Alpha Announces First Quarter 2025 Financial Results
- Realizzazione delle vendite di carbone metallurgico diminuita a 118,61 dollari/tonnellata
- Flusso di cassa operativo sceso a 22,2 milioni di dollari
- Liquidità totale pari a 485,8 milioni di dollari
- Disminución en la realización de ventas de carbón metalúrgico a 118,61 dólares por tonelada
- Flujo de caja operativo reducido a 22,2 millones de dólares
- Liquidez total de 485,8 millones de dólares
- 금속탄 판매 실현 가격이 톤당 118.61달러로 감소
- 영업 현금 흐름이 2,220만 달러로 감소
- 총 유동성은 4억 8,580만 달러
- Réalisation des ventes de charbon métallurgique en baisse à 118,61 dollars la tonne
- Flux de trésorerie opérationnel réduit à 22,2 millions de dollars
- Liquidité totale s’élevant à 485,8 millions de dollars
- Erzielter Verkaufspreis für metallurgische Kohle sank auf 118,61 US-Dollar pro Tonne
- Operativer Cashflow sank auf 22,2 Millionen US-Dollar
- Gesamte Liquidität betrug 485,8 Millionen US-Dollar
- Increased ABL facility from $155M to $225M with extended maturity to 2029, enhancing liquidity position
- Strong liquidity position with $485.8 million total liquidity including $448.0 million cash
- Minimal debt with only $5.0 million in total long-term debt
- Reduced capital expenditure guidance by $27 million at midpoint to preserve cash
- Net loss of $33.9 million in Q1 2025, compared to $127.0 million profit in Q1 2024
- Adjusted EBITDA declined significantly to $5.7 million from $189.6 million year-over-year
- Reduced metallurgical coal shipment guidance for 2025 to 13.8-14.8 million tons
- Decreased coal sales realization to $118.61 per ton from $127.84 in previous quarter
- Higher production costs due to weather impacts
Insights
Alpha faces severe market challenges with significant Q1 losses, lower guidance, and liquidity protection measures amid metallurgical coal market deterioration.
Alpha Metallurgical Resources posted concerning Q1 2025 results with a net loss of $33.9 million ($2.60 per share), reflecting serious market deterioration and operational challenges. This represents a substantial decline from the $127 million profit ($9.59/share) in Q1 2024. Most alarming is the collapse in Adjusted EBITDA to just $5.7 million, down 97% from $189.6 million year-over-year and 89% sequentially from $53.2 million.
The company's performance was negatively impacted by two primary factors: severe weather disruptions in January-February and deteriorating metallurgical coal pricing. Met coal sales realizations fell to $118.61/ton, down from $127.84/ton in the previous quarter, while production costs increased to $110.34/ton from $108.82/ton. This compressed margins to dangerously thin levels.
In response to these challenges, Alpha has taken defensive measures to protect liquidity. The company successfully increased its ABL facility from $155 million to $225 million and extended the maturity to May 2029, providing additional financial flexibility. Alpha ended Q1 with $485.8 million in total liquidity, including $448 million in cash.
Management has implemented a strategic pullback, reducing 2025 capital expenditures by $27 million at the midpoint to a range of $130-150 million. They've also lowered shipment guidance for metallurgical coal to 13.8-14.8 million tons (previously 14.5-15.5 million tons) and thermal coal to 0.8-1.2 million tons (previously 1.0-1.4 million tons).
The company has only 50% of its metallurgical coal committed and priced for 2025 at an average of $133.04/ton, leaving significant exposure to market prices. With a Q1 cost-to-revenue ratio of 93% in the Met segment, the company has minimal cushion against further market deterioration. Alpha's prudent financial management and minimal debt ($5.0 million) provide some protection, but the fundamental market challenges appear significant and persistent.
