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Dec 31, 2019
Alpha Metallurgical Q4 2019 Earnings Report
Contura Energy reported a net loss from continuing operations of $191.9 million for Q4 2019, which included pre-tax non-cash asset impairment charges of $60.5 million and a goodwill impairment of $124.4 million.
Key Takeaways
Contura Energy reported a net loss of $191.9 million, or $10.54 per diluted share, for the fourth quarter of 2019. The results were impacted by asset and goodwill impairment charges. Adjusted EBITDA was $31.5 million for the quarter. The company is reducing its 2020 capital expenditure guidance by $30 million while maintaining other guidance.
Net loss from continuing operations was $192 million, including a $60 million pre-tax non-cash asset impairment charge and a $124 million goodwill impairment.
Adjusted EBITDA was $31 million.
2020 capital expenditure guidance was reduced by $30 million.
The Road Fork 52 mine started production as scheduled on February 26, with an annual production capacity of up to 1.3 million tons.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Contura Energy provided its 2020 full-year guidance, maintaining its total coal shipments guidance range of 20.7 million tons to 22.7 million tons. They are reducing their 2020 capital expenditures guidance by $30 million to a range of $145 million to $165 million.
Positive Outlook
- Maintaining total 2020 coal shipments guidance range of 20.7 million tons to 22.7 million tons.
- CAPP-Met volume remaining at 12.0 million to 12.6 million tons.
- CAPP-Thermal volume remaining at 2.7 million tons to 3.3 million tons.
- NAPP volumes also remain at the previous range of 6.0 million tons to 6.8 million tons.
- Reducing 2020 capital expenditures guidance by $30 million to a range of $145 million to $165 million.
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.
- Management is unable to predict without unreasonable efforts freight and handling costs due to uncertainty as to the end market and FOB point for uncommitted sales volumes and the final shipping point for export shipments.
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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