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Coal supplier Contura Energy reports 2017 net income of $154.5 million

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Essential Energy Insights - January 2021


Coal supplier Contura Energy reports 2017 net income of $154.5 million

Contura Energy Inc. reported net income of $154.5 million on 15.7 million tons of coal sold in 2017.

The coal company was spun out of the bankruptcy reorganization of Alpha Natural Resources Inc. and recently divested itself of Powder River Basin coal mine assets for a $50 million consideration to focus on Appalachian coal operations. The company reported adjusted EBITDA from continuing and discontinued operations of $44.7 million for the fourth quarter and $300.2 million for the full year in its fourth-quarter earnings report released March 29.

"Contura's first full year of operation was a very busy and successful one," said Contura CEO Kevin Crutchfield. "I have every expectation that 2018 will be another safe and productive year for the company as we continue to consider additional strategic actions for the benefit of our shareholders and employees."

Contura is maintaining previously announced 2018 guidance of coal shipments in the range of 15.0 million to 16.8 million tons across all operations. That guidance includes 3.7 million to 4.1 million tons of captive Central Appalachia metallurgical coal and another 4.2 million to 5.0 million tons of metallurgical coal through its trading and logistics segment. Contura's Northern Appalachia shipments, primarily sold for power generation, are anticipated to be between 7.1 million and 7.7 million tons in 2018.

The company also reported it has repurchased 839,310 shares for $49.2 million over the course of the year and paid $100.7 million in special dividends in 2017.