- Reports first quarter net loss of
$33.9 million - Posts Adjusted EBITDA of
for the quarter$5.7 million - Increases size of ABL from
to$155 million through amended and extended agreement with new expiration of May 2029$225 million - Reduces metallurgical coal sales volume guidance range to 13.8 million to 14.8 million tons for the year; adjusts down range of thermal coal shipment expectations to 0.8 million to 1.2 million tons
- Lowers 2025 capex guidance range to
to$130 million $150 million
BRISTOL, Tenn., May 9, 2025 /PRNewswire/ -- Alpha Metallurgical Resources, Inc. (NYSE: AMR), a leading
(millions, except per share) | |||
Three months ended | |||
Mar. 31, 2025 | Dec. 31, 2024 | Mar. 31, 2024 | |
Net (loss) income | ( | ( | |
Net (loss) income per diluted share | ( | ( | |
Adjusted EBITDA(1) | |||
Operating cash flow | |||
Capital expenditures | ( | ( | ( |
Tons of coal sold | 3.8 | 4.1 | 4.4 |
1. These are non-GAAP financial measures. A reconciliation of Net Income to Adjusted EBITDA is included in tables accompanying the financial schedules. |
"Alpha's first quarter results reflect the challenging market environment we continue to experience, as well as significant impacts we previously disclosed related to severe weather conditions in January and February," said Andy Eidson, Alpha's chief executive officer. "These adverse weather events put pressure on our volumes and resulted in cost increases for the quarter. In light of the poor market conditions and economic uncertainty caused by shifting tariff and trade policies, we continue to prioritize the protection of our liquidity position. As a result, we have lowered our 2025 capex guidance by roughly
Todd Munsey, Alpha's chief financial officer, commented on the company's successful efforts to increase its asset-based revolving credit facility (ABL): "We are pleased to announce the increase in size of our ABL facility from
Financial Performance
Alpha reported a net loss of
Total Adjusted EBITDA was
Coal Revenues
(millions) | ||
Three months ended | ||
Mar. 31, 2025 | Dec. 31, 2024 | |
Met Segment | ||
Met Segment (excl. freight & handling)(1) | ||
Tons Sold | (millions) | |
Three months ended | ||
Mar. 31, 2025 | Dec. 31, 2024 | |
Met Segment | 3.8 | 4.1 |
1. Represents Non-GAAP coal revenues which is defined and reconciled under "Non-GAAP Financial Measures" and "Results of Operations." |
Coal Sales Realization(1)
(per ton) | ||
Three months ended | ||
Mar. 31, 2025 | Dec. 31, 2024 | |
Met Segment |
1. Represents Non-GAAP coal sales realization which is defined and reconciled under "Non-GAAP Financial Measures" and "Results of Operations." |
First quarter net realized pricing for the Met segment was
The table below provides a breakdown of our Met segment coal sold in the first quarter by pricing mechanism.
(in millions, except per ton data) | ||||
Met Segment Sales | Three months ended Mar. 31, 2025 | |||
Tons Sold | Coal Revenues | Realization/ton(1) | % of Met Tons | |
Export - Other Pricing Mechanisms | 1.0 | 29 % | ||
Domestic | 0.8 | 23 % | ||
Export - Australian Indexed | 1.7 | 48 % | ||
Total Met Coal Revenues | 3.5 | 100 % | ||
Thermal Coal Revenues | 0.3 | |||
Total Met Segment Coal Revenues | 3.8 |
1. Represents Non-GAAP coal sales realization which is defined and reconciled under "Non-GAAP Financial Measures" and "Results of Operations." |
Cost of Coal Sales
(in millions, except per ton data) | ||
Three months ended | ||
Mar. 31, 2025 | Dec. 31, 2024 | |
Met Segment | ||
Met Segment (excl. freight & handling/idle)(1) | ||
(per ton) | ||
Met Segment(1) |
1. Represents Non-GAAP cost of coal sales and Non-GAAP cost of coal sales per ton which is defined and reconciled under "Non-GAAP Financial Measures" and "Results of Operations." |
Alpha's Met segment cost of coal sales increased to an average of
Liquidity and Capital Resources
Cash provided by operating activities in the first quarter decreased to
As of March 31, 2025, the company had total liquidity of
Amended and Extended ABL Facility
On May 6, 2025, Alpha amended and extended its ABL agreement to increase the size of the facility to
Under the amended terms of the ABL facility, letters of credit fees will be calculated at a rate of
The ABL agreement limits the company's ability to make certain restricted payments, including the payment of cash dividends and the repurchase of equity shares under its share repurchase program, if the level of cash it maintains at Regions Bank falls below
Results of Alpha's 2025 Annual Meeting of Stockholders
The company's annual meeting of stockholders was held on May 7, 2025, and stockholders re-elected all six members of Alpha's board of directors to additional one-year terms and approved all other items proposed by the board for consideration at the meeting. The complete voting results from the annual meeting have been filed with the Securities and Exchange Commission on Form 8-K.
