| Arch Coal posts smaller loss, stops dividend payments | |
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ST. LOUIS (AP) -- Arch Coal reported a smaller quarterly loss on Tuesday thanks to an increase in revenue.
The St. Louis-based company also announced that it will stop paying dividends to investors, another way to preserve cash. Last year, the company froze pension benefits for its employees.
"In light of the ongoing market weakness, we believe that suspending the dividend is a prudent step to preserve our liquidity," said John Drexler, Arch's chief financial officer, in a statement.
Arch Coal reported a loss of $240.1 million, or $1.13 per share, for the fourth quarter. It lost $371.2 million, or $1.75 per share, a year ago. Its revenue rose 4 percent to $745.2 million.
Analysts expected a smaller loss of 38 cents per share, according to analysts surveyed by Zacks Investment Research. But the company's revenue beat the consensus estimate of $720.6 million.
For the year, the company reported that its loss narrowed to $558.4 million, or $2.63 per share. Revenue came in at $2.94 billion.
Cheap natural gas has weakened demand for coal over the past year, leading investors to flee coal mining companies.
The company's battered stock rose 14 cents to $1.09 in midday trading Tuesday. Arch Coal's shares have already lost 42 percent in the new year.
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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACI at http://www.zacks.com/ap/ACI
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Keywords: Arch Coal, Earnings Report
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Arch Coal Inc
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PRODUCTEUR |
CODE : ACI |
ISIN : US0393801008 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Arch Coal est une société de production minière de charbon basée aux Etats-Unis D'Amerique. Arch Coal détient divers projets d'exploration en USA. Ses principaux projets en production sont WEST ELK, BLACK THUNDER et JACOB'S RANCH en USA et son principal projet en développement est SPRUCE N° 1 en USA. Arch Coal est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 366 000 US$ (317 981 €). La valeur de son action a atteint son plus haut niveau récent le 27 juin 2003 à 99,96 US$, et son plus bas niveau récent le 04 octobre 2018 à 0,01 US$. Arch Coal possède 36 600 000 actions en circulation. |