Alpha Metallurgical Resources(US:AMR) Prnewswireยท2024-11-01 11:30Financial Performance - Company reported a net income of $3.8 million, or $0.29 per diluted share, for Q3 2024, a significant decrease from $58.9 million, or $4.49 per diluted share, in Q2 2024 [2][4] - Adjusted EBITDA for Q3 2024 was $49.0 million, down from $116.0 million in Q2 2024 [2][4] - Operating cash flow increased to $189.5 million compared to $138.1 million in Q2 2024 [8] Coal Revenues - Total coal revenues for the metallurgical segment were $669.8 million in Q3 2024, down from $800.1 million in Q2 2024 [4] - The average realized price for metallurgical coal was $132.76 per ton in Q3 2024, compared to $141.86 per ton in Q2 2024 [5][6] Sales and Commitments - Company has committed approximately 3.7 million tons of metallurgical coal to domestic customers for shipment in 2025 at an average price of $152.51 per ton [13][14] - Guidance for total shipments in 2025 is expected to be between 16.0 million and 17.4 million tons [14] Liquidity and Capital Resources - Total liquidity as of September 30, 2024, was $507.0 million, an increase of $150.3 million from Q2 2024 [9] - Capital expenditures for Q3 2024 were $31.5 million, down from $61.1 million in Q2 2024 [8] Cost Management - Cost of coal sales for the metallurgical segment increased to an average of $114.27 per ton in Q3 2024, compared to $109.31 per ton in Q2 2024 [7] - Company is focusing on cost management to navigate the current market challenges [3]