Alpha Metallurgical Resources, Inc., a US supplier of metallurgical products for the steel industry, has announced its preliminary sales volumes and realisations for 3Q23 and revised full year 2023 guidance.
“Alpha’s third quarter was negatively impacted by a number of factors that warrant an announcement to the market ahead of our earnings release on November 2,” said Andy Eidson, Alpha’s Chief Executive Officer.
“We have also tightened and adjusted our full-year guidance ranges for shipment volumes and Met segment cost of coal sales to provide investors with additional visibility into how we expect the year to conclude. On top of some weather-related problems that caused vessel delays in the quarter, we experienced mechanical issues at DTA that hampered the ability to load and ship our coal. We expect to provide additional information soon regarding our analysis of DTA’s long-range capital improvement needs to strengthen its efficiency and restore capacity lost to recurrent operational interruptions.”
Eidson continued: “Along with lower-than-expected shipment volumes in the quarter, we sold some lower-priced tonnes from the development areas at new mines during the pricing trough early in the quarter, which negatively impacted our average realisations for the period.”
Read the article online at: https://www.worldcoal.com/coal/24102023/alpha-announces-preliminary-sales-volumes-and-realisations-for-3q23/
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