Arch Resources, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
July 27, 2021 at 06:45 am EDT
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Arch Resources, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced sales was USD 450.389 million compared to USD 319.521 million a year ago. Operating income was USD 33.205 million compared to operating loss of USD 45.286 million a year ago. Net income was USD 27.866 million compared to net loss of USD 49.324 million a year ago. For the half year, sales was USD 807.932 million compared to USD 724.753 million a year ago. Operating income was USD 32.868 million compared to operating loss of USD 69.177 million a year ago. Net income was USD 21.824 million compared to net loss of USD 74.623 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.