Breaking News

Tweet TWEET

Alpha Natural Posts Narrower-Than-Expected Third-Quarter Loss

Alpha Natural Resources Inc. (ANR), the second-largest U.S. coal producer by revenue, reported a narrower-than-expected third-quarter loss after sales increased from the Powder River Basin mining region.

Alpha had a net loss of $46.1 million, or 21 cents a share, compared with net income of $62.6 million, or 28 cents, a year earlier, the Bristol, Virginia-based company said today in a statement. The loss excluding goodwill impairment and other items cents a share, beating the 45-cent average of 27 analysts’ estimates compiled by Bloomberg. Sales fell to $1.63 billion from $2.31 billion. The average of 17 estimates was for $1.68 billion.

Alpha sold 13.2 million tons of coal in the quarter from the Powder River Basin, which covers parts of Montana and Wyoming, compared with 12.6 million a year earlier. Revenue from coal sold in the region climbed to $170.1 million from $150.5 million and Alpha’s average realized price for the region rose to $12.87 a ton from $11.98.

The earnings were released before the start of regular trading in New York. The shares closed at $8.86 yesterday and have fallen 57 percent this year.

(Alpha scheduled a conference call to discuss results at 10 a.m. in New York. To listen, go to the company’s website at http://alnr.client.shareholder.com/.)

-- Editors: Simon Casey, Jasmina Kelemen

To contact the reporter on this story: Sonja Elmquist in New York at selmquist1@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.