Alpha Announces First Quarter 2025 Financial Results

Financial Performance - Alpha Metallurgical Resources 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 [4][5] - Adjusted EBITDA for the first quarter was $5.7 million, down from $53.2 million in the previous quarter [4][34] - Total coal revenues for Q1 2025 were $529.7 million, a decrease from $615.4 million in Q4 2024 [4][35] Coal Sales and Pricing - The tons of coal sold in Q1 2025 were 3.8 million, down from 4.1 million in Q4 2024 [4][5] - The net realized pricing for the metallurgical segment was $118.61 per ton, a decrease from $127.84 per ton in the previous quarter [6][35] - The company has reduced its metallurgical coal sales volume guidance for 2025 to a range of 13.8 million to 14.8 million tons, down from the prior range of 14.5 million to 15.5 million tons [5][15] Capital Expenditures and Liquidity - Capital expenditures for Q1 2025 were $38.5 million, compared to $42.7 million in Q4 2024 [9][32] - The company has lowered its 2025 capex guidance to a range of $130 million to $150 million, down from the previous range of $152 million to $182 million [5][16] - As of March 31, 2025, total liquidity was $485.8 million, including cash and cash equivalents of $448.0 million [10][33] ABL Facility - Alpha increased the size of its asset-based revolving credit facility (ABL) from $155 million to $225 million, with an extension of maturity to May 2029 [3][11] - The amended ABL facility allows for an additional capacity increase of up to $75 million, with specific provisions for cash collateralized letters of credit [11][12] Market Conditions and Guidance - The company cited challenging market conditions and severe weather impacts as significant factors affecting performance [3][5] - Alpha expects to ship between 0.8 million and 1.2 million tons of thermal coal for the year, down from the prior range of 1.0 million to 1.4 million tons [5][15]