2025 Guidance Adjustments and Performance Update
Alpha is reducing 2025 shipment guidance for metallurgical tons to a range of 13.8 million to 14.8 million tons, down from the prior range of 14.5 million to 15.5 million tons. The company expects to ship between 0.8 million and 1.2 million tons of thermal coal for the year, down from the prior range of 1.0 million to 1.4 million tons. Alpha now expects total sales volumes of between 14.6 million and 16.0 million tons for 2025.
The company is also lowering its full-year 2025 guidance for capital expenditures. The new range is
As of May 1, 2025, Alpha has committed and priced approximately
2025 Guidance | ||
in millions of tons | Low | High |
Metallurgical | 13.8 | 14.8 |
Thermal | 0.8 | 1.2 |
Met Segment - Total Shipments | 14.6 | 16.0 |
Committed/Priced1,2,3 | Committed | Average Price |
Metallurgical - Domestic | ||
Metallurgical - Export | ||
Metallurgical Total | 50 % | |
Thermal | 100 % | |
Met Segment | 55 % | |
Committed/Unpriced1,3 | Committed | |
Metallurgical Total | 45 % | |
Thermal | — % | |
Met Segment | 42 % | |
Costs per ton4 | Low | High |
Met Segment | ||
In millions (except taxes) | Low | High |
SG&A5 | ||
Idle Operations Expense | ||
Net Cash Interest Income | ||
DD&A | ||
Capital Expenditures | ||
Capital Contributions to Equity Affiliates6 | ||
Cash Tax Rate | 0 % | 5 % |
Notes: | |
1. | Based on committed and priced coal shipments as of May 1, 2025. Committed percentage based on the midpoint of shipment guidance range. |
2. | Actual average per-ton realizations on committed and priced tons recognized in future periods may vary based on actual freight expense in future periods relative to assumed freight expense embedded in projected average per-ton realizations. |
3. | Includes estimates of future coal shipments based upon contract terms and anticipated delivery schedules. Actual coal shipments may vary from these estimates. |
4. | Note: The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP cost of coal sales per ton sold financial measures to the most directly comparable GAAP measures without unreasonable efforts due to the inherent difficulty in forecasting and quantifying with reasonable accuracy significant items required for the reconciliation. The most directly comparable GAAP measure, GAAP cost of sales, is not accessible without unreasonable efforts on a forward-looking basis. The reconciling items include freight and handling costs, which are a component of GAAP cost of sales. Management is unable to predict without unreasonable efforts freight and handling costs due to uncertainty as to the end market and FOB point for uncommitted sales volumes and the final shipping point for export shipments. These amounts have varied historically and may continue to vary significantly from quarter to quarter and material changes to these items could have a significant effect on our future GAAP results. |
5. | Excludes expenses related to non-cash stock compensation and non-recurring expenses. |
6. | Includes contributions to fund normal operations at our DTA export facility and expected capital investments related to the facility upgrades. |
Conference Call
The company plans to hold a conference call regarding its first quarter results on May 9, 2025, at 10:00 a.m. Eastern time. The conference call will be available live on the investor section of the company's website at https://alphametresources.com/investors. Analysts who would like to participate in the conference call should dial 877-407-0832 (domestic toll-free) or 201-689-8433 (international) approximately 15 minutes prior to start time.
