Alpha Metallurgical Resources Inc Stock Price, News & Analysis

Alpha Metallurgical Resources (NYSE: AMR) will announce its second quarter 2022 financial results before market opening on August 8, 2022. A conference call will follow at 10:00 a.m. ET, featuring key executives, including CEO David Stetson. The call will be available on the investor section of their website. Alpha, based in Tennessee, supplies metallurgical products globally and operates in Virginia and West Virginia. Investors are advised to consider the risks associated with forward-looking statements related to the company's performance.

Alpha Metallurgical Resources (NYSE: AMR) announced that it has fully paid off its term loan, eliminating long-term debt totaling $99.4 million. This significant milestone contributes to the over $550 million paid off within a year. The company also revealed a $600 million share repurchase program, having repurchased 860,934 shares for $126.3 million. Additionally, Alpha received a $40.1 million reduction in collateral requirements due to improved financial conditions, enhancing liquidity by $56.6 million, further solidifying its balance sheet.

Alpha Metallurgical Resources (NYSE: AMR) issued a statement on May 17, 2022, denouncing a report from an activist short-selling firm that contained inaccuracies about its operations. CEO David Stetson emphasized the company's commitment to ethical practices and transparency, asserting that the report aims to negatively impact its stock value. The Board of Directors expressed confidence in the management team, highlighting strong quarterly results, a deleveraged balance sheet, and a newly increased $600 million share repurchase plan, alongside the establishment of a quarterly dividend.

Alpha Metallurgical Resources (NYSE: AMR) reported first-quarter 2022 net income of $401.0 million, equating to $20.52 per diluted share, a significant increase from $254.5 million or $13.30 per share in the previous quarter. Adjusted EBITDA reached $503.8 million, up from $315.8 million. The company is aggressively reducing debt, with term loan borrowings now under $100 million. A new annual cash dividend of $1.50 per share was declared, alongside an increase in the share repurchase program to $600 million. Full-year metallurgical coal cost guidance was raised due to higher market prices.

Alpha Metallurgical Resources (NYSE: AMR) will release its first quarter 2022 financial results on May 5, 2022, before market opening. A conference call to discuss these results is scheduled for 10:00 a.m. ET the same day, featuring key executives including CEO David Stetson and CFO Andy Eidson. Investors can join the call by dialing 844-200-6205 for domestic or 929-526-1599 for international participants. The results will significantly inform stakeholders about the company's financial health and operational performance.

Alpha Metallurgical Resources (NYSE: AMR) reported a strong Q4 2021, achieving a net income of $254.5 million, or $13.30 per diluted share, a significant increase from $83.7 million in Q3 2021. Adjusted EBITDA stood at $315.8 million, up from $148.2 million in the prior quarter. The company continued its debt reduction strategy, reducing long-term debt to under $300 million. A $150 million share repurchase program was approved to enhance shareholder value. Alpha plans to eliminate its long-term debt this year if coal markets remain favorable.

Alpha Metallurgical Resources (NYSE: AMR) will announce its fourth quarter and full year 2021 financial results on March 7, 2022, before the market opens. A conference call will follow at 10:00 a.m. ET, featuring key executives including CEO David Stetson. The call aims to discuss the financial performance extensively. Investors can access the call via the company's investor website. For more information, visit www.AlphaMetResources.com.

Alpha Metallurgical Resources, Inc. (NYSE: AMR) announced the promotion of Dan Horn to executive vice president and chief commercial officer, effective January 25, 2022. Horn, who has four decades of industry experience, previously served as president of Alpha Metallurgical Coal Sales and has held senior roles at Contura Energy and Alpha Natural Resources. CEO David Stetson praised Horn's leadership skills, emphasizing his vital role in the company. Alpha Metallurgical focuses on providing metallurgical products for the steel industry and operates in Virginia and West Virginia.

Alpha Metallurgical Resources (NYSE: AMR) successfully refinanced its Asset-Based Revolving Credit Facility (ABL), now totaling $155 million and maturing in December 2024. The facility includes $125 million for letters of credit and $25 million uncommitted on a cash collateralized basis. This refinancing aims to strengthen the company's balance sheet, despite a reduced total capacity compared to prior agreements. The interest rates for letters of credit are set at 5.25% with loans drawn linked to the secured overnight financing rate (SOFR).