Posts fourth quarter net income of $176.0 million, or $12.88 per diluted share Announces Adjusted EBITDA of $266.3 million for the quarter Continues progress on buyback program, with approximately $1.1 billion returned to shareholders since program inception Announces changes to company's board of directors BRISTOL, Tenn., Feb. 26, 2024 /PRNewswire/ -- Alpha Metallurgical Resources, Inc. (NYSE: AMR), a leading U.S. supplier of metallurgical products for the steel industry, today reported financial results ...

Financial Performance - Q4 2023 net income of $176.0 million, or $12.88 per diluted share, compared to $93.8 million, or $6.65 per diluted share, in Q3 2023[1][6] - Q4 2023 Adjusted EBITDA of $266.3 million, up from $153.9 million in Q3 2023[1][6] - Net income for Q4 2023 was $176.0 million, down from $220.7 million in Q4 2022, a 20.3% decrease[29] - Basic income per common share for Q4 2023 was $13.35, compared to $13.86 in Q4 2022, a 3.7% decline[29] - Net income for the year ended December 31, 2023, was $721.956 million, compared to $1.448545 billion in 2022[32] - Adjusted EBITDA for the year ended December 31, 2023, was $1.033111 billion, down from $1.740612 billion in 2022[35] Coal Sales and Revenues - Met segment coal sales realization increased to $183.76 per ton in Q4 2023 from $154.73 per ton in Q3 2023[6] - Coal revenues for Q4 2023 were $957.1 million, compared to $821.1 million in Q4 2022, representing a 16.6% increase[29] - Total revenues for Q4 2023 reached $959.9 million, up from $823.4 million in Q4 2022, a 16.6% growth[29] - Non-GAAP coal revenues for the three months ended December 31, 2023, were $837.588 million, with a sales realization of $182.72 per ton[36] - Tons sold in the three months ended December 31, 2023, were 4.584 million, with coal revenues contributing $954.181 million[36] - Coal revenues for the three months ended December 31, 2023, were $957,127 thousand, with a GAAP coal margin of $237,487 thousand[37] - Non-GAAP coal margin for the same period was $294,581 thousand, with a per ton margin of $64.26[37] - Coal revenues for the three months ended September 30, 2023, were $738,998 thousand, with a non-GAAP coal sales realization per ton of $152.48[39] - Coal revenues for the three months ended December 31, 2022, were $821,142 thousand, with a GAAP coal margin of $238,938 thousand[42] - Non-GAAP coal margin for the three months ended December 31, 2022, was $280,932 thousand, with a per ton margin of $72.39[42] - Coal revenues for 2023 totaled $3,456,630 thousand, with Met coal contributing $3,406,643 thousand and All Other coal contributing $49,987 thousand[43] - Non-GAAP coal revenues for 2023 were $3,017,620 thousand, with a sales realization per ton of $176.76[43] - Coal revenues for 2022 totaled $4,092,987 thousand, with Met coal contributing $4,018,515 thousand and All Other coal contributing $74,472 thousand[45] - Non-GAAP coal revenues for 2022 were $3,563,924 thousand, with a sales realization per ton of $217.60[45] Cost of Coal Sales - Met segment cost of coal sales rose to $119.00 per ton in Q4 2023 from $109.95 per ton in Q3 2023[10] - 2024 guidance: Met segment cost of coal sales per ton projected between $110.00 to $116.00[21] - Non-GAAP cost of coal sales for the three months ended December 31, 2023, was $543.007 million, with a cost per ton of $118.46[36] - Non-GAAP cost of coal sales for the three months ended September 30, 2023, was $461,780 thousand, with a per ton cost of $109.30[39] - Non-GAAP cost of coal sales for the three months ended December 31, 2022, was $434,300 thousand, with a per ton cost of $111.90[41] - Non-GAAP cost of coal sales per ton in 2023 was $110.72, with Met coal at $111.67 per ton and All Other coal at $80.84 per ton[43] - Non-GAAP cost of coal sales per ton in 2022 was $105.53, with Met coal at $108.22 per ton and All Other coal at $59.19 per ton[45] Shareholder Returns and Liquidity - Share repurchase program: $1.1 billion returned to shareholders since inception, with 6.6 million shares repurchased at an average price of $164.87 per share[14] - Total liquidity as of December 31, 2023, was $287.3 million, including $268.2 million in cash and cash equivalents[13] - Cash and cash equivalents decreased to $268.2 million as of December 31, 2023, from $301.9 million in 2022, an 11.2% drop[30] - Total cash and cash equivalents and restricted cash at the end of 2023 was $384.125 million, compared to $355.394 million at the end of 2022[33] Capital Expenditures and Investments - 2024 capital expenditures guidance: $210 to $240 million[21] - Capital expenditures in 2023 increased to $245.373 million, up from $164.309 million in 2022[32] Operational Metrics - 2024 guidance: Metallurgical coal shipments expected between 15.5 to 16.5 million tons, with 35% committed and priced at an average of $171.33 per ton[19][20] - Tons sold for the three months ended December 31, 2023, were 4,584 thousand, with a GAAP coal margin per ton of $51.81[37] - Tons sold for the three months ended September 30, 2023, were 4,225 thousand, with a non-GAAP coal sales realization per ton of $152.48[39] - Tons sold for the three months ended December 31, 2022, were 3,881 thousand, with a GAAP coal margin per ton of $61.57[42] - Total tons sold in 2023 were 17,072, with Met coal accounting for 16,543 tons and All Other coal accounting for 529 tons[43] - Total tons sold in 2022 were 16,378, with Met coal accounting for 15,478 tons and All Other coal accounting for 900 tons[45] Balance Sheet and Financial Position - Total assets as of December 31, 2023, were $2.406 billion, up from $2.312 billion in 2022, a 4.1% increase[30] - Trade accounts receivable increased to $509.7 million as of December 31, 2023, from $407.2 million in 2022, a 25.2% rise[30] - Total liabilities decreased to $832.1 million as of December 31, 2023, from $882.7 million in 2022, a 5.7% reduction[30] - Retained earnings grew to $1.969 billion as of December 31, 2023, from $1.275 billion in 2022, a 54.4% increase[31] - Treasury stock increased to $1.189 billion as of December 31, 2023, from $649.1 million in 2022, an 83.3% rise[31] Cash Flow - Q4 2023 operating cash flow increased to $199.4 million from $157.2 million in Q3 2023[11] - Net cash provided by operating activities in 2023 was $851.159 million, down from $1.484005 billion in 2022[32] Depreciation and Amortization - Depreciation, depletion, and amortization for production in 2023 was $42.325 million, compared to $33.295 million in 2022[36] - Accretion on asset retirement obligations in 2023 was $6.371 million, up from $3.721 million in 2022[36] Coal Margins - GAAP coal margin for 2023 was $930,801 thousand, with a margin per ton of $54.52[44] - Non-GAAP coal margin for 2023 was $1,127,490 thousand, with a margin per ton of $66.04[44]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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 other ...

