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Contura Energy posts decline in net income in Q2 from previous year

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Contura Energy posts decline in net income in Q2 from previous year

On Aug. 14, Contura Energy Inc. reported net income from continuing operations in the second quarter of $24.3 million or $1.25 per share, compared with $74.6 million, or $7.24 per share, in the year-ago period.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was $1.58, based on three analysts.

The coal producer booked adjusted EBITDA in the second quarter 2019 of $140.8 million, up from $86.1 million in the prior-year period.

Revenue for the period was $656.2 million, compared with $528.9 million in the second quarter a year earlier.

Contura sold 6.4 million tons of coal in the quarter, compared with 4.4 million tons in the same quarter a year earlier. The average sales price was $87.16 per ton, compared with $80.86 in the second quarter a year earlier.

Additionally, the company lowered its full-year 2019 coal shipments guidance to a range of 23.9 million to 25.6 million tons, from the previously announced range of 24.6 million to 26.7 million tons.