Financial Data and Key Metrics Changes - Adjusted EBITDA for Q2 2025 was $46.1 million, significantly up from $5.7 million in Q1 2025 [10] - Total tons shipped in Q2 2025 were 3.9 million, an increase from 3.8 million tons in Q1 2025 [10] - Cost of coal sales decreased to $100.06 per ton in Q2 from $110.34 per ton in Q1, marking the best cost performance since 2021 [11][18] - Total liquidity at the end of Q2 2025 was $556.9 million, up from $485.8 million at the end of Q1 2025 [12][8] Business Line Data and Key Metrics Changes - Metallurgical segment realizations increased to an average of $119.43 per ton in Q2 from $118.61 in Q1 [10] - Realizations for metallurgical sales in Q2 were a total weighted average of $122.84 per ton, up from $122.08 per ton in Q1 [11] - SG&A expenses decreased to $11.9 million in Q2 from $12.6 million in Q1 [11] Market Data and Key Metrics Changes - U.S. East Coast High Vol A and High Vol B pricing mechanisms reached multi-year lows, with High Vol A falling from $168 per ton to $161 per ton [7][23] - The Australian premium low vol index increased from $169 per metric ton on April 1 to $173.5 per metric ton on June 30 [22] - The U.S. East Coast Low Vol Index rose from $174 per metric ton in April to $175 per metric ton in June [22] Company Strategy and Development Direction - The company is committed to fine-tuning guidance as it gains a better understanding of market conditions for the remainder of 2025 [6] - A buyback program has been restarted on an opportunistic basis, reflecting a commitment to shareholder returns [9] - The company is developing the Kingston Wildcat mine, with expectations of first coal production and shipping late this year [18] Management's Comments on Operating Environment and Future Outlook - Management noted challenges in metallurgical coal markets due to weak steel demand and global economic uncertainty [6][20] - The company is focused on strengthening its balance sheet and liquidity position to capitalize on future opportunities [8] - Management expressed cautious optimism about maintaining cost improvements and operational efficiencies [30] Other Important Information - The passage of the One Big Beautiful Bill Act allows metallurgical coal produced between 2026 and 2029 to be eligible for a refundable tax credit, potentially providing a cash benefit of $30 million to $50 million annually [14] - The company is closely monitoring federal legislation related to metallurgical coal's designation as a critical mineral [13] Q&A Session Summary Question: Can you walk us through where the savings came from? - Management indicated that savings were roughly 50% from productivity improvements and 50% from actual spending reductions, with a 10% increase in tons per man hour contributing significantly [30][31] Question: How much further improvement could we see in 2026? - Management was cautious about predicting costs for 2026 but acknowledged the possibility of costs dipping below $100 per ton [34] Question: How are you approaching domestic contracting? - The company emphasized the importance of sustaining business in 2026 with pricing that works over a twelve-month term, rather than focusing solely on spot prices [36] Question: What met price are you assuming in the back half of the year? - Management indicated they are holding flat with current prices, as there has not been much variation from January to now [43] Question: How do you think recent trade tensions could impact your business? - Management reported no negative feedback from customers in India and Brazil, indicating business as usual [45] Question: How many domestic tons do you have contracted for 2025? - The company expects to ship around 3.5 million tons domestically in 2025, with limited spot activity this year [46] Question: What are the expected expenditures on the DTA project? - Management confirmed that spending would remain around $25 million per year, with completion expected around 2028 [50] Question: How might the Union Pacific and Norfolk Southern merger impact your business? - Management expressed confidence in their strong relationship with Norfolk Southern and anticipated minimal impact from the merger [52][53]

The list of factors identified above is not exhaustive. We caution readers not to place undue reliance on any forward looking statements, which are based on information currently available to us and speak only as of the dates on which they are made. When considering these forward-looking statements, you should keep in mind the cautionary statements in this presentation. We do not undertake any responsibility to publicly revise these forward-looking statements to take into account events or circumstances tha ...

