- Posts web earnings from persevering with operations of $251.8 million, or $14.21 per diluted share, for the quarter
- Stories third quarter Adjusted EBITDA of $294.9 million
- Generates quarterly working money circulation of $497.0 million
- Broadcasts 4.5 million tons of 2023 home gross sales commitments at a median worth of $192.27 per ton
- Broadcasts cumulative $452 million in buybacks by means of share repurchase program as of October 31, 2022
- Will increase share buyback authorization to $1 billion from prior stage of $600 million
- Broadcasts one-time, particular dividend of $5.00 per share
- Will increase quarterly dividend quantity to 41.8 cents per share
BRISTOL, Tenn., Nov. 7, 2022 /PRNewswire/ — Alpha Metallurgical Assets, Inc. (NYSE: AMR), a number one U.S. provider of metallurgical merchandise for the metal business, at present reported outcomes for the third quarter ending September 30, 2022.
|
(hundreds of thousands, besides per share) |
|||
|
Three months ended |
|||
|
Sept. 30, 2022 |
June 30, 2022 |
Sept. 30, 2021 |
|
|
Internet earnings(1) |
$251.8 |
$575.4 |
$83.7 |
|
Internet earnings(1) per diluted share |
$14.21 |
$30.03 |
$4.43 |
|
Adjusted EBITDA(2) |
$294.9 |
$694.5 |
$148.2 |
|
Working money circulation(3) |
$497.0 |
$465.9 |
$96.0 |
|
Capital expenditures |
($33.3) |
($41.9) |
($22.3) |
|
Tons of coal offered |
4.1 |
4.3 |
4.7 |
__________________________________
|
1. |
From persevering with operations. |
|
2. |
These are non-GAAP monetary measures. A reconciliation of Internet Revenue to Adjusted EBITDA is included in tables accompanying the monetary schedules. |
|
3. |
Consists of discontinued operations. |
“Alpha’s third quarter outcomes signify one other strong efficiency from our workforce,” stated David Stetson, Alpha’s chair and chief government officer. “Evident inside this quarter’s numbers is the pure influence of the coal indices’ drop from their early-2022 historic highs. Even nonetheless, indices stay at ranges which are thought-about very sturdy from a historic common perspective, and Alpha’s almost $300 million in Adjusted EBITDA for the quarter is likewise a powerful displaying for our firm.”
Stetson continued: “To additional improve our already-robust capital return efforts, I’m happy to announce that Alpha’s board has accepted a 400-million-dollar enhance to the present share repurchase authorization, bringing the entire authorization to a formidable $1 billion. As well as, the board has elevated the fastened dividend to 41.8 cents per share and accepted a one-time, particular dividend of 5 {dollars} per share in recognition of the terribly constructive efficiency of the Alpha workforce this 12 months. We stay dedicated, as all the time, to prudently returning capital to shareholders.”
Monetary Efficiency
Alpha reported web earnings from persevering with operations of $251.8 million, or $14.21 per diluted share, for the third quarter 2022. Within the second quarter of 2022, the corporate had web earnings from persevering with operations of $575.4 million, or $30.03 per diluted share.
For the third quarter, whole Adjusted EBITDA was $294.9 million, in comparison with $694.5 million within the second quarter 2022.
|
Coal Revenues |
||
|
(hundreds of thousands) |
||
|
Three months ended |
||
|
Sept. 30, 2022 |
June 30, 2022 |
|
|
Met Section |
$840.6 |
$1,318.7 |
|
All Different |
$27.2 |
$15.6 |
|
Met Section (excl. freight & dealing with)(1) |
$718.1 |
$1,162.1 |
|
All Different (excl. freight & dealing with)(1) |
$27.2 |
$15.6 |
|
Tons Bought |
(hundreds of thousands) |
|
|
Three months ended |
||
|
Sept. 30, 2022 |
June 30, 2022 |
|
|
Met Section |
3.9 |
4.1 |
|
All Different |
0.2 |
0.3 |
__________________________________
|
1. |
Represents Non-GAAP coal revenues which is outlined and reconciled beneath “Non-GAAP Monetary Measures” and “Outcomes of Operations.” |
|
Coal Gross sales Realization(1) |
||
|
(per ton) |
||
|
Three months ended |
||
|
Sept. 30, 2022 |
June 30, 2022 |
|
|
Met Section |
$184.31 |
$286.95 |
|
All Different |
$109.27 |
$61.41 |
__________________________________
|
1. |
Represents Non-GAAP coal gross sales realization which is outlined and reconciled beneath “Non-GAAP Monetary Measures” and “Outcomes of Operations.” |
Third quarter web realized pricing for the Met section was $184.31 per ton and web realization within the All Different class was $109.27. Met section realizations for the third quarter, as in comparison with first half realizations, mirror the downward motion of coal indices off their historic highs in early 2022.
The desk beneath supplies a breakdown of our Met section coal offered within the third quarter by pricing mechanism.
|
(in hundreds of thousands, besides per ton knowledge) |
||||
|
Met Section Gross sales |
Three months ended Sept. 30, 2022 |
|||
|
Tons Bought |
Coal Revenues |
Realization/ton(1) |
% of Met Tons Bought |
|
|
Export – Different Pricing Mechanisms |
1.4 |
$299.2 |
$208.81 |
41 % |
|
Home |
0.9 |
$189.2 |
$200.24 |
27 % |
|
Export – Australian Listed |
1.1 |
$184.8 |
$161.58 |
32 % |
|
Whole Met Coal Revenues |
3.5 |
$673.3 |
$191.17 |
100 % |
|
Thermal Coal Revenues |
0.4 |
$44.8 |
$119.69 |
|
|
Whole Met Section Coal Revenues (excl. freight & dealing with)(1) |
3.9 |
$718.1 |
$184.31 |
|
__________________________________
|
1. |
Represents Non-GAAP coal gross sales realization which is outlined and reconciled beneath “Non-GAAP Monetary Measures” and “Outcomes of Operations.” |
|
Value of Coal Gross sales |
||
|
(in hundreds of thousands, besides per ton knowledge) |
||
|
Three months ended |
||
|
Sept. 30, 2022 |
June 30, 2022 |
|
|
Value of Coal Gross sales |
$555.5 |
$625.9 |
|
Value of Coal Gross sales (excl. freight & dealing with/idle)(1) |
$425.4 |
$463.7 |
|
(per ton) |
||
|
Met Section(1) |
$104.86 |
$111.36 |
|
All Different(1) |
$67.48 |
$49.90 |
__________________________________
|
1. |
Represents Non-GAAP price of coal gross sales and Non-GAAP price of coal gross sales per ton which is outlined and reconciled beneath “Non-GAAP Monetary Measures” and “Outcomes of Operations.” |
Alpha’s third quarter Met section price of coal gross sales decreased to a median of $104.86 per ton, with diminished sales-related prices from royalties and severance taxes accounting for the drop from the second quarter stage of $111.36. Value of coal gross sales for the All Different class elevated to $67.48 per ton within the third quarter 2022 towards a median price of $49.90 per ton within the second quarter 2022. The upper prices in third quarter are attributable to larger sales-related prices and the impacts of late-stage mining at our Slabcamp mine.
