Shares of Arch Resources Inc. (ARCH) surged 10.9% to a three-month high on Thursday after the company reported a fourth-quarter profit that was more than double what was expected. The coal producer and distributor reported net income of $470.5 million, or $23.18 per share, compared to $226.6 million, or $11.92 per share, in the same quarter of the previous year. This beat the average analyst estimate of $10.50 per share, according to FactSet.
Revenue for the quarter increased 6.7% to $859.5 million, significantly higher than the FactSet consensus of $859.5 million. The higher-than-expected revenue was driven by an increase in metallurgical revenue, which rose 13.4% to $516.7 million, and a decrease in thermal revenue, which fell 2.1% to $342.7 million. Metallurgical tons sold rose to 2.3 from 2.0 while thermal tons sold fell to 16.1 from 18.8.
The strong financial results for the quarter were attributed to “significantly improved” sales volumes, unit costs and cash margins, as well as a $253.3 million tax benefit. The stock has gained 7.7% over the past three months and 38.6% over the past 12 months. This is in contrast to the S&P 500 (SPX), which has tacked on 4.4% the past three months and declined 7.7% the past year.
Arch Resources Inc. is a leading producer and distributor of thermal coal. The company has operations in the United States and Canada, with a focus on providing reliable, low-cost energy to its customers. Arch Resources Inc. is committed to providing a safe and healthy workplace, as well as being a responsible steward of the environment and a good neighbor to the communities in which it operates.
Arch Resources Inc. has a long history of providing reliable and affordable energy to its customers. The company has grown significantly over the past few years, and is now one of the largest coal producers in North America. Arch Resources Inc. has a wide range of products, including thermal coal, metallurgical coal, and coal-based products such as coke, coal tar, and coal briquettes.
Arch Resources Inc. is committed to providing reliable, low-cost energy to its customers while also being a responsible steward of the environment. The company is committed to minimizing its environmental impacts and has implemented a number of initiatives to reduce its carbon footprint, including the use of renewable energy sources and the use of advanced technologies to reduce emissions. The company also works with local communities to ensure that its operations have a positive impact on the community.
Arch Resources Inc. is a leader in the coal industry, providing reliable and affordable energy to its customers while also being a responsible steward of the environment. The company’s strong financial results for the fourth quarter demonstrate its commitment to providing reliable, low-cost energy to its customers, and its ability to deliver on its promise to be a responsible steward of the environment. The company’s commitment to providing reliable, low-cost energy, coupled with its environmental stewardship, make it a leader in the coal industry and an attractive investment for those looking for a reliable and sustainable source of energy.
