increases total net reduction in share count to 6.4 million shares, or 26% of shares outstanding, since May 2017 ST. LOUIS, March 6, 2024 /PRNewswire/ -- Arch Resources, Inc. (NYSE:ARCH) today announced that it had retired 315,721 of its outstanding shares via the unwinding of capped calls associated with its now-retired convertible senior notes. With the completion of the cashless transaction, Arch's diluted share count declined from 18.9 million shares to 18.6 million shares outstanding.  "With the

      3/6/24 7:59:00 AM ET
      $ARCH
      Coal Mining
      Energy

    $ARCH
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G filed by Arch Resources Inc.

      SC 13G - ARCH RESOURCES, INC. (0001037676) (Subject)

      10/31/24 11:55:00 AM ET
      $ARCH
      Coal Mining
      Energy
    • SEC Form SC 13G filed by Arch Resources Inc.

      SC 13G - ARCH RESOURCES, INC. (0001037676) (Subject)

      10/16/24 12:03:58 PM ET
      $ARCH
      Coal Mining
      Energy
    • SEC Form SC 13G/A filed by Arch Resources Inc. (Amendment)

      SC 13G/A - ARCH RESOURCES, INC. (0001037676) (Subject)

      2/13/24 4:59:02 PM ET
      $ARCH
      Coal Mining
      Energy

    $ARCH
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Arch Resources and CONSOL Energy Announce Stockholder Approvals in Respect of Pending Merger

      ST. LOUIS and CANONSBURG, Pa., Jan. 9, 2025 /PRNewswire/ -- Arch Resources, Inc. ("Arch") (NYSE:ARCH) and CONSOL Energy Inc. ("CONSOL") (NYSE:CEIX) today announced that both companies' stockholders voted to approve all proposals in relation to the pending combination of CONSOL and Arch. Arch and CONSOL will both file the final certified voting results for their respective special meetings on a Form 8-K with the U.S. Securities and Exchange Commission. Approval by both companies' stockholders is one of the conditions to the closing of the pending combination. The combination is expected to be completed on January 14, 2025, subject to the satisfaction or waiver of the remaining customary closi

      1/9/25 10:00:00 AM ET
      $ARCH
      $CEIX
      $CNX
      Coal Mining
      Energy
      Oil & Gas Production
    • Maplebear Set to Join S&P MidCap 400; Enovis to Join S&P SmallCap 600

      NEW YORK, Jan. 7, 2025 /PRNewswire/ -- Maplebear Inc. (NASD: CART) will replace Enovis Corp. (NYSE:ENOV) in the S&P MidCap 400, and Enovis will replace Arch Resources Inc. (NYSE:ARCH) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, January 14. S&P SmallCap 600 constituent CONSOL Energy Inc. (NYSE:CEIX) is acquiring Arch Resources in a deal expected to be completed soon, pending final closing conditions. Following completion of the merger, CONSOL Energy will be renamed Core Natural Resources Inc., and its ticker will change to CNR. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index

      1/7/25 6:19:00 PM ET
      $ARCH
      $CART
      $CEIX
      $ENOV
      Coal Mining
      Energy
      Business Services
      Consumer Discretionary
    • Arch Resources Reports Third Quarter 2024 Results

      Achieves milestone in pending merger with CONSOL Energy with the October expiration of HSR waiting periodReceives all necessary international approvals to complete the mergerManages through extended outage of CBT shiploader to ship 2.1 million tons of coking coalDeclares fixed quarterly cash dividend of $0.25 per share payable on November 26  ST. LOUIS, Nov. 5, 2024 /PRNewswire/ -- Arch Resources, Inc. (NYSE:ARCH) ("Arch" or the "company") today reported a net loss of $6.2 million, or $0.34 per diluted share, in the third quarter of 2024, compared with net income of $73.7 million, or $3.91 per diluted share, in the prior-year period. Arch had adjusted earnings before interest, taxes, depreci

      11/5/24 6:55:00 AM ET
      $ARCH
      Coal Mining
      Energy

    $ARCH
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Arch Resources upgraded by Piper Sandler with a new price target

      Piper Sandler upgraded Arch Resources from Neutral to Overweight and set a new price target of $150.00 from $165.00 previously

      1/6/25 7:39:43 AM ET
      $ARCH
      Coal Mining
      Energy
    • Arch Resources downgraded by Jefferies

      Jefferies downgraded Arch Resources from Buy to Hold

      11/13/24 9:30:54 AM ET
      $ARCH
      Coal Mining
      Energy
    • Arch Resources downgraded by Citigroup with a new price target

      Citigroup downgraded Arch Resources from Buy to Neutral and set a new price target of $170.00 from $185.00 previously

      4/18/24 7:25:27 AM ET
      $ARCH
      Coal Mining
      Energy

    $ARCH
    Financials

    Live finance-specific insights

    See more
    • Arch Resources Reports Third Quarter 2024 Results

      Achieves milestone in pending merger with CONSOL Energy with the October expiration of HSR waiting periodReceives all necessary international approvals to complete the mergerManages through extended outage of CBT shiploader to ship 2.1 million tons of coking coalDeclares fixed quarterly cash dividend of $0.25 per share payable on November 26  ST. LOUIS, Nov. 5, 2024 /PRNewswire/ -- Arch Resources, Inc. (NYSE:ARCH) ("Arch" or the "company") today reported a net loss of $6.2 million, or $0.34 per diluted share, in the third quarter of 2024, compared with net income of $73.7 million, or $3.91 per diluted share, in the prior-year period. Arch had adjusted earnings before interest, taxes, depreci

      11/5/24 6:55:00 AM ET
      $ARCH
      Coal Mining
      Energy
    • Arch Resources to Announce Third Quarter 2024 Results on November 5

      ST. LOUIS, Oct. 23, 2024 /PRNewswire/ -- Arch Resources, Inc. (NYSE:ARCH) will discuss its third quarter 2024 financial results in an investor conference call on Thursday, November 5, 2024 at 11:00 a.m. Eastern time. Interested participants may access the conference call by dialing 866-360-3591 approximately five to 10 minutes prior to the start time. For participants calling from an overseas location, please dial +1 412-542-4108. No passcode is needed. The call will also be webcast and will be accessible via the "investor" section of the Arch website at http://investor.archrs

      10/23/24 7:00:00 AM ET
      $ARCH
      Coal Mining
      Energy
    • Arch Resources and CONSOL Energy to Combine in All-Stock Merger of Equals to Create Core Natural Resources, a Premier North American Natural Resource Company Focused on Global Markets

      Brings Together Two Best-in-Sector Operating Platforms with a World-Class Portfolio of High-Quality, Low-Cost, Long-Lived Longwall Coal Mining Assets and Strong Distribution Networks Creates Diversified Coal Producer Serving Global Steel, Industrial, and Power Generation Customers with ~12 Mtpa of Metallurgical Grade Coals and More than 25 Mtpa of High Calorific Value Thermal Coal Creates a Leading North American Coal Export Business with ~25 Mtpa of Export Capacity via Ownership Interests in Two East Coast Terminals as well as Strategic Access to West Coast and Gulf of Mexico Ports Expected to Generate Substantial Free Cash Flow to Fuel Robust Capital Returns to Core Natural Resources' Sto

      8/21/24 7:00:00 AM ET
      $ARCH
      $CEIX
      Coal Mining
      Energy