Friday, June 10 2022

By Chris Wack


Arch Resources Inc. reported third-quarter earnings of $89.1 million, or $4.92 per share, compared to a loss of $191.5 million, or $12.64 per share, in the same period of the previous year. The company said the third quarter included a $19.6 million non-cash loss associated with its coal hedging business. Revenue was $594.4 million, compared to $382.3 million in the same quarter last year.


On third quarter investments


“Cash this quarter was impacted by a significant investment in working capital, including $66 million of increased accounts receivable as well as $19 million of increased margin requirements, both attributable to the price spike. coal.”


On the coal markets


“The continued rebound in global steel production from the pandemic continues to drive strong demand and healthy prices in marine coking coal markets.”


“Maritime shipments of coking coal from Australia, the United States and Canada, the three largest exporters of high-quality metallurgical coal, have fallen by a total of 20 million metric tons since the start. of the year compared to 2019 levels.”


“Global and domestic thermal coal markets also remain exceptionally strong at this time, as countries around the world struggle to secure sufficient energy supplies to support rapidly recovering economies.”


“Year-to-date, Arch is committed to delivering over 100 million tonnes of Powder River Basin coal in all periods, at historically high prices.

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