Liquidity and Capital Assets
Money offered by working actions within the third quarter elevated to $497.0 million as in comparison with $465.9 million within the second quarter 2022. Money offered by working actions consists of discontinued operations. Capital expenditures for the third quarter 2022 have been $33.3 million in comparison with $41.9 million for the second quarter of 2022.
As of September 30, 2022, Alpha had $404.4 million in unrestricted money and $150.8 million in restricted money, deposits and investments. Whole long-term debt, together with the present portion of long-term debt as of September 30, 2022, was $4.7 million. On the finish of the third quarter, the corporate had whole liquidity of $495.5 million, together with money and money equivalents of $404.4 million and $91.1 million of unused availability beneath the ABL. The long run obtainable capability beneath the ABL is topic to stock and accounts receivable collateral necessities and the upkeep of sure monetary ratios. As of September 30, 2022, the corporate had no borrowings and $63.9 million in letters of credit score excellent beneath the ABL.
2023 Home Gross sales Commitments
On September 13, 2022, Alpha introduced that the corporate has dedicated roughly 4.5 million tons of metallurgical coal to home prospects for cargo within the calendar 12 months 2023. These 4.5 million tons are dedicated at a median worth of $192.27 per ton.
“As we advance by means of our budgeting course of to finalize our expectations for the approaching 12 months, we’re happy to have a agency basis of 4.5 million tons of domestically-committed coal on which we will proceed to construct,” stated Andy Eidson, Alpha’s president. “Our gross sales workforce continues to do a superb job of working with new and longstanding prospects, and we’re taking an in depth take a look at the total scope of worldwide alternatives obtainable to Alpha in 2023. Collectively in coordination with our operations groups, we’ll spherical out our steering projections and plans for 2023. We’re optimistic about Alpha’s outlook for subsequent 12 months and we’ll present extra element round our 2023 expectations within the coming weeks.”
Dividend Program
On November 4, 2022, Alpha’s board of administrators declared a quarterly money dividend cost of $0.418 per share, elevated from the prior stage of $0.392 per share, which can turn out to be payable on January 3, 2023 for holders of document as of December 15, 2022. Alpha’s board additionally declared a one-time, particular dividend of $5.00 per share, additionally payable on January 3, 2023 for holders of document as of December 15, 2022.
Any determination to pay future money dividends will likely be made by the board and rely upon Alpha’s future earnings and monetary situation and different related components.
Share Repurchase Program
As beforehand introduced, Alpha’s board of administrators approved a share repurchase program permitting for the expenditure of as much as $600 million for the repurchase of the corporate’s frequent inventory. On November 4, Alpha’s board elevated this authorization by $400 million, bringing the entire authorization to $1 billion. As of October 31, 2022, the corporate has acquired 3.1 million shares of frequent inventory at a value of $452 million, which has diminished the excellent share rely by roughly 14 p.c from the time this system started. The variety of frequent inventory shares excellent as of October 31, 2022 is 15,943,649.
The timing and quantity of share repurchases will proceed to be decided by the corporate’s administration primarily based on its analysis of market situations, the buying and selling worth of the inventory, relevant authorized necessities, compliance with the provisions of the corporate’s debt agreements, and different components.
2022 Steerage
As of October 28, 2022, Alpha has dedicated and priced roughly 87% of its metallurgical coal throughout the Met section at a median worth of $243.30 per ton and 100% of thermal coal within the Met section at a median anticipated worth of $97.43 per ton. Within the All Different class the corporate is 100% dedicated and priced at a median worth of $77.69 per ton.
|
2022 Steerage |
||
|
in hundreds of thousands of tons |
Low |
Excessive |
|
Metallurgical |
14.0 |
15.0 |
|
Thermal |
1.0 |
1.4 |
|
Met Section |
15.0 |
16.4 |
|
All Different |
0.6 |
0.8 |
|
Whole Shipments |
15.6 |
17.2 |
|
Dedicated/Priced1,2,3 |
Dedicated |
Common Worth |
|
Metallurgical – Home |
$192.03 |
|
|
Metallurgical – Export |
$265.02 |
|
|
Metallurgical Whole |
87 % |
$243.30 |
|
Thermal |
100 % |
$97.43 |
|
Met Section |
89 % |
$228.76 |
|
All Different |
100 % |
$77.69 |
|
Dedicated/Unpriced1,3 |
Dedicated |
|
|
Metallurgical Whole |
13 % |
|
|
Thermal |
— % |
|
|
Met Section |
11 % |
|
|
All Different |
— % |
|
|
Prices per ton4 |
Low |
Excessive |
|
Met Section |
$101.00 |
$107.00 |
|
All Different |
$58.00 |
$62.00 |
|
In hundreds of thousands (besides taxes) |
Low |
Excessive |
|
SG&A5 |
$55 |
$59 |
|
Idle Operations Expense |
$30 |
$40 |
|
Money Curiosity Expense |
$18 |
$22 |
|
DD&A |
$90 |
$110 |
|
Capital Expenditures |
$160 |
$190 |
|
Tax Charge6 |
5 % |
15 % |
|
Notes: |
|
|
1. |
Based mostly on dedicated and priced coal shipments as of October 28, 2022. Dedicated proportion primarily based on the midpoint of cargo steering vary. |
|
2. |
Precise common per-ton realizations on dedicated and priced tons acknowledged in future intervals could differ primarily based on precise freight expense in future intervals relative to assumed freight expense embedded in projected common per-ton realizations. |
|
3. |
Consists of estimates of future coal shipments primarily based upon contract phrases and anticipated supply schedules. Precise coal shipments could differ from these estimates. |
|
4. |
Be aware: The Firm is unable to current a quantitative reconciliation of its forward-looking non-GAAP price of coal gross sales per ton offered monetary measures to essentially the most straight comparable GAAP measures with out unreasonable efforts as a result of inherent issue in forecasting and quantifying with cheap accuracy vital objects required for the reconciliation. Essentially the most straight comparable GAAP measure, GAAP price of gross sales, just isn’t accessible with out unreasonable efforts on a forward-looking foundation. The reconciling objects embody freight and dealing with prices, that are a element of GAAP price of gross sales. Administration is unable to foretell with out unreasonable efforts freight and dealing with prices as a result of uncertainty as to the top market and FOB level for uncommitted gross sales volumes and the ultimate delivery level for export shipments. These quantities have traditionally diversified and will proceed to differ considerably from quarter to quarter and materials modifications to those objects may have a major impact on our future GAAP outcomes. |
|
5. |
Excludes bills associated to non-cash inventory compensation and non-recurring bills. |
|
6. |
Charge assumes no additional possession change limitations on the utilization of web working losses. |
Convention Name
The corporate plans to carry a convention name relating to its third quarter 2022 outcomes on November 7, 2022, at 10:00 a.m. Japanese time. The convention name will likely be obtainable stay on the investor part of the corporate’s web site at https://traders.alphametresources.com/traders. Analysts who wish to take part within the convention name ought to dial 877-407-0832 (home toll-free) or 201-689-8433 (worldwide) roughly quarter-hour prior to start out time.