About Alpha Metallurgical Resources
Alpha Metallurgical Resources (NYSE: AMR) is a
Forward-Looking Statements
This news release includes forward-looking statements. These forward-looking statements are based on Alpha's expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Alpha's control. Forward-looking statements in this news release or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Alpha to predict these events or how they may affect Alpha. Except as required by law, Alpha has no duty to, and does not intend to, update or revise the forward-looking statements in this news release or elsewhere after the date this release is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this news release may not occur. See Alpha's filings with the
FINANCIAL TABLES FOLLOW
Non-GAAP Financial Measures
The discussion below contains "non-GAAP financial measures." These are financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with generally accepted accounting principles in
Management uses non-GAAP financial measures to supplement GAAP results to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone. The definition of these non-GAAP measures may be changed periodically by management to adjust for significant items important to an understanding of operating trends and to adjust for items that may not reflect the trend of future results by excluding transactions that are not indicative of our core operating performance. Furthermore, analogous measures are used by industry analysts to evaluate the Company's operating performance. Because not all companies use identical calculations, the presentations of these measures may not be comparable to other similarly titled measures of other companies and can differ significantly from company to company depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which companies operate, capital investments and other factors.
Included below are reconciliations of non-GAAP financial measures to GAAP financial measures.
ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Amounts in thousands, except share and per share data) | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
Revenues: | |||
Coal revenues | $ 529,667 | $ 861,283 | |
Other revenues | 2,290 | 2,789 | |
Total revenues | 531,957 | 864,072 | |
Costs and expenses: | |||
Cost of coal sales (exclusive of items shown separately below) | 504,584 | 648,313 | |
Depreciation, depletion and amortization | 43,910 | 40,701 | |
Accretion on asset retirement obligations | 5,614 | 6,143 | |
Amortization of acquired intangibles, net | 1,357 | 1,675 | |
Selling, general and administrative expenses (exclusive of | 15,424 | 22,377 | |
Other operating loss | 1,243 | 2,985 | |
Total costs and expenses | 572,132 | 722,194 | |
(Loss) income from operations | (40,175) | 141,878 | |
Other (expense) income: | |||
Interest expense | (763) | (1,086) | |
Interest income | 4,046 | 3,971 | |
Equity loss in affiliates | (4,960) | (1,640) | |
Miscellaneous expense, net | (3,532) | (1,963) | |
Total other expense, net | (5,209) | (718) | |
(Loss) income before income taxes | (45,384) | 141,160 | |
Income tax benefit (expense) | 11,437 | (14,165) | |
Net (loss) income | $ (33,947) | $ 126,995 | |
Basic (loss) income per common share | $ (2.60) | $ 9.77 | |
Diluted (loss) income per common share | $ (2.60) | $ 9.59 | |
Weighted average shares – basic | 13,047,607 | 13,002,127 | |
Weighted average shares – diluted | 13,047,607 | 13,236,596 |
ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Amounts in thousands, except share and per share data) | |||
March 31, 2025 | December 31, 2024 | ||
Assets | |||
Current assets: | |||
Cash and cash equivalents | $ 447,990 | $ 481,578 | |
Trade accounts receivable, net of allowance for credit losses of | 341,991 | 362,141 | |
Inventories, net | 190,093 | 169,269 | |
Prepaid expenses and other current assets | 27,460 | 23,681 | |
Total current assets | 1,007,534 | 1,036,669 | |
