Alpha Metallurgical Resources(US:AMR)2025-05-09 11:32Financial Performance - Alpha reported a net loss of $33.9 million, or $2.60 per diluted share, for Q1 2025, compared to a net loss of $2.1 million, or $0.16 per diluted share, in Q4 2024[5]. - Adjusted EBITDA for Q1 2025 was $5.7 million, a significant decrease from $53.2 million in Q4 2024[6]. - Coal revenues for Q1 2025 were $529.67 million, a decrease of 38.4% from $861.28 million in Q1 2024[34]. - Total revenues for Q1 2025 were $531.96 million, down 38.5% from $864.07 million in Q1 2024[34]. - The net loss for Q1 2025 was $33.95 million, compared to a net income of $126.99 million in Q1 2024[34]. - Adjusted EBITDA for Q1 2025 was $5.65 million, significantly lower than $189.56 million in Q1 2024[40]. - The company reported a basic loss per share of $2.60 for Q1 2025, compared to a basic income per share of $9.77 in Q1 2024[34]. Sales and Production - The company sold 3.8 million tons of coal in Q1 2025, down from 4.1 million tons in Q4 2024[7]. - Metallurgical coal sales volume guidance for 2025 has been reduced to a range of 13.8 million to 14.8 million tons, down from 14.5 million to 15.5 million tons[22]. - Total tons sold in Q1 2025 were 3,758, a decrease of 14% from 4,365 tons sold in Q1 2024[42]. - The company reported a total of 3,453 tons sold in the met coal segment, generating $421.53 million in revenues[43]. - Export sales accounted for 48% of the met coal segment, with 1,662 tons sold at an average realization of $107.44 per ton[43]. Pricing and Costs - The average realized price for metallurgical coal was $118.61 per ton in Q1 2025, a decrease from $127.84 per ton in Q4 2024[8]. - Non-GAAP coal revenues for Q1 2025 were $445.74 million, down 38.9% from $727.56 million in Q1 2024[42]. - Non-GAAP coal sales realization per ton decreased to $118.61 in Q1 2025 from $166.68 in Q1 2024, a decline of 28.9%[42]. - GAAP coal margin for Q1 2025 was negative $25.48 million, compared to a positive margin of $164.76 million in Q1 2024[42]. - Non-GAAP coal margin for Q1 2025 was $31.07 million, down 86.1% from $222.75 million in Q1 2024[42]. - The cost of coal sales in Q1 2025 was $504.58 million, a reduction of 22.1% compared to $648.31 million in Q1 2024[34]. - The cost of coal sales for Q1 2025 was $555.15 million, a decrease of 20.3% from $696.53 million in Q1 2024[42]. - Non-GAAP cost of coal sales per ton was $110.34 in Q1 2025, slightly up from $115.65 in Q1 2024[42]. Cash Flow and Liquidity - Operating cash flow decreased to $22.2 million in Q1 2025, compared to $56.3 million in Q4 2024[15]. - Total liquidity as of March 31, 2025, was $485.8 million, including cash and cash equivalents of $448.0 million[16]. - Cash and cash equivalents at the end of Q1 2025 were $447.99 million, down from $481.58 million at the end of 2024[36]. - The company utilized $47.78 million in cash for investing activities in Q1 2025, compared to $68.86 million in Q1 2024[38]. Capital Expenditures and Debt - Capital expenditures guidance for 2025 has been lowered to $130 million to $150 million, down from the previous range of $152 million to $182 million[23]. - The asset-based revolving credit facility (ABL) was increased from $155 million to $225 million, with a maturity extension to May 2029[3]. - Total assets decreased to $2.40 billion as of March 31, 2025, from $2.44 billion at the end of 2024[36]. - Total liabilities were $785.66 million as of March 31, 2025, slightly down from $789.21 million at the end of 2024[36].