About Alpha Metallurgical Assets
Alpha Metallurgical Assets (NYSE: AMR) is a Tennessee-based mining firm with operations throughout Virginia and West Virginia. With prospects throughout the globe, high-quality reserves and vital port capability, Alpha reliably provides metallurgical merchandise to the metal business. For extra data, go to www.AlphaMetResources.com.
Ahead-Wanting Statements
This information launch consists of forward-looking statements. These forward-looking statements are primarily based on Alpha’s expectations and beliefs regarding future occasions and contain dangers and uncertainties that will trigger precise outcomes to vary materially from present expectations. These components are tough to foretell precisely and could also be past Alpha’s management. Ahead-looking statements on this information launch or elsewhere communicate solely as of the date made. New uncertainties and dangers come up now and again, and it’s unimaginable for Alpha to foretell these occasions or how they could have an effect on Alpha. Besides as required by legislation, Alpha has no obligation to, and doesn’t intend to, replace or revise the forward-looking statements on this information launch or elsewhere after the date this launch is issued. In mild of those dangers and uncertainties, traders ought to needless to say outcomes, occasions or developments mentioned in any forward-looking assertion made on this information launch could not happen.
Investor & Media Contact: Emily O’Quinn
[email protected]
[email protected]
(423) 573-0369
FINANCIAL TABLES FOLLOW
Non-GAAP Monetary Measures
The dialogue beneath incorporates “non-GAAP monetary measures.” These are monetary measures which both exclude or embody quantities that aren’t excluded or included in essentially the most straight comparable measures calculated and introduced in accordance with typically accepted accounting rules in america (“U.S. GAAP” or “GAAP”). Particularly, we make use of the non-GAAP monetary measures “Adjusted EBITDA,” “non-GAAP coal revenues,” “non-GAAP price of coal gross sales,” “non-GAAP coal margin,” and “Adjusted price of produced coal offered.” We use Adjusted EBITDA to measure the working efficiency of our segments and allocate assets to the segments. Adjusted EBITDA doesn’t purport to be a substitute for web earnings (loss) as a measure of working efficiency or some other measure of working outcomes or liquidity introduced in accordance with GAAP. We use non-GAAP coal revenues to current coal revenues generated, excluding freight and dealing with success revenues. Non-GAAP coal gross sales realization per ton for our operations is calculated as non-GAAP coal revenues divided by tons offered. We use non-GAAP price of coal gross sales to regulate price of coal gross sales to take away freight and dealing with prices, depreciation, depletion and amortization – manufacturing (excluding the depreciation, depletion and amortization associated to promoting, basic and administrative capabilities), accretion on asset retirement obligations, amortization of acquired intangibles, web, and idled and closed mine prices. Non-GAAP price of coal gross sales per ton for our operations is calculated as non-GAAP price of coal gross sales divided by tons offered. Non-GAAP coal margin per ton for our coal operations is calculated as non-GAAP coal gross sales realization per ton for our coal operations much less non-GAAP price of coal gross sales per ton for our coal operations. We additionally use Adjusted price of produced coal offered to differentiate the price of captive produced coal from the consequences of bought coal. The presentation of those measures shouldn’t be thought-about in isolation, or as an alternative choice to evaluation of our outcomes as reported beneath GAAP.
Administration makes use of non-GAAP monetary measures to complement GAAP outcomes to supply a extra full understanding of the components and traits affecting the enterprise than GAAP outcomes alone. The definition of those non-GAAP measures could also be modified periodically by administration to regulate for vital objects vital to an understanding of working traits and to regulate for objects that won’t mirror the development of future outcomes by excluding transactions that aren’t indicative of our core working efficiency. Moreover, analogous measures are utilized by business analysts to guage the Firm’s working efficiency. As a result of not all firms use equivalent calculations, the shows of those measures will not be akin to different equally titled measures of different firms and might differ considerably from firm to firm relying on long-term strategic selections relating to capital construction, the tax jurisdictions during which firms function, and capital investments.
Included beneath are reconciliations of non-GAAP monetary measures to GAAP monetary measures.
|
ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES |
|||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) |
|||||||
|
(Quantities in 1000’s, besides share and per share knowledge) |
|||||||
|
Three Months Ended September 30, |
9 Months Ended September 30, |
||||||
|
2022 |
2021 |
2022 |
2021 |
||||
|
Revenues: |
|||||||
|
Coal revenues |
$ 867,849 |
$ 647,129 |
$ 3,271,845 |
$ 1,426,039 |
|||
|
Different revenues |
1,919 |
1,712 |
6,299 |
4,330 |
|||
|
Whole revenues |
869,768 |
648,841 |
3,278,144 |
1,430,369 |
|||
|
Prices and bills: |
|||||||
|
Value of coal gross sales (unique of things |
555,502 |
488,169 |
1,736,711 |
1,182,360 |
|||
|
Depreciation, depletion and amortization |
27,925 |
24,519 |
83,690 |
80,261 |
|||
|
Accretion on asset retirement obligations |
5,921 |
6,674 |
17,822 |
19,970 |
|||
|
Amortization of acquired intangibles, web |
4,543 |
2,980 |
16,038 |
9,402 |
|||
|
Asset impairment and restructuring |
— |
— |
— |
(561) |
|||
|
Promoting, basic and administrative |
15,095 |
15,264 |
48,339 |
44,891 |
|||
|
Whole different working loss (earnings): |
|||||||
|
Mark-to-market adjustment for |
(2,954) |
11,676 |
10,615 |
18,009 |
|||
|
Different expense (earnings) |
2,713 |
(457) |
569 |
(5,290) |
|||
|
Whole prices and bills |
608,745 |
548,825 |
1,913,784 |
1,349,042 |
|||
|
Revenue from operations |
261,023 |
100,016 |
1,364,360 |
81,327 |
|||
|
Different (expense) earnings: |
|||||||
|
Curiosity expense |
(1,695) |
(17,338) |
(19,996) |
(53,290) |
|||
|
Curiosity earnings |
1,064 |
54 |
1,412 |
322 |
|||
|
Fairness loss in associates |
(4,821) |
(643) |
(8,318) |
(1,161) |
|||
|
Miscellaneous earnings, web |
1,702 |
1,812 |
4,884 |
5,425 |
|||
|
Whole different expense, web |
(3,750) |
(16,115) |
(22,018) |
(48,704) |
|||
|
Revenue from persevering with operations earlier than |
257,273 |
83,901 |
1,342,342 |
32,623 |
|||
|
Revenue tax expense |
(5,437) |
(208) |
(114,073) |
