Arch Resources, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 15, 2024 at 06:50 am EST
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Arch Resources, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 774.02 million compared to USD 859.46 million a year ago. Net income was USD 114.89 million compared to USD 470.47 million a year ago. Basic earnings per share from continuing operations was USD 6.26 compared to USD 26.28 a year ago. Diluted earnings per share from continuing operations was USD 6.07 compared to USD 23.18 a year ago.
For the full year, sales was USD 3,145.84 million compared to USD 3,724.59 million a year ago. Net income was USD 464.04 million compared to USD 1,330.91 million a year ago. Basic earnings per share from continuing operations was USD 25.45 compared to USD 77.67 a year ago. Diluted earnings per share from continuing operations was USD 24.2 compared to USD 63.88 a year ago.
Arch Resources, Inc. is a coal producer and a producer of metallurgical coal. The Company sells substantially all of its coal to steel mills, power plants and industrial facilities. It is a producer of metallurgical products for the global steel industry, and the supplier of High-Vol A metallurgical coal globally. The Company has two distinct lines of business, metallurgical and thermal, and may include a number of mine complexes. It operates about seven active mines located in three of the major coal-producing regions of the United States. Leer and Leer South longwall mines anchor its large-scale, first quartile metallurgical franchise. The Leer and Leer South operations are complemented by the Beckley and Mountain Laurel continuous miner mines, which in aggregate provide it with a full suite of metallurgical products for sale in the global metallurgical market. The Company also operates thermal mines in the Powder River Basin and Colorado that produce thermal coal.