Arch Resources, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2021
April 22, 2021 at 06:45 am EDT
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Arch Resources, Inc. announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced sales was USD 357.543 million compared to USD 405.232 million a year ago. Operating loss was USD 337,000 compared to USD 23.891 million a year ago. Net loss was USD 6.042 million compared to USD 25.299 million a year ago.
Arch Resources, Inc. is a coal producer and a producer of metallurgical coal. The Company sells substantially all of its coal to steel mills, power plants and industrial facilities. It is a producer of metallurgical products for the global steel industry, and the supplier of High-Vol A metallurgical coal globally. The Company has two distinct lines of business, metallurgical and thermal, and may include a number of mine complexes. It operates about seven active mines located in three of the major coal-producing regions of the United States. Leer and Leer South longwall mines anchor its large-scale, first quartile metallurgical franchise. The Leer and Leer South operations are complemented by the Beckley and Mountain Laurel continuous miner mines, which in aggregate provide it with a full suite of metallurgical products for sale in the global metallurgical market. The Company also operates thermal mines in the Powder River Basin and Colorado that produce thermal coal.