(211) |
|||
|
Internet earnings from persevering with operations |
251,836 |
83,693 |
1,228,269 |
32,412 |
|||
|
Discontinued operations: |
|||||||
|
Revenue (loss) from discontinued operations |
1,273 |
(429) |
(525) |
(1,067) |
|||
|
Revenue tax (expense) profit from |
(292) |
— |
121 |
— |
|||
|
Revenue (loss) from discontinued operations |
981 |
(429) |
(404) |
(1,067) |
|||
|
Internet earnings |
$ 252,817 |
$ 83,264 |
$ 1,227,865 |
$ 31,345 |
|||
|
Primary earnings per frequent share: |
|||||||
|
Revenue from persevering with operations |
$ 14.71 |
$ 4.54 |
$ 68.16 |
$ 1.76 |
|||
|
Revenue (loss) from discontinued operations |
0.06 |
(0.03) |
(0.02) |
(0.06) |
|||
|
Internet earnings |
$ 14.77 |
$ 4.51 |
$ 68.14 |
$ 1.70 |
|||
|
Diluted earnings per frequent share: |
|||||||
|
Revenue from persevering with operations |
$ 14.21 |
$ 4.43 |
$ 65.33 |
$ 1.73 |
|||
|
Revenue (loss) from discontinued operations |
0.06 |
(0.03) |
(0.02) |
(0.06) |
|||
|
Internet earnings |
$ 14.27 |
$ 4.40 |
$ 65.31 |
$ 1.67 |
|||
|
Weighted common shares – primary |
17,119,328 |
18,445,709 |
18,019,161 |
18,426,639 |
|||
|
Weighted common shares – diluted |
17,718,517 |
18,913,352 |
18,800,674 |
18,783,643 |
|||
|
ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES |
|||
|
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) |
|||
|
(Quantities in 1000’s, besides share and per share knowledge) |
|||
|
September 30, 2022 |
December 31, 2021 |
||
|
Property |
|||
|
Present property: |
|||
|
Money and money equivalents |
$ 404,430 |
$ 81,211 |
|
|
Commerce accounts receivable, web of allowance for uncertain accounts of $375 and $393 as of |
487,352 |
489,241 |
|
|
Inventories, web |
178,559 |
129,382 |
|
|
Pay as you go bills and different present property |
76,999 |
47,690 |
|
|
Present property – discontinued operations |
57 |
462 |
|
|
Whole present property |
1,147,397 |
747,986 |
|
|
Property, plant, and gear, web of collected depreciation and amortization of |
404,171 |
362,218 |
|
|
Owned and leased mineral rights, web of collected depletion and amortization of |
423,763 |
444,302 |
|
|
Different acquired intangibles, web of collected amortization of $50,259 and $34,221 as |
58,561 |
74,197 |
|
|
Lengthy-term restricted investments |
92,384 |
28,443 |
|
|
Lengthy-term restricted money |
31,724 |
89,426 |
|
|
Different non-current property |
93,332 |
102,614 |
|
|
Non-current property – discontinued operations |
8,521 |
8,526 |
|
|
Whole property |
$ 2,259,853 |
$ 1,857,712 |
|
|
Liabilities and Stockholders’ Fairness |
|||
|
Present liabilities: |
|||
|
Present portion of long-term debt |
$ 1,711 |
$ 2,989 |
|
|
Commerce accounts payable |
101,584 |
90,090 |
|
|
Acquisition-related obligations – present |
30,131 |
22,405 |
|
|
Accrued bills and different present liabilities |
203,902 |
174,607 |
|
|
Present liabilities – discontinued operations |
4,014 |
5,838 |
|
|
Whole present liabilities |
341,342 |
295,929 |
|
|
Lengthy-term debt |
2,987 |
445,562 |
|
|
Acquisition-related obligations – long-term |
— |
19,000 |
|
|
Employees’ compensation and black lung obligations |
200,827 |
208,193 |
|
|
Pension obligations |
152,184 |
159,930 |
|
|
Asset retirement obligations |
135,082 |
132,013 |
|
|
Deferred earnings taxes |
11,723 |
317 |
|
|
Different non-current liabilities |
20,794 |
26,176 |
|
|
Non-current liabilities – discontinued operations |
23,245 |
23,683 |
|
|
Whole liabilities |
888,184 |
1,310,803 |
|
|
Commitments and Contingencies |
|||
|
Stockholders’ Fairness |
|||
|
Most popular inventory – par worth $0.01, 5.0 million shares approved, none issued |
— |
— |
|
|
Frequent inventory – par worth $0.01, 50.0 million shares approved, 21.6 million issued and |
217 |
208 |
|
|
Further paid-in capital |
811,012 |
784,743 |
|
|
Collected different complete loss |
(60,886) |
(58,503) |
|
|
Treasury inventory, at price: 5.3 million shares at September 30, 2022 and a couple of.4 million shares |
(521,094) |
(107,800) |
|
|
Retained earnings (collected deficit) |
1,142,420 |
(71,739) |
|
|
Whole stockholders’ fairness |
1,371,669 |
546,909 |
|
|
Whole liabilities and stockholders’ fairness |
$ 2,259,853 |
$ 1,857,712 |
|
|
ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES |
|||
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) |
|||
|
(Quantities in 1000’s) |
|||
|
9 Months Ended September 30, |
|||
|
2022 |
2021 |
||
|
Working actions: |
|||
|
Internet earnings |
$ 1,227,865 |
$ 31,345 |
|
|
Changes to reconcile web earnings to web money offered by working actions: |
|||
|
Depreciation, depletion and amortization |
83,690 |
80,261 |
|
|
Amortization of acquired intangibles, web |
16,038 |
9,402 |
|
|
Amortization of debt issuance prices and accretion of debt low cost |
7,757 |
9,351 |
|
|
Mark-to-market adjustment for acquisition-related obligations |
10,615 |
18,009 |
|
|
Achieve on disposal of property |
(2,607) |
(5,342) |
|
|
Accretion on asset retirement obligations |
17,822 |
19,970 |
|
|
Worker profit plans, web |
1,312 |
6,685 |
|
|
Deferred earnings taxes |
11,406 |
(1) |
|
|
Inventory-based compensation |
4,103 |
4,351 |
|
|
Fairness loss in associates |
8,318 |
1,161 |
|
|
Different, web |
432 |
(3,938) |
|
|
Adjustments in working property and liabilities |
(87,714) |
(100,681) |
|
|
Internet money offered by working actions |
1,299,037 |
70,573 |
|
|
Investing actions: |
|||
|
Capital expenditures |
(103,351) |
(60,386) |
|
|
Proceeds on disposal of property |
3,010 |
7,471 |
|
|
Purchases of funding securities |
(181,539) |
(15,474) |
|
|
Maturity of funding securities |
117,380 |
10,508 |
|
|
Capital contributions to fairness associates |
(13,832) |
(4,473) |
|
|
Different, web |
(4,232) |
52 |
|
|
Internet money utilized in investing actions |
(182,564) |
(62,302) |
|
|
Financing actions: |
|||
|
Repurchases of long-term debt |
— |
(18,415) |
|
|
Principal repayments of long-term debt |
(450,484) |
(61,869) |
|
|
Dividend and dividend equivalents paid |
(6,807) |
— |
|
|
Frequent inventory repurchases and associated bills |
(391,166) |
(786) |
|
|
Proceeds from train of warrants |
4,771 |
— |
|
|
Different, web |
(447) |
(1,846) |
|
|
Internet money utilized in financing actions |
(844,133) |
(82,916) |
|
|
Internet enhance (lower) in money and money equivalents and restricted money |
272,340 |
(74,645) |
|
|
Money and money equivalents and restricted money at starting of interval |
182,614 |
244,571 |
|
|
Money and money equivalents and restricted money at finish of interval |
$ 454,954 |
$ 169,926 |
|
The next desk supplies a reconciliation of money and money equivalents and restricted money reported throughout the Condensed Consolidated Steadiness Sheets that sum to the entire of the identical such quantities proven within the Condensed Consolidated Statements of Money Flows.
