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Arch Resources
Arch Resources (ARCH) investor relations material
Arch Resources has been delisted
Arch Resources Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2024 earnings summary5 Nov, 2024
Executive summary
Q3 2024 was marked by a net loss of $6.2 million and revenue decline to $617.9 million, driven by softness in global metallurgical coal markets and oversupply in domestic thermal coal markets.
Announced and advanced a definitive all-stock merger agreement with CONSOL Energy, with all international and HSR approvals secured and closing expected by Q1 2025, pending shareholder votes.
Managed a three-week shiploader outage, reducing coking coal shipments by 200,000 tons and ending Q3 with 500,000 tons in inventory.
Initiated a voluntary separation plan in the Thermal segment to align workforce with lower sales volumes.
Declared a $0.25/share dividend ($4.6M total) payable in November 2024.
Financial highlights
Q3 2024 revenue was $617.9 million, down 17% year-over-year; net loss of $6.2 million compared to net income of $73.7 million in Q3 2023.
Adjusted EBITDA for Q3 2024 was $44.2 million, down from $126.3 million in Q3 2023.
Cash provided by operations for the nine months was $212.4 million, with $24.9 million in Q3, and ended Q3 with $255.9 million in cash and short-term investments.
Paid down $5.1 million in debt during Q3; total debt at September 30, 2024: $126.9 million (current), $105.3 million (long-term).
Over $1.3 billion returned to shareholders since February 2022, including $736 million in dividends and $614.7 million in share/debt repurchases.
Outlook and guidance
Both metallurgical and thermal segments are expected to improve in 2025, with cost reductions, higher margins, and improved operational execution at Leer and Leer South mines.
Most lower-priced legacy contracts at West Elk mine expected to expire by year-end 2024, with new contracts up to $30/ton higher.
Formal guidance discontinued due to the pending merger; minimum liquidity target of $250–$300 million to be maintained.
Expect continued volatility in coking coal prices and domestic thermal coal demand to remain pressured by high utility stockpiles and low gas prices.
Detail key areas for merger synergy realization
What drives West Elk's improved 2025 performance?
How will Appalachian supply respond to soft market?
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Arch Resources
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Frequently asked questions
Arch Resources Inc is a coal producer engaged in the mining, processing, and sale of metallurgical and thermal coal. The company supplies metallurgical coal to steel producers and thermal coal to power generators primarily in North America and international markets. It operates through a network of surface and underground mines with logistics infrastructure supporting its distribution. The company is headquartered in St. Louis, Missouri, and its shares are listed on the NYSE.
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