Thu, Jul 25, 7:18 PM (44 days ago)
Arch Resources, Inc. reported a decrease in revenue and net income for Q2 2024 compared to Q2 2023. Revenue declined by 19.6% to $608.8 million, and net income dropped to $14.8 million from $77.4 million. The primary factors were lower sales volumes and pricing in both metallurgical and thermal coal segments. Metallurgical coal sales were impacted by weaker global demand and logistical disruptions due to the collapse of the Francis Scott Key Bridge. Thermal coal sales faced challenges from decreased domestic demand and increased renewable energy competition. The company maintained strong liquidity with $279.3 million in cash and short-term investments and total liquidity of $366.3 million. Capital expenditures were $92.4 million, and $63.8 million was returned to shareholders through dividends and share repurchases. Arch Resources remains committed to returning 100% of its excess cash flow to shareholders. Future uncertainties include market volatility, regulatory changes, and challenges in the coal industry. The company continues to prioritize maintaining a strong financial position and adapting to market conditions.