Alpha Metallurgical Resources(AMR) - 2024 Q4 - Annual Results

Financial Performance - Alpha reported a net loss of $2.1 million for Q4 2024, compared to a net income of $3.8 million in Q3 2024[3] - Coal revenues for Q4 2024 were $615,383, a decrease of 35.7% from $957,127 in Q4 2023[33] - Total revenues for the year ended December 31, 2024, were $2,957,285, down 14.8% from $3,471,417 in 2023[33] - Net loss for Q4 2024 was $(2,129), compared to net income of $176,016 in Q4 2023, representing a significant decline[33] - Basic loss per share for Q4 2024 was $(0.16), compared to earnings of $13.35 per share in Q4 2023[33] - Adjusted EBITDA for the year ended December 31, 2024, was $407,752,000, down from $1,033,111,000 in 2023, reflecting a decline of 60.5%[41] - Non-GAAP coal revenues for the year ended December 31, 2024, were $2,443,273,000, a decrease of 17.6% from $2,967,860,000 in 2023[44] - The GAAP coal margin for the year ended December 31, 2024, was $297,123,000, a significant decrease of 68.8% from $952,792,000 in 2023[44] Cash Flow and Liquidity - Operating cash flow decreased to $56.3 million in Q4 2024, down from $189.5 million in Q3 2024[14] - Cash and cash equivalents increased to $481,578 as of December 31, 2024, from $268,207 in 2023, reflecting a strong liquidity position[39] - The total liquidity as of December 31, 2024, was $519.4 million, including cash and cash equivalents of $481.6 million[15] Capital Expenditures and Investments - Capital expenditures for Q4 2024 were $42.7 million, compared to $31.5 million in Q3 2024[14] - Capital expenditures for 2024 were $(198,848), compared to $(245,373) in 2023, indicating a reduction in investment[37] Guidance and Projections - The company reduced its 2025 guidance for metallurgical coal shipments to a range of 14.5 million to 15.5 million tons, down from 15.0 million to 16.0 million tons[19] - The cost of coal sales guidance for 2025 was increased to $103.00 to $110.00 per ton, up from the previous range of $103.00 to $108.00 per ton[19] - The company has committed and priced approximately 32% of its metallurgical coal for 2025 at an average price of $143.81 per ton[20] Shareholder Actions - Alpha's board authorized a share repurchase program of up to $1.5 billion, with approximately 6.6 million shares acquired at a cost of about $1.1 billion as of February 21, 2025[17] Asset and Liability Management - Total assets as of December 31, 2024, were $2,438,708, a slight increase from $2,406,057 in 2023[35] - Total liabilities decreased to $789,211 as of December 31, 2024, from $832,129 in 2023, showing improved financial health[35] - Retained earnings increased to $2,156,467 as of December 31, 2024, compared to $1,969,527 in 2023, reflecting accumulated profits[35] Sales and Pricing - The average realized pricing for the metallurgical segment was $127.84 per ton in Q4 2024, down from $132.76 per ton in Q3 2024[8] - Non-GAAP coal sales realization per ton for the year ended December 31, 2024, was $142.66, down 20.5% from $179.40 in 2023[44] - The non-GAAP cost of coal sales per ton for the year ended December 31, 2024, was $112.01, slightly up from $111.67 in 2023[44] - For the three months ended December 31, 2024, the non-GAAP coal margin was $77,279,000, compared to $294,158,000 in the same period of 2023, reflecting a decline of 73.8%[43]