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Arch Coal Q3 net income drops YOY but tops analyst expectations

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Arch Coal Q3 net income drops YOY but tops analyst expectations

Arch Coal Inc. on Oct. 22 reported net income of $106.8 million, or $6.34 per share, in the 2019 third quarter, compared with $123.2 million, or $6.10 per share, in the prior-year period. The S&P Global Market Intelligence consensus GAAP earnings estimate for the third quarter was $3.17 per share.

Adjusted EBITDA was $106.6 million for the most recent quarter, compared with $124.9 million in the 2018 third quarter.

Revenue came in at $619.5 million, compared with $633.2 million in the same quarter a year earlier.

"During the quarter, our core Metallurgical segment turned in another excellent cost performance and solid margins despite elevated costs in the last longwall panel at Mountain Laurel and a significant step-down in index-based coking coal prices," President and COO Paul Lang said. "Supplementing that strong performance, our two legacy thermal segments achieved solid margins, continued to demonstrate great capital discipline, and generated significant amounts of excess cash that we once again put to good use in both our capital return program and the build-out of Leer South."