|
As of September 30, |
|||
|
2022 |
2021 |
||
|
Money and money equivalents |
$ 404,430 |
$ 78,283 |
|
|
Brief-term restricted money (included in Pay as you go bills and different present property) |
18,800 |
7,642 |
|
|
Lengthy-term restricted money |
31,724 |
84,001 |
|
|
Whole money and money equivalents and restricted money proven within the Condensed Consolidated Statements of Money Flows |
$ 454,954 |
$ 169,926 |
|
|
ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES |
|||||||||
|
ADJUSTED EBITDA RECONCILIATION |
|||||||||
|
(Quantities in 1000’s) |
|||||||||
|
Three Months Ended |
9 Months Ended September 30, |
||||||||
|
June 30, 2022 |
September 30, 2022 |
September 30, 2021 |
2022 |
2021 |
|||||
|
Internet earnings from persevering with |
$ 575,429 |
$ 251,836 |
$ 83,693 |
$ 1,228,269 |
$ 32,412 |
||||
|
Curiosity expense |
5,218 |
1,695 |
17,338 |
19,996 |
53,290 |
||||
|
Curiosity earnings |
(164) |
(1,064) |
(54) |
(1,412) |
(322) |
||||
|
Revenue tax expense |
69,012 |
5,437 |
208 |
114,073 |
211 |
||||
|
Depreciation, depletion and |
27,730 |
27,925 |
24,519 |
83,690 |
80,261 |
||||
|
Non-cash inventory compensation |
1,401 |
1,520 |
1,189 |
4,103 |
4,351 |
||||
|
Mark-to-market adjustment – |
4,208 |
(2,954) |
11,676 |
10,615 |
18,009 |
||||
|
Accretion on asset retirement |
5,947 |
5,921 |
6,674 |
17,822 |
19,970 |
||||
|
Asset impairment and restructuring |
— |
— |
— |
— |
(561) |
||||
|
Amortization of acquired intangibles, |
5,747 |
4,543 |
2,980 |
16,038 |
9,402 |
||||
|
Adjusted EBITDA |
$ 694,528 |
$ 294,859 |
$ 148,223 |
$ 1,493,194 |
$ 217,023 |
||||
|
ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES |
|||||
|
RESULTS OF OPERATIONS |
|||||
|
Three Months Ended June 30, 2022 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Coal revenues |
$ 1,318,661 |
$ 15,597 |
$ 1,334,258 |
||
|
Much less: Freight and dealing with success revenues |
(156,522) |
— |
(156,522) |
||
|
Non-GAAP Coal revenues |
$ 1,162,139 |
$ 15,597 |
$ 1,177,736 |
||
|
Tons offered |
4,050 |
254 |
4,304 |
||
|
Non-GAAP Coal gross sales realization per ton |
$ 286.95 |
$ 61.41 |
$ 273.64 |
||
|
Value of coal gross sales (unique of things proven individually beneath) |
$ 610,224 |
$ 15,668 |
$ 625,892 |
||
|
Depreciation, depletion and amortization – manufacturing (1) |
27,202 |
250 |
27,452 |
||
|
Accretion on asset retirement obligations |
3,390 |
2,557 |
5,947 |
||
|
Amortization of acquired intangibles, web |
4,795 |
952 |
5,747 |
||
|
Whole Value of coal gross sales |
$ 645,611 |
$ 19,427 |
$ 665,038 |
||
|
Much less: Freight and dealing with prices |
(156,522) |
— |
(156,522) |
||
|
Much less: Depreciation, depletion and amortization – manufacturing (1) |
(27,202) |
(250) |
(27,452) |
||
|
Much less: Accretion on asset retirement obligations |
(3,390) |
(2,557) |
(5,947) |
||
|
Much less: Amortization of acquired intangibles, web |
(4,795) |
(952) |
(5,747) |
||
|
Much less: Idled and closed mine prices |
(2,708) |
(2,993) |
(5,701) |
||
|
Non-GAAP Value of coal gross sales |
$ 450,994 |
$ 12,675 |
$ 463,669 |
||
|
Tons offered |
4,050 |
254 |
4,304 |
||
|
Non-GAAP Value of coal gross sales per ton |
$ 111.36 |
$ 49.90 |
$ 107.73 |
||
|
(1) |
Depreciation, depletion and amortization – manufacturing excludes the depreciation, depletion and amortization associated to promoting, basic and administrative capabilities. |
|
Three Months Ended June 30, 2022 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Coal revenues |
$ 1,318,661 |
$ 15,597 |
$ 1,334,258 |
||
|
Much less: Whole Value of coal gross sales (per desk above) |
(645,611) |
(19,427) |
(665,038) |
||
|
GAAP Coal margin |
$ 673,050 |
$ (3,830) |
$ 669,220 |
||
|
Tons offered |
4,050 |
254 |
4,304 |
||
|
GAAP Coal margin per ton |
$ 166.19 |
$ (15.08) |
$ 155.49 |
||
|
GAAP Coal margin |
$ 673,050 |
$ (3,830) |
$ 669,220 |
||
|
Add: Depreciation, depletion and amortization – manufacturing (1) |
27,202 |
250 |
27,452 |
||
|
Add: Accretion on asset retirement obligations |
3,390 |
2,557 |
5,947 |
||
|
Add: Amortization of acquired intangibles, web |
4,795 |
952 |
5,747 |
||
|
Add: Idled and closed mine prices |
2,708 |
2,993 |
5,701 |
||
|
Non-GAAP Coal margin |
$ 711,145 |
$ 2,922 |
$ 714,067 |
||
|
Tons offered |
4,050 |
254 |
4,304 |
||
|
Non-GAAP Coal margin per ton |
$ 175.59 |
$ 11.50 |
$ 165.91 |
||
|
(1) |
Depreciation, depletion and amortization – manufacturing excludes the depreciation, depletion and amortization associated to promoting, basic and administrative capabilities. |
|
Three Months Ended September 30, 2022 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Coal revenues |
$ 840,638 |
$ 27,211 |
$ 867,849 |
||
|
Much less: Freight and dealing with success revenues |
(122,585) |
(3) |
(122,588) |
||
|
Non-GAAP Coal revenues |
$ 718,053 |
$ 27,208 |
$ 745,261 |
||
|
Tons offered |
3,896 |
249 |
4,145 |
||
|
Non-GAAP Coal gross sales realization per ton |
$ 184.31 |
$ 109.27 |
$ 179.80 |
||
|
