Arch Resources Inc

NYSE:ARCHUnited States

Apr 25, 2024

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• -- Earnings Flash (ARCH) ARCH RESOURCES Posts Q1 Revenue $680.2M, vs. Street Est of $598M, from 7:02AM ET on Thursday Apr 25, 2024 by MT Newswires

  7:02AM ET on Thursday Apr 25, 2024 by MT Newswires
  Companies Mentioned: ARCH
  07:02 AM EDT, 04/25/2024 (MT Newswires) -- ...

• Arch Resources Reports First Quarter 2024 Results, from 6:55AM ET on Thursday Apr 25, 2024 by PR Newswire

  6:55AM ET on Thursday Apr 25, 2024 by PR Newswire
  Companies Mentioned: ARCH

  Achieves net income of $56.0 million and adjusted EBITDA of $102.9 million Declares a quarterly cash dividend of $20.7 million, or $1.11 per share Reduces diluted share count by an incremental 3 percent during the quarter

• Arch Resources Reports First Quarter 2024 Results, from 6:55AM ET on Thursday Apr 25, 2024 by Dow Jones

  6:55AM ET on Thursday Apr 25, 2024 by Dow Jones
  Companies Mentioned: ARCH
  --------------------------- --------------------------- ----------------------------- ------------------------ (In thousands) GAAP Cost of sales in the Condensed Consolidated Income Statements $ 297,251 $ 262,928 $ 7,544 $ 567,723 Less: Adjustments to reconcile to Non-GAAP Segment cash cost of coal sales Diesel fuel risk management derivative settlements classified in "other income" - (900) - (900) Transportation costs 94,261 37,486 - 131,747 Cost of coal sales from idled or otherwise disposed operations - - 4,289 4,289 Other (operating overhead, certain actuarial, etc.) - - 3,255 3,255 Non-GAAP Segment cash cost of coal sales $ 202,990 $ 226,342 $ - $ 429,332 =========================== =========================== ============================= ======================== Tons sold 2,152 12,821 Cash cost per ton sold $ 94.31 $ 17.65 Quarter ended December 31, 2023 Metallurgical Thermal All Other Consolidated --------------------------- --------------------------- ----------------------------- ------------------------ (In thousands) GAAP Cost of sales in the Condensed Consolidated Income Statements $ 278,100 $ 276,738 $ 12,365 $ 567,203 Less: Adjustments to reconcile to Non-GAAP Segment cash cost of coal sales Diesel fuel risk management derivative settlements classified in "other income" - (218) - (218) Transportation costs 76,241 24,533 - 100,774 Cost of coal sales from idled or otherwise disposed operations - - 9,805 9,805 Other (operating overhead, certain actuarial, etc.) - - 2,560 2,560 Non-GAAP Segment cash cost of coal sales $ 201,859 $ 252,423 $ - $ 454,282 =========================== =========================== ============================= ======================== Tons sold 2,333 15,536 Cash cost per ton sold $ 86.51 $ 16.25 Quarter ended March 31, 2023 Metallurgical Thermal All Other Consolidated --------------------------- --------------------------- ----------------------------- ------------------------ (In thousands) GAAP Cost of sales in the Condensed Consolidated Income Statements $ 274,171 $ 289,506 $ 8,060 $ 571,737 Less: Adjustments to reconcile to Non-GAAP Segment cash cost of coal sales Diesel fuel risk management derivative settlements classified in "other income" - (1,008) - (1,008) Transportation costs 96,054 21,721 - 117,775 Cost of coal sales from idled or otherwise disposed operations - - 5,178 5,178 Other (operating overhead, certain actuarial, etc.) - - 2,882 2,882 Non-GAAP Segment cash cost of coal sales $ 178,117 $ 268,793 $ - $ 446,910 =========================== =========================== ============================= ======================== Tons sold 2,155 17,021 Cash cost per ton sold $ 82.66 $ 15.79 Arch Resources, Inc. and Subsidiaries Reconciliation of Non-GAAP Measures (In thousands) Adjusted EBITDA Adjusted EBITDA is defined as net income attributable to the Company before the effect of net interest expense, income taxes, depreciation, depletion and amortization, accretion on asset retirement obligations and nonoperating expenses. Adjusted EBITDA may also be adjusted for items that may not reflect the trend of future results by excluding transactions that are not indicative of the Company's core operating performance. Adjusted EBITDA is not a measure of financial performance in accordance with generally accepted accounting principles, and items excluded from Adjusted EBITDA are significant in understanding and assessing our financial condition. Therefore, Adjusted EBITDA should not be considered in isolation, nor as an alternative to net income, income from operations, cash flows from operations or as a measure of our profitability, liquidity or performance under generally accepted accounting principles. The Company uses adjusted EBITDA to measure the operating performance of its segments and allocate resources to the segments. Furthermore, analogous measures are used by industry analysts and investors to evaluate our operating performance. Investors should be aware that our presentation of Adjusted EBITDA may not be comparable to similarly titled measures used by other companies. The table below shows how we calculate Adjusted EBITDA. Three Months Ended March 31, ------------------------------------------------------ 2024 2023 -------------------------- -------------------------- (Unaudited) Net income $ 55,953 $ 198,108 Provision for income taxes 3,719 37,138 Interest expense, net (1,784) 790 Depreciation, depletion and amortization 38,820 35,479 Accretion on asset retirement obligations 5,869 5,292 Non-service related pension and postretirement benefit (credits) costs 286 (592) Net loss resulting from early retirement of debt - 1,126 -------------------------- -------------------------- Adjusted EBITDA $ 102,863 $ 277,341 EBITDA from idled or otherwise disposed operations 3,697 4,032 Selling, general and administrative expenses 25,587 26,022 Other (1,681) 1,917 -------------------------- -------------------------- Segment Adjusted EBITDA from coal operations $ 130,466 $ 309,312 ========================== ========================== Segment Adjusted EBITDA Metallurgical 129,536 263,057 Thermal 930 46,255 -------------------------- -------------------------- Total Segment Adjusted EBITDA $ 130,466 $ 309,312 ========================== ========================== Discretionary cash flow Three Months Ended March 31, ------------------------------------------------------ 2024 2023 -------------------------- -------------------------- (Unaudited) Cash flow from operating activities $ 128,266 $ 126,121 Less: Capital expenditures (45,446) (30,541) -------------------------- -------------------------- Discretionary cash flow $ 82,820 $ 95,580 ========================== ==========================
  

