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Mar 31, 2024
Alpha Metallurgical Q1 2024 Earnings Report
Alpha Metallurgical Resources reported a solid quarter of performance despite challenges and softening coal market conditions.
Key Takeaways
Alpha Metallurgical Resources reported first quarter net income of $127.0 million, or $9.59 per diluted share. Adjusted EBITDA for the quarter was $189.6 million.
Reported first quarter net income of $127.0 million, or $9.59 per diluted share.
Generated Adjusted EBITDA of $189.6 million for the quarter.
Net realized pricing for the Met segment was $166.68 per ton.
The company has acquired approximately 6.6 million shares of common stock at a cost of approximately $1.1 billion, or approximately $165.74 per share as of April 30, 2024.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Alpha is increasing its full-year guidance for idle operations expense to between $25 million and $33 million, up from the previously announced range of $18 million to $28 million. Additionally, the company is reducing its 2024 tax rate guidance to a range of 10% to 15%, down from the prior range of 12% to 17%.
Positive Outlook
- Metallurgical Coal shipments between 15.5 and 16.5 million tons.
- Thermal Coal shipments between 0.9 and 1.3 million tons.
- SG&A between $60 and $66 million.
- Net Cash Interest Income between $2 and $8 million.
- Tax Rate between 10% and 15%.
Challenges Ahead
- Capital Expenditures between $210 and $240 million.
- Capital Contributions to Equity Affiliates between $40 and $50 million.
- DD&A between $140 and $160 million.
- Met Segment Costs per ton between $110.00 and $116.00.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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