Value of coal gross sales (unique of things proven individually beneath) |
$ 534,718 |
$ 20,784 |
$ 555,502 |
||
|
Depreciation, depletion and amortization – manufacturing (1) |
26,747 |
906 |
27,653 |
||
|
Accretion on asset retirement obligations |
3,390 |
2,531 |
5,921 |
||
|
Amortization of acquired intangibles, web |
3,591 |
952 |
4,543 |
||
|
Whole Value of coal gross sales |
$ 568,446 |
$ 25,173 |
$ 593,619 |
||
|
Much less: Freight and dealing with prices |
(122,585) |
(3) |
(122,588) |
||
|
Much less: Depreciation, depletion and amortization – manufacturing (1) |
(26,747) |
(906) |
(27,653) |
||
|
Much less: Accretion on asset retirement obligations |
(3,390) |
(2,531) |
(5,921) |
||
|
Much less: Amortization of acquired intangibles, web |
(3,591) |
(952) |
(4,543) |
||
|
Much less: Idled and closed mine prices |
(3,580) |
(3,978) |
(7,558) |
||
|
Non-GAAP Value of coal gross sales |
$ 408,553 |
$ 16,803 |
$ 425,356 |
||
|
Tons offered |
3,896 |
249 |
4,145 |
||
|
Non-GAAP Value of coal gross sales per ton |
$ 104.86 |
$ 67.48 |
$ 102.62 |
||
|
(1) |
Depreciation, depletion and amortization – manufacturing excludes the depreciation, depletion and amortization associated to promoting, basic and administrative capabilities. |
|
Three Months Ended September 30, 2022 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Coal revenues |
$ 840,638 |
$ 27,211 |
$ 867,849 |
||
|
Much less: Whole Value of coal gross sales (per desk above) |
(568,446) |
(25,173) |
(593,619) |
||
|
GAAP Coal margin |
$ 272,192 |
$ 2,038 |
$ 274,230 |
||
|
Tons offered |
3,896 |
249 |
4,145 |
||
|
GAAP Coal margin per ton |
$ 69.86 |
$ 8.18 |
$ 66.16 |
||
|
GAAP Coal margin |
$ 272,192 |
$ 2,038 |
$ 274,230 |
||
|
Add: Depreciation, depletion and amortization – manufacturing (1) |
26,747 |
906 |
27,653 |
||
|
Add: Accretion on asset retirement obligations |
3,390 |
2,531 |
5,921 |
||
|
Add: Amortization of acquired intangibles, web |
3,591 |
952 |
4,543 |
||
|
Add: Idled and closed mine prices |
3,580 |
3,978 |
7,558 |
||
|
Non-GAAP Coal margin |
$ 309,500 |
$ 10,405 |
$ 319,905 |
||
|
Tons offered |
3,896 |
249 |
4,145 |
||
|
Non-GAAP Coal margin per ton |
$ 79.44 |
$ 41.79 |
$ 77.18 |
||
|
(1) |
Depreciation, depletion and amortization – manufacturing excludes the depreciation, depletion and amortization associated to promoting, basic and administrative capabilities. |
|
Three Months Ended September 30, 2021 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Coal revenues |
$ 625,387 |
$ 21,742 |
$ 647,129 |
||
|
Much less: Freight and dealing with success revenues |
(128,192) |
(18) |
(128,210) |
||
|
Non-GAAP Coal revenues |
$ 497,195 |
$ 21,724 |
$ 518,919 |
||
|
Tons offered |
4,380 |
348 |
4,728 |
||
|
Non-GAAP Coal gross sales realization per ton |
$ 113.51 |
$ 62.43 |
$ 109.75 |
||
|
Value of coal gross sales (unique of things proven individually beneath) |
$ 468,706 |
$ 19,463 |
$ 488,169 |
||
|
Depreciation, depletion and amortization – manufacturing (1) |
23,181 |
1,160 |
24,341 |
||
|
Accretion on asset retirement obligations |
3,408 |
3,266 |
6,674 |
||
|
Amortization of acquired intangibles, web |
3,063 |
(83) |
2,980 |
||
|
Whole Value of coal gross sales |
$ 498,358 |
$ 23,806 |
$ 522,164 |
||
|
Much less: Freight and dealing with prices |
(128,192) |
(18) |
(128,210) |
||
|
Much less: Depreciation, depletion and amortization – manufacturing (1) |
(23,181) |
(1,160) |
(24,341) |
||
|
Much less: Accretion on asset retirement obligations |
(3,408) |
(3,266) |
(6,674) |
||
|
Much less: Amortization of acquired intangibles, web |
(3,063) |
83 |
(2,980) |
||
|
Much less: Idled and closed mine prices |
(4,932) |
(2,927) |
(7,859) |
||
|
Non-GAAP Value of coal gross sales |
$ 335,582 |
$ 16,518 |
$ 352,100 |
||
|
Tons offered |
4,380 |
348 |
4,728 |
||
|
Non-GAAP Value of coal gross sales per ton |
$ 76.62 |
$ 47.47 |
$ 74.47 |
||
|
(1) |
Depreciation, depletion and amortization – manufacturing excludes the depreciation, depletion and amortization associated to promoting, basic and administrative capabilities. |
|
Three Months Ended September 30, 2021 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Coal revenues |
$ 625,387 |
$ 21,742 |
$ 647,129 |
||
|
Much less: Whole Value of coal gross sales (per desk above) |
(498,358) |
(23,806) |
(522,164) |
||
|
GAAP Coal margin |
$ 127,029 |
$ (2,064) |
$ 124,965 |
||
|
Tons offered |
4,380 |
348 |
4,728 |
||
|
GAAP Coal margin per ton |
$ 29.00 |
$ (5.93) |
$ 26.43 |
||
|
GAAP Coal margin |
$ 127,029 |
$ (2,064) |
$ 124,965 |
||
|
Add: Depreciation, depletion and amortization – manufacturing (1) |
23,181 |
1,160 |
24,341 |
||
|
Add: Accretion on asset retirement obligations |
3,408 |
3,266 |
6,674 |
||
|
Add: Amortization of acquired intangibles, web |
3,063 |
(83) |
2,980 |
||
|
Add: Idled and closed mine prices |
4,932 |
2,927 |
7,859 |
||
|
Non-GAAP Coal margin |
$ 161,613 |
$ 5,206 |
$ 166,819 |
||
|
Tons offered |
4,380 |
348 |
4,728 |
||
|
Non-GAAP Coal margin per ton |
$ 36.90 |
$ 14.96 |