Alpha Metallurgical (AMR) came out with a quarterly loss of $0.38 per share versus the Zacks Consensus Estimate of a loss of $2.38. This compares to earnings of $4.49 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +84.03%. A quarter ago, it was expected that this company would post a loss of $1.53 per share when it actually produced a loss of $2.6, delivering a surprise of -69.93%.Over the last four quarters, the company has ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38735 ALPHA METALLURGICAL RESOURCES, INC. (Exact name of registrant as specified in its charter) Delaware 81-3015061 (State or o ...

FOR IMMEDIATE RELEASE Alpha Announces Second Quarter 2025 Financial Results BRISTOL, Tenn., August 8, 2025 - Alpha Metallurgical Resources, Inc. (NYSE: AMR), a leading U.S. supplier of metallurgical products for the steel industry, today reported financial results for the second quarter ending June 30, 2025. | | (millions, except per share) | | | | --- | --- | --- | --- | | | Three months ended | | | | | June 30, 2025 | Mar. 31, 2025 | June 30, 2024 | | Net (loss) income | ($5.0) | ($33.9) | $58.9 | | Net ( ...

Reports second quarter net loss of $5.0 million Posts Adjusted EBITDA of $46.1 million for the quarter Achieves total liquidity of $556.9 million as of June 30 Accomplishes best quarterly cost of coal sales performance since 2021; lowers 2025 cost of coal sales guidance range to $101 per ton to $107 per ton, down from $103 per ton to $110 per ton Reduces SG&A guidance to $48 million to $54 million, down from prior range of $53 million to $59 million Increases net cash interest income guidance to $6 milli ...

Key Takeaways Coal stocks losing money as competition from China heats up.Alpha Metallurgical Coal has rallied while profits have rolled over. Just because you’re in a hot industry doesn’t mean your stock is a buy. And just because you used to crush earnings doesn’t mean you will continue doing so. Sometimes, the market sniffs out weakness before the numbers show up, and right now, Alpha Metallurgical Resources (AMR) is giving off that distinct whiff of vulnerability and it’s why I’m naming it today’s Bear ...

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q1 2025 was $5.7 million, down from $53 million in Q4 2024 [11] - Tons shipped in Q1 2025 were 3.8 million, a decrease from 4.1 million tons in Q4 2024 [11] - Average realization for metallurgical coal sales in Q1 was $122.08 per ton, down from $132.63 per ton in Q4 [12] - Cost of coal sales for the metallurgical segment increased to $110.34 per ton in Q1, up from $108.82 per ton in Q4 [12] - Total liquidity as of March 31, 2025, was $485.8 million, down from $519.4 million at the end of Q4 2024 [13] Business Line Data and Key Metrics Changes - Metallurgical coal segment realizations decreased quarter over quarter, with export met tons priced against Atlantic indices realizing $119.39 per ton in Q1, down from $122.24 in Q4 [11][12] - Incidental thermal portion of the metallurgical segment saw an increase in realization to $79.39 per ton in Q1 from $75.39 in Q4 [12] - CapEx for Q1 was $38.5 million, down from $42.7 million in Q4 [13] Market Data and Key Metrics Changes - Metallurgical coal markets remained under pressure with pricing levels deteriorating due to weak steel demand [22] - All four indices monitored by the company fell 8% or more during Q1, with the Australian Premium Low Vol Index dropping 15.5% [22] - As of May 8, 2025, the Australian premium low vol index increased to $190.5 per metric ton from its quarter-end level [24] Company Strategy and Development Direction - The company is focused on liquidity and safeguarding its financial position amid challenging market conditions [6][9] - Adjustments to sales volume guidance were announced, with expected shipments for the year now at 15.3 million tons, down from 16.7 million tons [8] - The Kingston Wildcat project is expected to continue on schedule despite the downward revision to planned development CapEx [9][20] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious outlook for the rest of the year due to weak steel demand and increased uncertainty from tariffs and trade policies [6][8] - The company has taken difficult actions, including cutting production at higher-cost operations and reducing wages across the enterprise [7][19] - Management remains optimistic about the Kingston Wildcat project, which is expected to ramp up to a full run rate of approximately 1 million tons per year by 2026 [20] Other Important Information - The company has secured an amendment to its asset-based lending facility, increasing its size from $155 million to $225 million [10] - The company did not repurchase any shares in Q1 under its share buyback program due to market conditions [15] Q&A Session Summary Question: Recent cost-cutting measures and cost guidance - Management confirmed that recent cost-cutting measures have helped offset the loss of fixed cost absorption, maintaining guidance relatively firm despite production cuts [34][35] Question: CapEx reductions and growth projects - Most capital reductions are related to closures and reallocating assets, with no significant impact on future business [38][39] Question: Realization side and market conditions - In a weak market, discounting against indices is common, but not universal; some recent business concluded at a premium to the index [48] Question: Shipment guidance and domestic vs export - The reduction in shipment guidance primarily affects export tons, with confidence in maintaining overall guidance despite operational changes [46][47] Question: Opportunities in the marketplace - Management is cautious about pursuing M&A opportunities, focusing on internal projects like Kingston Wildcat for strengthening the portfolio [50][51] Question: Domestic market considerations - The domestic market is currently among the higher pricing, but management will evaluate customer needs over the summer [56][57] Question: Potential for small competitors exiting the market - There is still potential for small competitors to exit the market, with liquidity concerns affecting less well-capitalized companies [60][61]

