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Alpha Natural Resources Inc. (NYSE:ANR) announced yesterday its results for the fourth quarter of 2013, as well as for 2013 as a whole, commenting that during Q4 it saw a net loss of $359 million.
Alpha Natural Resources Inc. (NYSE:ANR) announced yesterday its results for the fourth quarter of 2013, as well as for 2013 as a whole, commenting that during Q4 it saw a net loss of $359 million. That’s nearly triple the $128-million net loss Alpha recorded in the year-ago quarter.
The company also remarked that there have been “positive developments” in thermal coal pricing, though metallurgical markets “continue to be very challenging.”
Other highlights include:
- Fourth quarter and full year 2013 revenue and adjusted EBITDA were $1.1 billion and $5.0 billion, respectively, and $71 million and $299 million, respectively
- Achieved lowest rate of reported injuries in Alpha’s history in 2013
- Strong cost improvement in the 4th quarter primarily driven by resumed Cumberland production
- Agreed to monetize portion of Marcellus shale gas acreage through an exchange with Rice Energy
- Opportunistically accessed capital markets to extend maturity profile of debt obligations
- Maintained solid liquidity position at approximately $1.9 billion, including nearly $1 billion in cash and marketable securities
Click here to read the full Alpha Natural Resources Inc. (NYSE:ANR) press release.