#United States #Coal Industry #Alpha Metallurgical #Bristol #Metallurgical Products

Alpha Metallurgical Resources Reports Preliminary Results for Q4 2025

Alpha Metallurgical Resources, Inc. (NYSE: AMR), a prominent supplier of metallurgical products in the steel sector, recently unveiled its preliminary and unaudited financial outcomes for the fourth quarter ending December 31, 2025. The comprehensive audited financial results are scheduled for release on February 27, 2026.

Financial Overview

In the fourth quarter, Alpha recorded a net loss of $17.3 million, equating to a loss of $1.34 per diluted share. In contrast, the company's Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at $28.5 million, reflecting the challenges faced during the period.

Challenges in the Market

Andy Eidson, the CEO of Alpha, commented on the financial results, attributing the net loss primarily to the enduring difficulties within the metallurgical coal market throughout 2025. He noted that while there was a rise in low-vol metallurgical coal indexes towards the end of December, significant gains were deferred to early 2026 due to the timing of market improvements.

Amidst these challenges, Eidson highlighted that Alpha's cost management strategies yielded stronger performance in their operational costs, aligning with the lower end of the company's guidance parameters for the entire year.

Coal Sales Performance

In terms of coal sales, for the fourth quarter, Alpha sold 3.8 million tons of coal, generating a total coal revenue of $519.1 million. Notably, when excluding freight handling expenses, the revenue accounted for $436.3 million. The average realized price for metallurgical coal was $115.31 per ton during this quarter. The company categorized its sales into different pricing mechanisms:

• - Export (Other Pricing Mechanisms): 1.8 million tons sold, $187.6 million revenue, average realization of $106.13/ton (50% of sales)
• - Domestic Sales: 0.8 million tons sold, $116.9 million revenue, average realization of $148.93/ton (22% of sales)
• - Australian Indexed Export: 1.0 million tons sold, $111.4 million revenue, average realization of $114.96/ton (28% of sales)

Liquidity Snapshot

As of December 31, 2025, Alpha’s total liquidity amounted to $524.3 million. This included $366.0 million in cash and cash equivalents, alongside $183.7 million in unused credit through its asset-based revolving credit facility. The company reported no outstanding borrowings at this time.

Share Repurchase Program

In a notable development, Alpha’s board had previously authorized a comprehensive share repurchase program of up to $1.5 billion, aimed at enhancing shareholder value. To date, approximately 6.9 million shares have been repurchased at a cost nearing $1.1 billion, with an additional $20 million allocated in Q4 2025 for repurchasing roughly 113,000 shares.

Looking Ahead

Eidson expressed optimism for 2026, stating, “We remain committed to our safety and operational goals while identifying opportunities to leverage the anticipated strengthening in the metallurgical coal pricing environment.”

The official announcement of Alpha's finalized fourth quarter and annual results will provide shareholders and analysts with deeper insights into the company's operational performance and strategic positioning as the market evolves.

For those interested, the live conference call regarding these results is scheduled for February 27, 2026, at 10 a.m. Eastern Time, furthering transparency and engagement with stakeholders.

For more detailed information, individuals can access Alpha's investor relations section at Alpha Metallurgical Resources.