Critical Materials & Supply Chain▼
Alpha Metallurgical Cuts Shipment Guidance After Storm Damage
Alpha Metallurgical Resources lowered its full-year shipment guidance and raised its cost outlook after a rough second quarter. Adjusted EBITDA fell to $25.6 million from $30 million in the first quarter, while shipments slipped to 3.5 million tons from 3.6 million. Full-year shipment guidance dropped to a range of 14.2 million to 15.4 million tons, a cut of about 1 million tons at the midpoint, driven by weak met markets and a damaged stacker reclaimer at the DTA export terminal hit by winds over 80 miles per hour on June 14. Cost guidance rose to $103 to $107 per ton, up $7 at the midpoint, largely because of higher diesel and supply costs tied to the Iran war. Cash from operating activities rose to $39.9 million from $29 million, and the company ended June with $447.8 million in total liquidity.