$ 35.28 |
||
|
(1) |
Depreciation, depletion and amortization – manufacturing excludes the depreciation, depletion and amortization associated to promoting, basic and administrative capabilities. |
|
9 Months Ended September 30, 2022 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Coal revenues |
$ 3,213,639 |
$ 58,206 |
$ 3,271,845 |
||
|
Much less: Freight and dealing with success revenues |
(423,132) |
(21) |
(423,153) |
||
|
Non-GAAP Coal revenues |
$ 2,790,507 |
$ 58,185 |
$ 2,848,692 |
||
|
Tons offered |
11,726 |
771 |
12,497 |
||
|
Non-GAAP Coal gross sales realization per ton |
$ 237.98 |
$ 75.47 |
$ 227.95 |
||
|
Value of coal gross sales (unique of things proven individually beneath) |
$ 1,684,224 |
$ 52,487 |
$ 1,736,711 |
||
|
Depreciation, depletion and amortization – manufacturing (1) |
81,009 |
1,953 |
82,962 |
||
|
Accretion on asset retirement obligations |
10,178 |
7,644 |
17,822 |
||
|
Amortization of acquired intangibles, web |
13,182 |
2,856 |
16,038 |
||
|
Whole Value of coal gross sales |
$ 1,788,593 |
$ 64,940 |
$ 1,853,533 |
||
|
Much less: Freight and dealing with prices |
(423,132) |
(21) |
(423,153) |
||
|
Much less: Depreciation, depletion and amortization – manufacturing (1) |
(81,009) |
(1,953) |
(82,962) |
||
|
Much less: Accretion on asset retirement obligations |
(10,178) |
(7,644) |
(17,822) |
||
|
Much less: Amortization of acquired intangibles, web |
(13,182) |
(2,856) |
(16,038) |
||
|
Much less: Idled and closed mine prices |
(9,892) |
(9,617) |
(19,509) |
||
|
Non-GAAP Value of coal gross sales |
$ 1,251,200 |
$ 42,849 |
$ 1,294,049 |
||
|
Tons offered |
11,726 |
771 |
12,497 |
||
|
Non-GAAP Value of coal gross sales per ton |
$ 106.70 |
$ 55.58 |
$ 103.55 |
||
|
(1) |
Depreciation, depletion and amortization – manufacturing excludes the depreciation, depletion and amortization associated to promoting, basic and administrative capabilities. |
|
9 Months Ended September 30, 2022 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Coal revenues |
$ 3,213,639 |
$ 58,206 |
$ 3,271,845 |
||
|
Much less: Whole Value of coal gross sales (per desk above) |
(1,788,593) |
(64,940) |
(1,853,533) |
||
|
GAAP Coal margin |
$ 1,425,046 |
$ (6,734) |
$ 1,418,312 |
||
|
Tons offered |
11,726 |
771 |
12,497 |
||
|
GAAP Coal margin per ton |
$ 121.53 |
$ (8.73) |
$ 113.49 |
||
|
GAAP Coal margin |
$ 1,425,046 |
$ (6,734) |
$ 1,418,312 |
||
|
Add: Depreciation, depletion and amortization – manufacturing (1) |
81,009 |
1,953 |
82,962 |
||
|
Add: Accretion on asset retirement obligations |
10,178 |
7,644 |
17,822 |
||
|
Add: Amortization of acquired intangibles, web |
13,182 |
2,856 |
16,038 |
||
|
Add: Idled and closed mine prices |
9,892 |
9,617 |
19,509 |
||
|
Non-GAAP Coal margin |
$ 1,539,307 |
$ 15,336 |
$ 1,554,643 |
||
|
Tons offered |
11,726 |
771 |
12,497 |
||
|
Non-GAAP Coal margin per ton |
$ 131.27 |
$ 19.89 |
$ 124.40 |
||
|
(1) |
Depreciation, depletion and amortization – manufacturing excludes the depreciation, depletion and amortization associated to promoting, basic and administrative capabilities. |
|
9 Months Ended September 30, 2021 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Coal revenues |
$ 1,362,119 |
$ 63,920 |
$ 1,426,039 |
||
|
Much less: Freight and dealing with success revenues |
(252,532) |
(504) |
(253,036) |
||
|
Non-GAAP Coal revenues |
$ 1,109,587 |
$ 63,416 |
$ 1,173,003 |
||
|
Tons offered |
11,785 |
1,030 |
12,815 |
||
|
Non-GAAP Coal gross sales realization per ton |
$ 94.15 |
$ 61.57 |
$ 91.53 |
||
|
Value of coal gross sales (unique of things proven individually beneath) |
$ 1,125,840 |
$ 56,520 |
$ 1,182,360 |
||
|
Depreciation, depletion and amortization – manufacturing (1) |
75,403 |
4,321 |
79,724 |
||
|
Accretion on asset retirement obligations |
10,170 |
9,800 |
19,970 |
||
|
Amortization of acquired intangibles, web |
9,749 |
(347) |
9,402 |
||
|
Whole Value of coal gross sales |
$ 1,221,162 |
$ 70,294 |
$ 1,291,456 |
||
|
Much less: Freight and dealing with prices |
(252,532) |
(504) |
(253,036) |
||
|
Much less: Depreciation, depletion and amortization – manufacturing (1) |
(75,403) |
(4,321) |
(79,724) |
||
|
Much less: Accretion on asset retirement obligations |
(10,170) |
(9,800) |
(19,970) |
||
|
Much less: Amortization of acquired intangibles, web |
(9,749) |
347 |
(9,402) |
||
|
Much less: Idled and closed mine prices |
(13,325) |
(10,215) |
(23,540) |
||
|
Non-GAAP Value of coal gross sales |
$ 859,983 |
$ 45,801 |
$ 905,784 |
||
|
Tons offered |
11,785 |
1,030 |
12,815 |
||
|
Non-GAAP Value of coal gross sales per ton |
$ 72.97 |
$ 44.47 |
$ 70.68 |
||
|
(1) |
Depreciation, depletion and amortization – manufacturing excludes the depreciation, depletion and amortization associated to promoting, basic and administrative capabilities. |
|
9 Months Ended September 30, 2021 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Coal revenues |
$ 1,362,119 |
$ 63,920 |
$ 1,426,039 |
||
|
