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(Adds details) April 30 (Reuters) - Alpha Natural Resources Inc reported a bigger-than-expected adjusted quarterly loss after selling less coal at lower prices, but the U.S. coal miner posted its first net profit in more than three years. Alpha, which idled some of its mines in West Virginia earlier this year, said its revenue fell 24 percent to $842 million in the three months to March 31 as sales volumes dropped more than 11 percent. The company said it expected prices for both steel-making and power generating coal to fall further this year as market conditions remain weak. Coal miners have been hit as utilities switch to cheaper natural gas and Chinese demand falls due to a slowing economy. Peabody Energy Corp and Arch Coal Inc reported bigger-than-expected losses last week. However, Alpha recorded a net profit of $68.2 million, or 30 cents per share, helped by a $364 million gain from early repayment of debt. Excluding items, the company reported a loss of 79 cents per share, more than the average analyst forecast of 73 cents, according to Thomson Reuters I/B/E/S. Alpha cut its 2015 capital spending plan to $200 million-$250 million from $225 million-$275 million set a year ago. Up to Wednesday's close of 82 cents, the company's shares had fallen 50 percent this year. (Reporting by Anet Josline Pinto in Bengaluru; Editing by Maju Samuel and Ted Kerr)
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Arch Coal Inc
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PRODUCER |
CODE : ACI |
ISIN : US0393801008 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Arch Coal is a coal producing company based in United states of america. Arch Coal holds various exploration projects in USA. Its main assets in production are WEST ELK, BLACK THUNDER and JACOB'S RANCH in USA and its main asset in development is SPRUCE N° 1 in USA. Arch Coal is listed in Germany and in United States of America. Its market capitalisation is US$ 366 000 as of today (€ 317 981). Its stock quote reached its highest recent level on June 27, 2003 at US$ 99.96, and its lowest recent point on October 04, 2018 at US$ 0.01. Arch Coal has 36 600 000 shares outstanding. |