Arch Coal has reported a net loss of US$168 million in 2Q15 on revenues of US$644 million.
“Arch continues to weather the significant market challenges facing the industry,” said Jown W. Eaves, Arch’s Chairmand and CEO. “Even with the lowest shipment level experienced by Arch in more than five years and shipping challenges in the Powder River Basin, our operations continued to an outstanding job of managing costs in this environment. In fact, all of our operating regions were cash flow positive during the first half of this year.”
The company now expects US coal production to fall by over 90 million short t in 2015 with its full guidance now in the 120 – 124 million short t range. Meanwhile, US coal consumption will fall 80 million short t, the company said.
Written by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/mining/03082015/arch-coal-announces-2q15-loss-2666/