Property, plant, and equipment, net of accumulated depreciation and | 629,045 | 634,871 | |
Owned and leased mineral rights, net of accumulated depletion and amortization | 435,852 | 443,467 | |
Other acquired intangibles, net of accumulated amortization of | 38,522 | 39,879 | |
Long-term restricted cash | 124,185 | 122,583 | |
Long-term restricted investments | 42,960 | 43,131 | |
Deferred income taxes | 6,852 | 6,516 | |
Other non-current assets | 115,550 | 111,592 | |
Total assets | $ 2,400,500 | $ 2,438,708 | |
Liabilities and Stockholders' Equity | |||
Current liabilities: | |||
Current portion of long-term debt | $ 2,669 | $ 2,916 | |
Trade accounts payable | 110,195 | 96,633 | |
Accrued expenses and other current liabilities | 147,293 | 151,560 | |
Total current liabilities | 260,157 | 251,109 | |
Long-term debt | 2,365 | 2,868 | |
Workers' compensation and black lung obligations | 181,278 | 182,961 | |
Pension obligations | 99,830 | 100,597 | |
Asset retirement obligations | 191,970 | 189,805 | |
Deferred income taxes | 29,709 | 40,486 | |
Other non-current liabilities | 20,353 | 21,385 | |
Total liabilities | 785,662 | 789,211 | |
Commitments and Contingencies | |||
Stockholders' Equity | |||
Preferred stock - par value | — | — | |
Common stock - par value | 224 | 224 | |
Additional paid-in capital | 841,870 | 839,804 | |
Accumulated other comprehensive loss | (48,995) | (50,082) | |
Treasury stock, at cost: 9,383,556 shares at March 31, 2025 and 9,366,935 | (1,300,700) | (1,296,916) | |
Retained earnings | 2,122,439 | 2,156,467 | |
Total stockholders' equity | 1,614,838 | 1,649,497 | |
Total liabilities and stockholders' equity | $ 2,400,500 | $ 2,438,708 |
ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Amounts in thousands) | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
Operating activities: | |||
Net (loss) income | $ (33,947) | $ 126,995 | |
Adjustments to reconcile net (loss) income to net cash provided by operating | |||
Depreciation, depletion and amortization | 43,910 | 40,701 | |
Amortization of acquired intangibles, net | 1,357 | 1,675 | |
Amortization of debt issuance costs and accretion of debt discount | 280 | 280 | |
(Gain) loss on disposal of assets | (37) | 1,610 | |
Accretion on asset retirement obligations | 5,614 | 6,143 | |
Employee benefit plans, net | 5,618 | 3,833 | |
Deferred income taxes | (11,416) | 1,614 | |
Stock-based compensation | 3,437 | 2,769 | |
Equity loss in affiliates | 4,960 | 1,640 | |
Other, net | (145) | (197) | |
Changes in operating assets and liabilities | 2,550 | 9,011 | |
Net cash provided by operating activities | 22,181 | 196,074 | |
Investing activities: | |||
Capital expenditures | (38,450) | (63,618) | |
Proceeds on disposal of assets | 81 | 287 | |
Purchases of investment securities | (14,663) | (7,230) | |
Sales and maturities of investment securities | 15,080 | 10,172 | |
Capital contributions to equity affiliates | (9,836) | (8,476) | |
Other, net | 13 | 6 | |
Net cash used in investing activities | (47,775) | (68,859) | |
Financing activities: | |||
Principal repayments of long-term debt | (480) | (632) | |
Dividend and dividend equivalents paid | (415) | (3,000) | |
Common stock repurchases and related expenses | (5,155) | (116,089) | |
Other, net | (342) | (306) | |
Net cash used in financing activities | (6,392) | (120,027) | |
Net (decrease) increase in cash and cash equivalents and restricted cash | (31,986) | 7,188 | |
Cash and cash equivalents and restricted cash at beginning of period | 604,161 | 384,125 | |
Cash and cash equivalents and restricted cash at end of period | $ 572,175 | $ 391,313 | |
Supplemental disclosure of noncash investing and financing activities: | |||
Accrued capital expenditures | $ 10,785 | $ 14,525 | |
Accrued common stock repurchases and stock repurchase excise tax | $ — | $ 4,665 | |
Accrued dividend payable | $ 90 | $ 525 |
The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Condensed Consolidated Statements of Cash Flows.
