10:10:05 EDT Fri 07 Aug 2026
Enter Symbol
or Name
USA
CA



Alpha Announces Financial Results for Second Quarter 2026

2026-08-07 07:30 ET - News Release

Alpha Announces Financial Results for Second Quarter 2026

PR Newswire

  • Reports second quarter net loss of $12.3 million and Adjusted EBITDA of $25.6 million

BRISTOL, Tenn., August 7, 2026 /PRNewswire/ -- Alpha Metallurgical Resources, Inc. (NYSE: AMR), a leading U.S. supplier of metallurgical products for the steel industry, today reported financial results for the second quarter ending June 30, 2026.

                                             (millions, except per share)


                                                       Three months ended


                                    Jun. 30,                  Mar. 31,    Jun. 30,
                                       2026                       2026         2025



 
 Net loss                         ($12.3)                   ($11.0)      ($5.0)


    Net loss per diluted share       ($0.96)                   ($0.86)     ($0.38)


    Adjusted EBITDA
          
 (1)    $25.6                      $30.0        $46.1



 
 Operating cash flow                $39.9                      $29.0        $53.2



 
 Capital expenditures             ($45.1)                   ($40.7)     ($34.6)



 
 Tons of coal sold                    3.5                        3.6          3.9




 
 1. This is a non-GAAP financial measure. A reconciliation of Net Loss to Adjusted EBITDA is included in tables accompanying the financial schedules.

"Due to several factors, we closed out the first half of 2026 with fewer tons shipped and higher costs than expected," said Andy Eidson, Alpha's chief executive officer. "Those realities are evident in our second quarter results, and they informed our decision to release adjusted guidance ranges for sales volumes and cost of coal sales. We continue to engage with terminal leaders at Dominion Terminal Associates (DTA) to address the high-wind storm damage that occurred in June. Our reduced sales volume guidance for the balance of the year incorporates our expectations of reduced efficiency at DTA, which we plan to mitigate in part by utilizing our throughput capacity at other East Coast terminals. Once the insurance claims process advances, alongside conversations with third party equipment providers, terminal leadership should gain additional clarity regarding the longer-term plan for replacing the stacker reclaimer. In the immediate term, however, we remain appreciative of the cooperation from DTA leaders in working through these challenges and their resourcefulness in keeping the terminal running as well as possible under the circumstances."

Eidson continued: "With soft met market conditions persisting, our increased cost of coal sales guidance incorporates our expectation of fewer shipped tons for the year, together with the continuation of higher supply costs we've been experiencing."

Financial Performance

Alpha reported a net loss of $12.3 million, or $0.96 per diluted share, for the second quarter, as compared to net loss of $11.0 million, or $0.86 per diluted share, in the first quarter.

Total Adjusted EBITDA was $25.6 million for the second quarter, compared to $30.0 million in the first quarter.

Coal Revenues

                                                  
         (millions)


                                                              Three months ended


                                                   Jun. 30,                      Mar. 31,
                                                      2026                           2026



   
 Met segment                                    $491.5                         $523.5


      Met segment (excl. freight & handling)
 (1)    $421.3                         $447.3





   
 Tons Sold                                   
         (millions)

---

                                                              Three months ended


                                                   Jun. 30,                      Mar. 31,
                                                      2026                           2026



   
 Met segment                                       3.5                            3.6




 
 1. Represents Non-GAAP coal revenues which is defined and reconciled under "Non-GAAP Financial Measures" and "Results of Operations."

Coal Sales Realization(1)

             
         (per ton)


                         Three months ended


              Jun. 30,                      Mar. 31,
                 2026                           2026


 Met segment   $118.71                        $124.39




 
 1. Represents Non-GAAP coal sales realization which is defined and reconciled under "Non-GAAP Financial Measures" and "Results of Operations."

Second quarter net realized pricing for the Met segment was $118.71 per ton.

The table below provides a breakdown of our Met segment coal sold in the second quarter by pricing mechanism.

