Royal Energy Resources, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 13, 2019 at 12:35 pm EST
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Royal Energy Resources, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced total revenue was USD 42.265 million compared to USD 60.590 million a year ago. Operating loss was USD 9.074 million compared to USD 1.018 million a year ago. Net loss was USD 18.810 million compared to USD 1.473 million a year ago. Basic loss per share was USD 1.06 compared to USD 0.09 a year ago. Basic loss per share from continuing operations was USD 0.24 compared to USD 0.03 a year ago. For the nine months, total revenue was USD 140.521 million compared to USD 145.094 million a year ago. Operating loss was USD 12.581 million compared to USD 12.540 million a year ago. Net loss was USD 23.641 million compared to USD 8.635 million a year ago. Basic loss per share was USD 1.34 compared to USD 0.49 a year ago. Basic loss per share from continuing operations was USD 0.41 compared to USD 0.35 a year ago.
Royal Energy Resources, Inc. is an energy company, which focuses on coal and energy related assets and activities, including energy infrastructure investments. The Company has a geographically diverse asset base with coal reserves located in Central Appalachia, Northern Appalachia, the Illinois Basin and the Western Bituminous region. The Company's segments consist of Central Appalachia, which includes surface and underground mines located in Eastern Kentucky and Southern West Virginia; Northern Appalachia, which includes surface and underground mines located in Ohio; Rhino Western, which includes an underground mine located in the Western Bituminous region in Utah; Illinois Basin, which includes an underground mine in western Kentucky, and Other, which includes its ancillary businesses, and oil and natural gas investments. The Company produces and markets coal from surface and underground mines in Kentucky, West Virginia, Ohio and Utah.