Alpha Metallurgical Resources, Inc.

Alpha Metallurgical Resources, Inc. Earnings Recaps

AMR Materials 2 recaps
Q1 2026 May 9, 2026

Shares fell 4.8% following the quarter as investors reacted negatively to margin compression driven by rising costs and a cautious cost outlook, despite modest volume and cash flow improvements.

Key takeaways
  • Adjusted EBITDA rose slightly to $30 million from $28.5 million year-over-year, but cost of coal sales increased notably to $107.98 per ton from $101.43 in Q4, driven by higher diesel and supply expenses.
  • Metallurgical coal sales volumes declined to 3.6 million tons from 3.8 million tons in the prior quarter, reflecting some underlying demand weakness.
  • Realizations improved for metallurgical coal to a weighted average of $128.40 per ton, helped by supply issues in Australia, though incidental thermal coal prices softened to $69.41 per ton.
  • SG&A expenses excluding non-cash items rose to $13.5 million, up from $10.9 million, indicating higher operating costs beyond raw coal expenses.
  • Management flagged the potential for upward revisions to cost guidance if inflationary impacts from the Iranian conflict persist, underscoring a cautious outlook that weighed on investor sentiment.
Full recap
Q3 2025 Nov 7, 2025

Alpha Metallurgical Resources delivered solid Q3 results with adjusted EBITDA of $41.7 million and continued cost discipline, achieving the best cost of coal sales since 2021 at $97.27 per ton, though faced with declining metallurgical coal realizations.

Key takeaways
  • Adjusted EBITDA declined to $41.7 million from $46.1 million in Q2, maintaining shipment volumes of 3.9 million tons.
  • Metallurgical segment realizations decreased to a weighted-average of $117.62 per ton, down from $122.84 per ton in Q2.
  • Cost of coal sales successfully reduced to $97.27 per ton for the second consecutive quarter.
  • Unrestricted cash totaled $408.5 million, with total liquidity reaching $568.5 million, reflecting effective cash management.
  • Development production commenced at the Kingston Wildcat mine, targeting a full annual run rate of approximately 1 million tons by 2026.
Full recap