Alpha Metallurgical Resources(US:AMR)2025-11-06 12:32Financial Performance - Alpha reported a net loss of $5.5 million for Q3 2025, compared to a net loss of $5.0 million in Q2 2025 and a net income of $3.8 million in Q3 2024[2][4]. - Total revenues for the nine months ended September 30, 2025, were $1.61 billion, down 31.2% from $2.34 billion in the same period of 2024[28]. - For the nine months ended September 30, 2025, the company reported a net loss of $44.416 million compared to a net income of $189.708 million for the same period in 2024[33]. - Basic loss per share for Q3 2025 was $0.42, compared to earnings of $0.29 per share in Q3 2024[28]. - The company reported a GAAP coal margin of $4.999 million for the nine months ended September 30, 2025, significantly lower than $271.018 million in 2024[39]. Revenue and Sales - Coal revenues for Q3 2025 were $525.2 million, a decrease of 21.6% from $669.8 million in Q3 2024[28]. - Coal revenues for the Met segment were $525.2 million in Q3 2025, a decrease from $548.7 million in Q2 2025[6]. - Non-GAAP coal revenues for the nine months ended September 30, 2025, were $1.353 billion, a decrease of 29.6% from $1.924 billion in 2024[39]. - The company sold 11,496 tons of coal in the nine months ended September 30, 2025, compared to 13,065 tons in 2024, reflecting a decrease of 12%[39]. - The non-GAAP coal sales realization per ton for the nine months ended September 30, 2025, was $117.66, down from $147.26 in 2024[39]. Costs and Expenses - The company reported a total cost of coal sales of $461.6 million for Q3 2025, a decrease of 22.9% from $598.7 million in Q3 2024[28]. - The total cost of coal sales for the nine months ended September 30, 2025, was $1.599 billion, down 22.3% from $2.060 billion in 2024[39]. - Selling, general and administrative expenses for the nine months ended September 30, 2025, were $46.3 million, down 18.9% from $57.2 million in the same period of 2024[28]. - The cost of coal sales for the Met segment decreased to $97.27 per ton in Q3 2025, compared to $100.06 per ton in Q2 2025[11][12]. Liquidity and Capital Expenditures - Total liquidity as of September 30, 2025, was $568.5 million, including cash and cash equivalents of $408.5 million[3][14]. - Cash and cash equivalents were $408.5 million as of September 30, 2025, down from $481.6 million at December 31, 2024[30]. - Capital expenditures for Q3 2025 were $25.1 million, down from $34.6 million in Q2 2025[13]. - The company experienced a net cash used in investing activities of $165.692 million for the nine months ended September 30, 2025, compared to $178.731 million in 2024[33]. Guidance and Future Commitments - Alpha is lowering its 2025 guidance range for capital contributions to equity affiliates to between $35 million and $41 million, down from $44 million to $54 million[17]. - Approximately 85% of metallurgical coal for 2025 has been committed and priced at an average price of $122.57 per ton[17]. - The company has authorized a share repurchase program of up to $1.5 billion, with approximately 6.8 million shares repurchased at a cost of about $1.1 billion as of October 31, 2025[15][16]. Asset and Liability Changes - Total current assets decreased to $989.9 million as of September 30, 2025, from $1.04 billion at December 31, 2024[30]. - Total liabilities decreased to $753.2 million as of September 30, 2025, from $789.2 million at December 31, 2024[30]. - Cash and cash equivalents at the end of the period were $534.315 million, down from $605.637 million at the end of September 2024[34]. EBITDA Performance - Adjusted EBITDA for the third quarter was $41.7 million, down from $46.1 million in the previous quarter[5]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $93.397 million, a decline of 73.6% from $354.599 million in 2024[36].