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Contura Energy posts net income of $10.2M in Q3

Contura Energy Inc. on Nov. 27 reported net income of $10.2 million, or 93 cents per share, in the third quarter, compared with a loss of $45.8 million, or $4.44 per share, in the same quarter a year earlier.

The S&P Capital IQ consensus normalized earnings estimate for the third quarter was $1.41 per share.

Revenue was $482.9 million, compared with $245.4 million in the same quarter a year earlier.

The company sold 12.8 million tons of coal in the most recent quarter, attaining an average sales price of $32.78 per ton.

Contura, which was spun out of the bankruptcy reorganization of Alpha Natural Resources Inc., canceled a planned IPO in August, saying market conditions would undervalue the company. It has since sought to repurchase up to $31.8 million of its common stock.