Arch Coal’s Adjusted Net Loss Hits $60.5 Million for Q2 2013

Arch Coal Inc. (NYSE:ACI) announced its results for the second quarter of 2013, commenting that it recorded an adjusted net loss of $60.5 million, equivalent to $0.29 per diluted share. That’s up from an adjusted net loss of $22.1 million ($0.10 per diluted share) in the year-ago quarter.

As quoted in the press release:

Arch reported second quarter 2013 revenues of $766 million, representing a decline versus the prior-year quarter and reflective of overall weakness in the metallurgical coal markets compared with the year-ago period. Adjusted earnings before interest, taxes, depreciation, depletion and amortization (“EBITDA”) totaled $110.5 million in the second quarter of 2013 compared with $180.9 million in the second quarter of 2012 and $83.6 million in the first quarter of 2013, representing an increase of 32 percent versus the prior-quarter period. Arch’s second quarter 2013 adjusted EBITDA excludes an asset impairment charge of $20.5 million related to an investment in a clean coal power plant project that was cancelled.

Click here to read the full Arch Coal Inc. (NYSE:ACI) press release.