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q1 2025 was $5.7 million, down from $53 million in Q4 2024 [10] - Tons shipped in Q1 2025 were 3.8 million, a decrease from 4.1 million tons in Q4 2024 [10] - Average realization for metallurgical coal sales in Q1 was $122.08 per ton, down from $132.63 per ton in Q4 [11] - Cost of coal sales for the metallurgical segment increased to $110.34 per ton in Q1, up from $108.82 per ton in Q4 [11] - Total liquidity as of March 31, 2025, was $485.8 million, down from $519.4 million at the end of 2024 [12] Business Line Data and Key Metrics Changes - Metallurgical coal segment realizations decreased to an average of $118.61 per ton in Q1, down from $127.84 in Q4 [10] - Incidental thermal portion of the metallurgical segment saw an increase in realization to $79.39 per ton in Q1, compared to $75.39 in Q4 [11] - CapEx for Q1 was $38.5 million, down from $42.7 million in Q4 [12] Market Data and Key Metrics Changes - Metallurgical coal markets remained under pressure with pricing levels deteriorating due to weak steel demand [20] - All four indices monitored by the company fell by 8% or more during Q1, with the Australian Premium Low Vol Index dropping 15.5% [20] - As of May 8, 2025, the Australian premium low vol index increased to $190.5 per metric ton, indicating slight recovery [22] Company Strategy and Development Direction - The company is focused on liquidity and safeguarding its financial position amid challenging market conditions [5] - Adjustments to sales volume guidance were made, with expected shipments now at 15.3 million tons, down from 16.7 million tons [7] - The Kingston Wildcat project is expected to continue on schedule despite the downward revision in CapEx [8] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious outlook for the remainder of the year due to weak steel demand and economic uncertainty [5] - The company has taken difficult actions, including cutting production at higher-cost operations and reducing wages [6] - Management remains optimistic about the Kingston Wildcat project, which is expected to ramp up to a full run rate of approximately 1 million tons per year by 2026 [19] Other Important Information - The company has secured an amendment to its asset-based lending facility, increasing its size from $155 million to $225 million [9] - The company did not repurchase any shares in Q1 under its buyback program due to continued softness in the metallurgical coal markets [14] Q&A Session Summary Question: Thoughts on cost cadence and recent cost-cutting measures - Management noted that significant production cuts have been made while maintaining cost guidance, indicating a good accomplishment [31] Question: CapEx reductions and growth-related impacts - Most capital reductions are related to closures, with some growth CapEx being managed in-house to reduce costs [35] Question: Realization pressures and market conditions - Management acknowledged that in a weak market, discounting against indices is common, but not universal [45] Question: Shipment guidance and domestic versus export expectations - The reduction in shipment guidance primarily affects export tons, with confidence in maintaining domestic shipments [43] Question: Opportunities for acquisitions in the current market - Management is cautious about pursuing M&A opportunities, focusing instead on internal projects like Kingston Wildcat [48]

