BRISTOL, Tenn. — Alpha Metallurgical Resources Inc. reported a first quarter net loss of $33.9 million or $2.60 per diluted share.
The company, a leading U.S. supplier of metallurgical products for the steel industry, recently posted its financial results for the first quarter ending March 31, 2025.
Notable details include:
- Adjusted EBITDA of $5.7 million for the quarter
- Increases size of ABL from $155 million to $225 million through amended and extended agreement with new expiration of May 2029
- Reduces metallurgical coal sales volume guidance range to 13.8 million to 14.8 million tons for the year
- Adjusts down range of thermal coal shipment expectations to 0.8 million to 1.2 million tons
- Lowers 2025 capex guidance range to $130 million to $150 million.
“Alpha’s first quarter results reflect the challenging market environment we continue to experience, as well as significant impacts we previously disclosed related to severe weather conditions in January and February,” said Andy Eidson, Alpha’s chief executive officer. “These adverse weather events put pressure on our volumes and resulted in cost increases for the quarter. In light of the poor market conditions and economic uncertainty caused by shifting tariff and trade policies, we continue to prioritize the protection of our liquidity position.
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“As a result, we have lowered our 2025 capex guidance by roughly $27 million at the midpoint; we believe this is achievable without any negative impact to safety across the portfolio or the on-track progress of development mining at our new Kingston Wildcat low vol mine,” he said.
Todd Munsey, Alpha’s chief financial officer, commented on the company’s successful efforts to increase its asset-based revolving credit facility (ABL).
“We are pleased to announce the increase in size of our ABL facility from $155 million to $225 million along with an extension of the maturity to May of 2029. The amended facility provides Alpha access to additional liquidity and we value the optionality that this facility provides,” Munsey said.
Alpha reported a net loss of $33.9 million, or $2.60 per diluted share, for the first quarter 2025, as compared to net loss of $2.1 million, or $0.16 per diluted share, in the fourth quarter 2024.
Total Adjusted EBITDA was $5.7 million for the first quarter, compared to $53.2 million in the fourth quarter 2024.
Coal revenues for the three months ending March 31 were $529.7 million for metallurgical coal compared to $615.4 for the same period in 2024.
Alpha sold 3.8 million tons of coal during the period, compared to 4.1 million in 2024.