Alpha Metallurgical Resources, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 07:35 am EDT
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Alpha Metallurgical Resources, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 741.82 million compared to USD 869.77 million a year ago. Net income was USD 93.81 million compared to USD 252.82 million a year ago. Basic earnings per share from continuing operations was USD 6.88 compared to USD 14.77 a year ago. Diluted earnings per share from continuing operations was USD 6.65 compared to USD 14.27 a year ago.
For the nine months, revenue was USD 2,511.43 million compared to USD 3,278.14 million a year ago. Net income was USD 545.94 million compared to USD 1,227.87 million a year ago. Basic earnings per share from continuing operations was USD 37.87 compared to USD 68.14 a year ago. Diluted earnings per share from continuing operations was USD 36.46 compared to USD 65.31 a year ago.
Alpha Metallurgical Resources, Inc. is a mining company with operations across Virginia and West Virginia. The Company supplies metallurgical products to the steel industry. Its portfolio of mining operations consists of about 15 underground mines, seven surface mines and nine coal preparation plants. It extracts, processes and markets met and thermal coal from deep and surface mines for sale to steel and coke producers, industrial customers, and electric utilities. It conducts mining operations only in the United States with mines in Central Appalachia. The Company operates in one segment: Met, which consists of five active mines and two preparation plants in Virginia, 17 active mines and six preparation plants in West Virginia, as well as expenses associated with certain idled/closed mines. The Met segment operations consist of met coal mines, including Deep Mine 41, Road Fork 52, Black Eagle, and Lynn Branch. It ships met coal to domestic and international steel and coke producers.
ALPHA METALLURGICAL RESOURCES, INC. 
