Arch Coal has taken the unusual step of providing preliminary third quarter results ahead of the release of its third quarter earnings report on 28 October. In a statement, the company said it was releasing the preliminary results “in light of the recent unprecedented market conditions.” The preliminary results include the company’s financial performance in Q3 and liquidity position.
According to the release, the company expects to record EBITDA of US$ 70 – 74 million, up from US$ 65 million in Q2. It also holds US$ 1.05 billion in cash and short-term investments compared with about US$990 million at the end of June. Available liquidity – which includes its cash position and undrawn borrowings from its credit facilities – totaled US$ 1.3 billion.
Written by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/coal/13102014/world-coal-arch-coal-announces-preliminary-q3-results-coal1408/