Alpha Metallurgical Resources(AMR) - 2025 Q4 - Annual Results

Financial Performance - Alpha reported a preliminary net loss of $17.3 million, or $1.34 per diluted share, for Q4 2025[5]. - Adjusted EBITDA for the fourth quarter was $28.5 million, excluding approximately $6 million in non-recurring costs due to mine recovery issues[6][3]. - Total coal revenues for the fourth quarter reached $519.1 million, with non-GAAP coal revenues of $436.3 million after excluding freight and handling[7][27]. - The company sold 3.8 million tons of coal in Q4 2025, with a realized pricing of $115.31 per ton[8][9]. - The cost of coal sales for the Met segment was $478.5 million, resulting in a non-GAAP cost of coal sales of $383.8 million, or $101.43 per ton[12][27]. - Alpha's coal margin for the Met segment was reported at $52.5 million, or $13.87 per ton, indicating a positive non-GAAP coal margin despite a GAAP coal margin loss[27]. Liquidity and Shareholder Actions - As of December 31, 2025, Alpha had total liquidity of $524.3 million, including cash and cash equivalents of $366.0 million[13]. - The board authorized a share repurchase program of up to $1.5 billion, with approximately $1.1 billion spent to acquire 6.9 million shares to date[14][15]. Future Announcements - The company plans to announce definitive Q4 2025 financial results on February 27, 2026, and will hold a conference call on the same day[18]. Revenue Breakdown - Total met coal segment revenues reached $415,947,000, with an average realization of $118.10 per ton sold[28]. - Export coal sales accounted for 50% of total met coal tons sold, generating $187,642,000 in revenues[28]. - Domestic coal sales contributed $116,913,000, representing 22% of total met coal tons sold[28]. - Australian indexed export coal sales generated $111,392,000, making up 28% of total met coal tons sold[28]. - Non-GAAP coal revenues totaled $436,330,000, with an average realization of $115.31 per ton[28]. - Freight and handling fulfillment revenues added $82,730,000 to total coal revenues[28]. - The company sold a total of 3,784 thousand tons of coal during the quarter[28]. - The met segment also included thermal coal sales of 262 thousand tons, generating $20,383,000 in revenues[28]. - The average realization for thermal coal was $77.80 per ton sold[28].