Skip to main content

Armstrong Energy announces Q3 2014 results

Published by
World Coal,

Armstrong Energy clocked up a loss of US$7.8 million in Q3 despite reporting a rise of US$700,000 in coal sales revenues for the quarter. This compares to a loss of US$7.9 million over the same period last year.

In the nine months to September, the company lost US$17.2 million – down from a US$18.9 million loss over the same period in 2013. Coal sales revenues for the nine-month period were up US$25.4 million year-on-year to US$336.1 million.

The increase in coal sales revenues was attributable to “favourable volume variance of approximately 0.3 million short t […] and a favourable price variance of US$13 million year-over-year due to favourable customer mix and higher year-over-year contract prices,” the company said in a statement.

Anticipated coal sales for the rest of the year are all committed at an average price of US$46.85. Looking forward to 2015, the company said it had 8.7 million short to priced and committed at an average price of US$48.18.

Amrstrong Energy currently operates seven coal mines in the Illinois Basin in western Kentucky with about 570 million t of proven and probable coal reserves.

Written by .

Read the article online at:

You might also like


QRC asks for legislation clarity

The Queensland Resources Council recently appeared before the committee reviewing the ‘Environmental Protection and Other Legislation Amendment Bill 2020’ and urged it to recommend the state government clarify aspects of the legislation.


Embed article link: (copy the HTML code below):