Alpha Metallurgical Resources, Inc. (NYSE:AMR) reported weaker-than-expected second-quarter results on Friday after lower coal shipments and higher operating costs pushed the company to a quarterly loss and revenue below Wall Street forecasts.
Shares fell around 3% in pre-market trading following the earnings announcement.
Earnings and Revenue Disappoint
The metallurgical coal producer posted a loss of $0.96 per share for the second quarter, missing analysts’ expectations for earnings of $0.32 per share.
Revenue declined 10% year over year to $492.86 million from $550.27 million, also falling short of the consensus estimate of $577.23 million.
Net loss widened to $12.3 million, compared with a loss of $5.0 million in the same quarter last year.
Adjusted EBITDA also weakened, falling to $25.6 million from $46.1 million a year earlier.
Coal sales totalled 3.5 million tonnes during the quarter, down from 3.9 million tonnes in the second quarter of 2025.
Operational Challenges Prompt Updated Guidance
Chief Executive Officer Andy Eidson said, “Due to several factors, we closed out the first half of 2026 with fewer tons shipped and higher costs than expected.”
He added, “Those realities are evident in our second quarter results, and they informed our decision to release adjusted guidance ranges for sales volumes and cost of coal sales.”
The company also pointed to storm damage at Dominion Terminal Associates in June as a factor that disrupted exports. Management said it intends to offset reduced terminal efficiency by increasing throughput at other East Coast export facilities.
Company Updates 2026 Outlook
Alpha issued revised guidance for full-year 2026 shipments of between 14.2 million and 15.4 million tonnes.
The company expects the cost of coal sales to range from $103.00 to $107.00 per tonne.
Management also noted that approximately 70% of its expected metallurgical coal production for 2026 has already been committed and priced at an average of $128.17 per tonne, providing a degree of revenue visibility despite challenging market conditions.
Liquidity Remains Strong
As of 30 June 2026, Alpha Metallurgical Resources reported total liquidity of $447.8 million, including cash and cash equivalents of $307.6 million, leaving the company with a solid financial position as it manages operational headwinds.
Alpha Metallurgical Resources stock price