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q1 2025 was $5.7 million, down from $53 million in Q4 2024 [11] - Tons shipped in Q1 2025 were 3.8 million, a decrease from 4.1 million tons in Q4 2024 [11] - Average realization for metallurgical coal sales in Q1 was $122.08 per ton, down from $132.63 per ton in Q4 [12] - Cost of coal sales for the metallurgical segment increased to $110.34 per ton in Q1, up from $108.82 per ton in Q4 [12] - Unrestricted cash as of March 31, 2025, was $448 million, down from $481.6 million at the end of 2024 [13] Business Line Data and Key Metrics Changes - Metallurgical coal segment realizations decreased quarter over quarter, with average realization of $118.61 in Q1, down from $127.84 in Q4 [11] - Incidental thermal portion of the metallurgical segment saw an increase in realization to $79.39 per ton in Q1 from $75.39 in Q4 [12] - CapEx for Q1 was $38.5 million, down from $42.7 million in Q4 [13] Market Data and Key Metrics Changes - Metallurgical coal markets remained under pressure with pricing levels deteriorating due to weak steel demand [21] - All four indices monitored by the company fell 8% or more during Q1, with the Australian Premium Low Vol Index dropping 15.5% [21] - As of May 8, 2025, the Australian premium low vol index increased to $190.5 per metric ton from quarter-end levels [23] Company Strategy and Development Direction - The company is focused on liquidity and safeguarding its financial position amid challenging market conditions [6] - Adjustments to sales volume guidance were announced, with expected shipments for the year now at 15.3 million tons, down from 16.7 million tons [7] - The Kingston Wildcat project is expected to continue on schedule despite the downward revision to planned development CapEx [8] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious outlook for the rest of the year due to weak steel demand and increased uncertainty from tariffs and trade policies [6] - The company has taken difficult actions, including cutting production at higher-cost operations and reducing wages across the enterprise [7] - Management remains optimistic about the Kingston Wildcat project, which is expected to ramp up to a full run rate of approximately 1 million tons per year by 2026 [20] Other Important Information - The company has secured an amendment to its asset-based lending facility, increasing its size from $155 million to $225 million [10] - Total liquidity as of March 31, 2025, was $485.8 million, down from $519.4 million at the end of 2024 [13] Q&A Session Summary Question: Recent cost-cutting measures and cost guidance - Management confirmed that significant production cuts have been made, but cost guidance remains relatively firm [32] Question: CapEx reduction and growth projects - Most capital reductions are related to closures, with some growth CapEx being managed in-house [36] Question: Realization pressures and market conditions - Management acknowledged that discounting against indices is occurring in a weak market, but not universally [48] Question: Domestic versus export shipment guidance - The reduction in shipment guidance primarily affects export tons, with domestic shipments expected to continue [46] Question: Opportunities in the marketplace - Management is cautious about pursuing M&A opportunities due to market conditions but remains focused on internal projects [51] Question: Domestic market considerations - Management will evaluate domestic market opportunities as summer approaches, but no firm numbers are set [56] Question: Impact of smaller competitors exiting the market - Management believes there are still tons that could exit the market due to liquidity issues among smaller companies [60] Question: Cash balance strategy through the cycle - Management continuously evaluates cash balance strategies, adapting to market conditions [61]