Arch Coal Reports Strong 3Q Results, Raises 2010 Forecast

The Toronto Star.com reports that Arch Coal (NYSE:ACI) has announced stronger than expected Q3 results, and has consequently raised its’ forecast for 2010.

The story is quoted as saying:

Arch Coal ACI reported an excellent third quarter, driven by strong Powder River Basin margins. Costs in the PRB once again declined sequentially and year over year, to $9.08 per ton. Even with lower selling prices, margins expanded to $3.04 per ton, the highest in four years. Including this quarter, costs have declined sequentially every quarter since the first quarter of 2009. On the back of these results, Arch raised its 2010 EBITDA guidance slightly, to $750 million-$790 million from $718 million-$790 million). This did not have a material effect on our fair value estimate.

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