• *DJ Arch Resources 1Q EPS $2.98 >ARCH, from 6:55AM ET on Thursday Apr 25, 2024 by Dow Jones

  6:55AM ET on Thursday Apr 25, 2024 by Dow Jones
  Companies Mentioned: ARCH
  --------------------------- --------------------------- ----------------------------- ------------------------ (In thousands) GAAP Cost of sales in the Condensed Consolidated Income Statements $ 297,251 $ 262,928 $ 7,544 $ 567,723 Less: Adjustments to reconcile to Non-GAAP Segment cash cost of coal sales Diesel fuel risk management derivative settlements classified in "other income" - (900) - (900) Transportation costs 94,261 37,486 - 131,747 Cost of coal sales from idled or otherwise disposed operations - - 4,289 4,289 Other (operating overhead, certain actuarial, etc.) - - 3,255 3,255 Non-GAAP Segment cash cost of coal sales $ 202,990 $ 226,342 $ - $ 429,332 =========================== =========================== ============================= ======================== Tons sold 2,152 12,821 Cash cost per ton sold $ 94.31 $ 17.65 Quarter ended December 31, 2023 Metallurgical Thermal All Other Consolidated --------------------------- --------------------------- ----------------------------- ------------------------ (In thousands) GAAP Cost of sales in the Condensed Consolidated Income Statements $ 278,100 $ 276,738 $ 12,365 $ 567,203 Less: Adjustments to reconcile to Non-GAAP Segment cash cost of coal sales Diesel fuel risk management derivative settlements classified in "other income" - (218) - (218) Transportation costs 76,241 24,533 - 100,774 Cost of coal sales from idled or otherwise disposed operations - - 9,805 9,805 Other (operating overhead, certain actuarial, etc.) - - 2,560 2,560 Non-GAAP Segment cash cost of coal sales $ 201,859 $ 252,423 $ - $ 454,282 =========================== =========================== ============================= ======================== Tons sold 2,333 15,536 Cash cost per ton sold $ 86.51 $ 16.25 Quarter ended March 31, 2023 Metallurgical Thermal All Other Consolidated --------------------------- --------------------------- ----------------------------- ------------------------ (In thousands) GAAP Cost of sales in the Condensed Consolidated Income Statements $ 274,171 $ 289,506 $ 8,060 $ 571,737 Less: Adjustments to reconcile to Non-GAAP Segment cash cost of coal sales Diesel fuel risk management derivative settlements classified in "other income" - (1,008) - (1,008) Transportation costs 96,054 21,721 - 117,775 Cost of coal sales from idled or otherwise disposed operations - - 5,178 5,178 Other (operating overhead, certain actuarial, etc.) - - 2,882 2,882 Non-GAAP Segment cash cost of coal sales $ 178,117 $ 268,793 $ - $ 446,910 =========================== =========================== ============================= ======================== Tons sold 2,155 17,021 Cash cost per ton sold $ 82.66 $ 15.79 Arch Resources, Inc. and Subsidiaries Reconciliation of Non-GAAP Measures (In thousands) Adjusted EBITDA Adjusted EBITDA is defined as net income attributable to the Company before the effect of net interest expense, income taxes, depreciation, depletion and amortization, accretion on asset retirement obligations and nonoperating expenses. Adjusted EBITDA may also be adjusted for items that may not reflect the trend of future results by excluding transactions that are not indicative of the Company's core operating performance. Adjusted EBITDA is not a measure of financial performance in accordance with generally accepted accounting principles, and items excluded from Adjusted EBITDA are significant in understanding and assessing our financial condition. Therefore, Adjusted EBITDA should not be considered in isolation, nor as an alternative to net income, income from operations, cash flows from operations or as a measure of our profitability, liquidity or performance under generally accepted accounting principles. The Company uses adjusted EBITDA to measure the operating performance of its segments and allocate resources to the segments. Furthermore, analogous measures are used by industry analysts and investors to evaluate our operating performance. Investors should be aware that our presentation of Adjusted EBITDA may not be comparable to similarly titled measures used by other companies. The table below shows how we calculate Adjusted EBITDA. Three Months Ended March 31, ------------------------------------------------------ 2024 2023 -------------------------- -------------------------- (Unaudited) Net income $ 55,953 $ 198,108 Provision for income taxes 3,719 37,138 Interest expense, net (1,784) 790 Depreciation, depletion and amortization 38,820 35,479 Accretion on asset retirement obligations 5,869 5,292 Non-service related pension and postretirement benefit (credits) costs 286 (592) Net loss resulting from early retirement of debt - 1,126 -------------------------- -------------------------- Adjusted EBITDA $ 102,863 $ 277,341 EBITDA from idled or otherwise disposed operations 3,697 4,032 Selling, general and administrative expenses 25,587 26,022 Other (1,681) 1,917 -------------------------- -------------------------- Segment Adjusted EBITDA from coal operations $ 130,466 $ 309,312 ========================== ========================== Segment Adjusted EBITDA Metallurgical 129,536 263,057 Thermal 930 46,255 -------------------------- -------------------------- Total Segment Adjusted EBITDA $ 130,466 $ 309,312 ========================== ========================== Discretionary cash flow Three Months Ended March 31, ------------------------------------------------------ 2024 2023 -------------------------- -------------------------- (Unaudited) Cash flow from operating activities $ 128,266 $ 126,121 Less: Capital expenditures (45,446) (30,541) -------------------------- -------------------------- Discretionary cash flow $ 82,820 $ 95,580 ========================== ==========================