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Sep 30, 2022
Alpha Metallurgical Q3 2022 Earnings Report
Alpha Metallurgical Resources reported solid performance due to the impact of the coal indices' drop. The board approved a share repurchase authorization increase and a one-time special dividend.
Key Takeaways
Alpha Metallurgical Resources reported net income from continuing operations of $251.8 million, or $14.21 per diluted share, for the third quarter 2022. Total Adjusted EBITDA was $294.9 million. The company announced a 4.5 million tons of 2023 domestic sales commitments at an average price of $192.27 per ton.
Net income from continuing operations of $251.8 million, or $14.21 per diluted share, was posted for the quarter.
Third quarter Adjusted EBITDA was reported as $294.9 million.
Quarterly operating cash flow was generated at $497.0 million.
Cumulative $452 million in buybacks were announced through share repurchase program as of October 31, 2022.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Alpha has committed and priced approximately 87% of its metallurgical coal within the Met segment at an average price of $243.30 per ton and 100% of thermal coal in the Met segment at an average expected price of $97.43 per ton. In the All Other category the company is 100% committed and priced at an average price of $77.69 per ton.
Positive Outlook
- Metallurgical coal is 87% committed and priced at $243.30 per ton.
- Thermal coal is 100% committed and priced at $97.43 per ton.
- All Other category is 100% committed and priced at $77.69 per ton.
- Metallurgical coal domestic average price is $192.03 per ton.
- Metallurgical coal export average price is $265.02 per ton.
Challenges Ahead
- Unable to present a quantitative reconciliation of its forward-looking non-GAAP cost of coal sales per ton sold financial measures to the most directly comparable GAAP measures without unreasonable efforts.
- The most directly comparable GAAP measure, GAAP cost of sales, is not accessible without unreasonable efforts on a forward-looking basis.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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