Core Insights - Seeking Alpha's Alpha Picks portfolio has achieved a return of 114% since its launch on July 1, 2022, significantly outperforming the S&P 500, which is up 32% during the same period [2][3][12] Alpha Picks Overview - Alpha Picks is a quantamental portfolio that selects two stocks per month from Seeking Alpha's Quant Strong Buys, focusing on mispriced securities with strong fundamentals [3][4] - The selection process involves analyzing approximately 400 Strong Buys to identify the top two stocks based on five core metrics: value, growth, profitability, analyst EPS revisions, and momentum [5][8] Performance Metrics - The portfolio includes stocks that have shown exceptional performance, with seven stocks up over 100%, including Super Micro Computer, which is up 1,000% since its recommendation [12][18] - Other notable performers include Modine Manufacturing (up 283%), M/I Homes (up 232%), and Alpha Metallurgical Resources (up 193%) [12][21] Stock Selection Criteria - Stocks must be U.S. common stocks or ADRs, have a market capitalization greater than $500 million, and a stock price above $10 to qualify for selection [5][6] - Once a stock is recommended, it will not be recommended again for a full year, ensuring a diverse portfolio [6][7] Trading Strategy - The strategy allows for a long-term approach, where stocks that double in value may only have half their position sold if they drop to a hold rating after 180 days [9][11] - The portfolio maintains transparency with performance tracking and alerts for rating changes [4][7] Dividend Considerations - Approximately 14 out of 30 stocks in the portfolio pay dividends, with yields often exceeding those of the S&P 500, providing an additional benefit to investors [20][21] Market Trends and Outlook - The Magnificent Seven tech stocks have seen significant gains, with a combined increase of 111% in 2023, driven by a flight to safety and interest in AI technologies [23][24] - As the market stabilizes and interest rates potentially decrease, there may be a rotation towards mid-cap and small-cap stocks, benefiting the Alpha Picks portfolio [25][26] Recent Performance - In the latest quarter, nearly all companies in the Alpha Picks portfolio exceeded analyst expectations, contributing to strong performance in January [26][27]