Much less: Whole Value of coal gross sales (per desk above) |
(1,221,162) |
(70,294) |
(1,291,456) |
||
|
GAAP Coal margin |
$ 140,957 |
$ (6,374) |
$ 134,583 |
||
|
Tons offered |
11,785 |
1,030 |
12,815 |
||
|
GAAP Coal margin per ton |
$ 11.96 |
$ (6.19) |
$ 10.50 |
||
|
GAAP Coal margin |
$ 140,957 |
$ (6,374) |
$ 134,583 |
||
|
Add: Depreciation, depletion and amortization – manufacturing (1) |
75,403 |
4,321 |
79,724 |
||
|
Add: Accretion on asset retirement obligations |
10,170 |
9,800 |
19,970 |
||
|
Add: Amortization of acquired intangibles, web |
9,749 |
(347) |
9,402 |
||
|
Add: Idled and closed mine prices |
13,325 |
10,215 |
23,540 |
||
|
Non-GAAP Coal margin |
$ 249,604 |
$ 17,615 |
$ 267,219 |
||
|
Tons offered |
11,785 |
1,030 |
12,815 |
||
|
Non-GAAP Coal margin per ton |
$ 21.18 |
$ 17.10 |
$ 20.85 |
||
|
(1) |
Depreciation, depletion and amortization – manufacturing excludes the depreciation, depletion and amortization associated to promoting, basic and administrative capabilities. |
|
Three Months Ended June 30, 2022 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Non-GAAP Value of coal gross sales |
$ 450,994 |
$ 12,675 |
$ 463,669 |
||
|
Much less: price of bought coal offered |
(33,171) |
— |
(33,171) |
||
|
Adjusted price of produced coal offered |
$ 417,823 |
$ 12,675 |
$ 430,498 |
||
|
Produced tons offered |
3,929 |
254 |
4,183 |
||
|
Adjusted price of produced coal offered per ton (1) |
$ 106.34 |
$ 49.90 |
$ 102.92 |
||
|
(1) |
Value of produced coal offered per ton for our operations is calculated as non-GAAP price of produced coal offered divided by produced tons offered. |
|
Three Months Ended September 30, 2022 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Non-GAAP Value of coal gross sales |
$ 408,553 |
$ 16,803 |
$ 425,356 |
||
|
Much less: price of bought coal offered |
(21,222) |
— |
(21,222) |
||
|
Adjusted price of produced coal offered |
$ 387,331 |
$ 16,803 |
$ 404,134 |
||
|
Produced tons offered |
3,795 |
249 |
4,044 |
||
|
Adjusted price of produced coal offered per ton (1) |
$ 102.06 |
$ 67.48 |
$ 99.93 |
||
|
(1) |
Value of produced coal offered per ton for our operations is calculated as non-GAAP price of produced coal offered divided by produced tons offered. |
|
Three Months Ended September 30, 2021 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Non-GAAP Value of coal gross sales |
$ 335,582 |
$ 16,518 |
$ 352,100 |
||
|
Much less: price of bought coal offered |
(32,168) |
— |
(32,168) |
||
|
Adjusted price of produced coal offered |
$ 303,414 |
$ 16,518 |
$ 319,932 |
||
|
Produced tons offered |
4,107 |
348 |
4,455 |
||
|
Adjusted price of produced coal offered per ton (1) |
$ 73.88 |
$ 47.47 |
$ 71.81 |
||
|
(1) |
Value of produced coal offered per ton for our operations is calculated as non-GAAP price of produced coal offered divided by produced tons offered. |
|
9 Months Ended September 30, 2022 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Non-GAAP Value of coal gross sales |
$ 1,251,200 |
$ 42,849 |
$ 1,294,049 |
||
|
Much less: price of bought coal offered |
(82,235) |
(37) |
(82,272) |
||
|
Adjusted price of produced coal offered |
$ 1,168,965 |
$ 42,812 |
$ 1,211,777 |
||
|
Produced tons offered |
11,377 |
770 |
12,147 |
||
|
Adjusted price of produced coal offered per ton (1) |
$ 102.75 |
$ 55.60 |
$ 99.76 |
||
|
(1) |
Value of produced coal offered per ton for our operations is calculated as non-GAAP price of produced coal offered divided by produced tons offered. |
|
9 Months Ended September 30, 2021 |
|||||
|
(In 1000’s, apart from per ton knowledge) |
Met |
All Different |
Consolidated |
||
|
Non-GAAP Value of coal gross sales |
$ 859,983 |
$ 45,801 |
$ 905,784 |
||
|
Much less: price of bought coal offered |
(75,074) |
— |
(75,074) |
||
|
Adjusted price of produced coal offered |
$ 784,909 |
$ 45,801 |
$ 830,710 |
||
|
Produced tons offered |
11,028 |
1,030 |
12,058 |
||
|
Adjusted price of produced coal offered per ton (1) |
$ 71.17 |
$ 44.47 |
$ 68.89 |
||
|
(1) |
Value of produced coal offered per ton for our operations is calculated as non-GAAP price of produced coal offered divided by produced tons offered. |
|
Three Months Ended September 30, 2022 |
|||||||
|
(In 1000’s, apart from per ton knowledge) |
Tons Bought |
Coal Revenues |
Non-GAAP |
% of Met Tons |
|||
|
Export – different pricing mechanisms |
1,433 |
$ 299,218 |
$ 208.81 |
41 % |
|||
|
Home |
945 |
189,224 |
$ 200.24 |
27 % |
|||
|
Export – Australian listed |
1,144 |
184,848 |
$ 161.58 |
32 % |
|||
|
Whole Met section – met coal |
3,522 |
$ 673,290 |
$ 191.17 |
100 % |
|||
|
Met section – thermal coal |
374 |
44,763 |
$ 119.69 |
||||
|
Whole Met section Coal revenues |
3,896 |
718,053 |
$ 184.31 |
||||
|
All Different Coal revenues |
249 |
27,208 |
$ 109.27 |
||||
|
Non-GAAP Coal revenues |
4,145 |
$ 745,261 |
$ 179.80 |
||||
|
Add: Freight and dealing with success revenues |
— |
122,588 |
|||||
|
Coal revenues |
4,145 |
$ 867,849 |
|||||
SOURCE Alpha Metallurgical Assets, Inc.
