Arch Coal Reports Net Loss of $70 Million for Q1

Arch Coal, Inc. (NYSE:ACI)  reported first quarter results, including a net loss of $70 million, or $0.33 per diluted share.

As quoted in the press release:

Revenues totaled $826 million in the first quarter of 2013 on lower sales volumes compared with the prior-year quarter. Adjusted earnings before interest, taxes, depreciation, depletion and amortization were $84 million in the first quarter of 2013 versus $180 million a year ago. First quarter 2013 results include a pre-tax charge of $10.5 million related to minimum throughput fees as required under Arch’s existing port and logistics agreements.

Arch’s President and CEO, John W. Eaves, said:

Positive catalysts, such as normalized weather and higher competing fuel prices, are improving the outlook for the domestic thermal market, our largest market by volume. We expect these trends to continue to reduce customer coal stockpiles throughout 2013 and to create a more balanced U.S. coal market thereafter. Globally, we believe metallurgical and thermal coal markets are in the process of stabilizing, and we anticipate gradual improvement as we progress through the remainder of the year.

To view the whole press release, click here.