Product Development - PPG Industries Inc. has launched the PPG ADJUSTRITE Repair Management tool, enhancing the PPG AdjustRite commercial estimating system to boost productivity in commercial vehicle repairs [1] - The tool features a mobile-friendly design, providing technicians with a time clock system and automated tracking of labor hours per repair order, while shop managers gain insights from productivity indicators and efficiency statistics [1] Market Position - The PPG AdjustRite system is recognized as the leading estimating platform among commercial vehicle dealers, independent collision repair businesses, fleet repair units, independent adjusters, and insurance companies [2] - It utilizes a comprehensive database of truck components and repair data to generate reliable estimates based on actual vehicle model specifications, covering the entire repair process [2] Financial Performance - PPG's adjusted earnings per share rose to $1.53 in Q4 2023 from $1.22 in the same quarter last year, exceeding the Zacks Consensus Estimate of $1.50 [4] - The company's revenues increased approximately 4% year over year to $4,350 million in Q4 2023, surpassing the Zacks Consensus Estimate of $4,266.5 million [4] - For Q1 2024, PPG anticipates adjusted EPS in the range of $1.80-$1.87, and for the full year 2024, it expects adjusted EPS between $8.34-$8.59 [4] Stock Performance - PPG shares have increased by 9.8% over the past year, compared to a 19.6% rise in its industry [4]

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Alpha Metallurgical (AMR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.Alpha Metallurgical is a member of our Basic Materials group, which includes 236 different companies and currently sits at #15 in the Zacks Sector ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics a ...

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Alpha Metallurgical (AMR) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Alpha Metallurgical is a member of our Basic Materials group, which includes 236 different companies and currently sits at #15 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zac ...

Core Insights - Investors favor businesses with consistent profitability, measured effectively by net profit margin, which indicates a company's efficiency in converting sales into profits [1][2] - A higher net profit margin compared to peers provides a competitive advantage for companies [2] Summary by Sections Net Profit Margin - Net profit margin is calculated as Net Profit/Sales * 100, reflecting the amount retained after all expenses [1] - A strong net profit margin is crucial for attracting investors and skilled employees, enhancing overall business value [1] Pros and Cons - Net profit margin offers clarity on a company's business model, including pricing, cost structure, and manufacturing efficiency, making it a preferred metric for investors [3] - However, the metric varies significantly across industries, and its effectiveness can be diminished by factors such as accounting treatments and debt financing [3] Winning Strategy - A healthy net profit margin combined with solid earnings per share (EPS) growth is essential for maximizing returns [4] Screening Parameters - Criteria for screening include a net margin of at least 0%, positive EPS growth, a broker rating of 1 (extreme bullishness), a Zacks Rank of 1 or 2 (strong buy or buy), and a VGM Score of A or B for optimal upside potential [5] Company Highlights - **Virco Manufacturing Corporation (VIRC)**: Zacks Rank 1, VGM Score A, with a fiscal 2024 earnings estimate of $1.35 per share, reflecting a 20.5% increase in the last 60 days and an average surprise of 188.6% over the last four quarters [6] - **H&E Equipment Services, Inc. (HEES)**: Zacks Rank 1, VGM Score A, with a 2023 earnings estimate of $4.50 per share, maintaining a 21.4% average surprise over the last four quarters [6] - **Alpha Metallurgical Resources, Inc. (AMR)**: Zacks Rank 1, VGM Score A, with a 2023 earnings estimate of $44.60 per share, an 8.8% increase in the last 30 days, and a 9.6% average surprise [7] - **Photronics, Inc. (PLAB)**: Zacks Rank 1, VGM Score B, with a fiscal 2024 earnings estimate of $2.60 per share, reflecting a 15.6% increase in the last 60 days and an average surprise of 8.5% [8]

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fun ...