Arch Coal Misses Full-Year Sales Forecast on Rail Delays
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Arch Coal Inc., the fourth-largest U.S. producer of the commodity, sold less thermal and metallurgical coal than forecast last year because of rail delays and “challenging geological conditions” at a mine in West Virginia.
Fourth-quarter shipments of coal used by power stations from the Powder River Basin coal region in Wyoming fell 15 percent compared with the preceding three months, the St. Louis-based company said today in a statement. Arch expected to make up most of the shortfall in 2014, Chief Executive Officer John Eaves said in the statement.