Arch Coal’s Profit Falls, Misses Wall Street Goal

Reuters reported that shares of Arch Coal Inc (NYSE:ACI) fell on the announcement of Q3 profits that were lower than anticipated.

As quoted in the market news:

The company maintained its earnings estimates for the full-year, which had already been lowered, and cut its capital spending target. But it said it expected to benefit from strong demand from Asian steelmakers and post record export shipments this year. Net earnings were $19 million, or 9 cents per share, compared with $46.7 million, or 29 cents per share, a year earlier.

Click here to read the full Reuters report.