Alpha Metallurgical Resources(US:AMR)2025-05-09 11:46Company Overview - Alpha sold 171 million tons of coal in 2024, with adjusted EBITDA of $408 million[11] - The company's sales mix in 2024 consisted of 76% export and 24% domestic[11] - Alpha's asset footprint includes 19 mines, 8 preparation plants, 2 standalone loadouts, 1 dock, and 1 export terminal[11] Financial Performance and Strategy - Alpha has a flexible cost structure that enables resilience through commodity price cycles[24] - The company's capital allocation priorities include maintaining a strong balance sheet and generating strong free cash flow[49] - Alpha plans to invest approximately $27 million per year in DTA for infrastructure and equipment upgrades over the next 5 years[49] - In 2024, Alpha's domestic average realized price was $152 per ton, while the export average realized price was $140 per ton[33] Market Outlook - The outlook for metallurgical coal remains robust with strong long-term demand and limited new supply[24] - Approximately 65% of steel is expected to be produced via BOF from 2025E to 2034E[27] Safety and Environment - Alpha's safety performance is approximately 40% better than the industry average[42] - The company has planted over 53 million trees since 2016[16]