As of March 31, | |||
2025 | 2024 | ||
Cash and cash equivalents | $ 447,990 | $ 269,386 | |
Long-term restricted cash | 124,185 | 121,927 | |
Total cash and cash equivalents and restricted cash shown in the | $ 572,175 | $ 391,313 |
ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES ADJUSTED EBITDA RECONCILIATION (Amounts in thousands) | |||||
Three Months Ended | |||||
March 31, 2025 | December 31, 2024 | March 31, 2024 | |||
Net (loss) income | $ (33,947) | $ (2,129) | $ 126,995 | ||
Interest expense | 763 | 583 | 1,086 | ||
Interest income | (4,046) | (4,952) | (3,971) | ||
Income tax (benefit) expense | (11,437) | 7,815 | 14,165 | ||
Depreciation, depletion and amortization | 43,910 | 40,836 | 40,701 | ||
Non-cash stock compensation expense | 3,437 | 3,001 | 2,769 | ||
Accretion on asset retirement obligations | 5,614 | 6,324 | 6,143 | ||
Amortization of acquired intangibles, net | 1,357 | 1,675 | 1,675 | ||
Adjusted EBITDA | $ 5,651 | $ 53,153 | $ 189,563 |
ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES RESULTS OF OPERATIONS | |||||
Three Months Ended | |||||
(In thousands, except for per ton data) | March 31, 2025 | December 31, 2024 | March 31, 2024 | ||
Coal revenues | $ 529,667 | $ 615,383 | $ 861,283 | ||
Less: Freight and handling fulfillment revenues | (83,924) | (96,087) | (133,724) | ||
Non-GAAP Coal revenues | $ 445,743 | $ 519,296 | $ 727,559 | ||
Non-GAAP Coal sales realization per ton | $ 118.61 | $ 127.84 | $ 166.68 | ||
Cost of coal sales (exclusive of items shown separately below) | $ 504,584 | $ 540,754 | $ 648,313 | ||
Depreciation, depletion and amortization - production (1) | 43,592 | 40,525 | 40,396 | ||
Accretion on asset retirement obligations | 5,614 | 6,324 | 6,143 | ||
Amortization of acquired intangibles, net | 1,357 | 1,675 | 1,675 | ||
Total Cost of coal sales | 555,147 | 589,278 | 696,527 | ||
Less: Freight and handling costs | (83,924) | (96,087) | (133,724) | ||
Less: Depreciation, depletion and amortization - production (1) | (43,592) | (40,525) | (40,396) | ||
Less: Accretion on asset retirement obligations | (5,614) | (6,324) | (6,143) | ||
Less: Amortization of acquired intangibles, net | (1,357) | (1,675) | (1,675) | ||
Less: Idled and closed mine costs | (5,991) | (2,650) | (9,775) | ||
Non-GAAP Cost of coal sales | $ 414,669 | $ 442,017 | $ 504,814 | ||
Non-GAAP Cost of coal sales per ton | $ 110.34 | $ 108.82 | $ 115.65 | ||
GAAP Coal margin | $ (25,480) | $ 26,105 | $ 164,756 | ||
GAAP Coal margin per ton | $ (6.78) | $ 6.43 | $ 37.74 | ||
Non GAAP Coal margin | $ 31,074 | $ 77,279 | $ 222,745 | ||
Non GAAP Coal margin per ton | $ 8.27 | $ 19.02 | $ 51.03 | ||
Tons sold | 3,758 | 4,062 | 4,365 |
(1) | Depreciation, depletion and amortization - production excludes the depreciation, depletion and amortization related to selling, general and administrative functions. |
Three Months Ended March 31, 2025 | |||||||
(In thousands, except for per ton data) | Tons Sold | Coal Revenues | Non-GAAP | % of Met Tons | |||
Export - other pricing mechanisms | 985 | $ 117,600 | $ 119.39 | 29 % | |||
Domestic | 806 | 125,365 | $ 155.54 | 23 % | |||
Export - Australian indexed | 1,662 | 178,563 | $ 107.44 | 48 % | |||
Total Met segment - met coal | 3,453 | 421,528 | $ 122.08 | 100 % | |||
Met segment - thermal coal | 305 | 24,215 | $ 79.39 | ||||
Non-GAAP Coal revenues | 3,758 | 445,743 | $ 118.61 | ||||
Add: Freight and handling fulfillment revenues | — | 83,924 | |||||
Coal revenues | 3,758 | $ 529,667 |
INVESTOR & MEDIA CONTACT: EMILY O'QUINN
InvestorRelations@AlphaMetResources.com
CorporateCommunications@AlphaMetResources.com
(423) 573-0369
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SOURCE ALPHA METALLURGICAL RESOURCES, INC.