Arch Coal Loss Wider Than Expected After Sales Volumes Fall
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Arch Coal Inc., the country’s fourth-largest producer of the fuel, reported quarterly revenue and a loss that were worse than expected after sales volumes declined 15 percent on weaker demand.
The fourth-quarter net loss was $295.4 million, or $1.39 a share, compared with net income of $70.9 million, or 33 cents, a year earlier, St. Louis-based Arch said in a statement today. Excluding an asset writedown and other items, the loss was 42 cents a share, missing the 14-cent average of 23 analysts’ estimates compiled by Bloomberg.