                                                                    
      (in millions, except per ton data)



          
            Met Segment Sales                                          Three months ended Jun. 30, 2026


                                                          Tons Sold   Coal Revenues                               Realization/
                                                                                                                       ton

                                                                                                                              (1)        % of Met Tons
                                                                                                                                    Sold



          
            Domestic                                0.9           $124.8                                        $134.37                  30 %



          
            Export - Australian indexed             0.7            $98.5                                        $143.82                  22 %



          
            Export - other pricing mechanisms       1.5           $162.9                                        $109.08                  48 %



          
            Total Met coal revenues                 3.1           $386.2                                        $124.30                 100 %



          
            Thermal coal revenues                   0.4            $35.1                                         $79.36



          
            Total Met segment coal revenues         3.5           $421.3                                        $118.71
(excl. freight & handling)
            
              (1)




 
 1. Represents Non-GAAP coal sales realization which is defined and reconciled under "Non-GAAP Financial Measures" and "Results of Operations."


Cost of Coal Sales

                                                            (in millions, except per
                                                                     ton data)


                                                                      Three months ended


                                                     Jun. 30, 2026                       Mar. 31, 2026



 
 Met segment                                             $443.7                               $474.4


    Met segment (excl. freight & handling/idle)
 (1)        $365.8                               $388.3




                                                         
          (per ton)



 
 Met segment
            (1)                            $103.07                              $107.98




 
 1. Represents Non-GAAP cost of coal sales and Non-GAAP cost of coal sales per ton which is defined and reconciled under "Non-GAAP Financial Measures" and "Results of Operations."

Alpha's Met segment cost of coal sales decreased to an average of $103.07 per ton in the second quarter, compared to $107.98 per ton in the first quarter.

Liquidity and Capital Resources

Cash provided by operating activities in the second quarter increased to $39.9 million as compared to $29.0 million in the first quarter. Capital expenditures for the second quarter were $45.1 million compared to $40.7 million for the first quarter.

As of June 30, 2026, the company had total liquidity of $447.8 million, including cash and cash equivalents of $307.6 million, short-term investments of $30.9 million, and $184.3 million of unused availability under the asset-based revolving credit facility (ABL), partially offset by a minimum required liquidity of $75.0 million as required by the ABL. As of June 30, 2026, the company had no amounts borrowed and $40.7 million in letters of credit outstanding under the ABL. Total long-term debt, including the current portion of long-term debt as of June 30, 2026, was $11.4 million.

Share Repurchase Program

As previously announced, Alpha's board of directors authorized a share repurchase program allowing for the expenditure of up to $1.5 billion for the repurchase of the company's common stock. As of July 31, 2026, the company had acquired approximately 7.0 million shares of common stock at a cost of approximately $1.2 billion, or approximately $166.29 per share. The number of common stock shares outstanding as of July 31, 2026 was 12,679,045, not including the potential effect of unvested equity awards.

The timing and amount of share repurchases will be based on various factors, including but not limited to market conditions, the trading price of the stock, applicable legal requirements, compliance with the provisions of the company's debt agreements, and other factors.

2026 Operational Performance Update

As of July 30, 2026, Alpha has committed and priced approximately 70% of its metallurgical coal for 2026 at an average price of $128.17 per ton. At the midpoint of guidance, Alpha's thermal coal is fully committed for the year at an average price of $75.94 per ton.

                                                                                  2026 Guidance


   
         
            
              in millions of tons    Low                   High


                                    
          Metallurgical      13.2                  14.0


                                          
          Thermal       1.0                   1.4


       
          
            Met segment - total shipments      14.2                  15.4




                                            Committed/Priced
                                                       1,2,3 Committed               Volume     Average Price
                                                                       (in millions
                                                                            of
                                                                          tons)


                         
          Metallurgical - domestic                            3.8            $136.18


                           
          Metallurgical - export                            5.7            $122.77


                              
          Metallurgical total      70 %                  9.5            $128.17


                                          
          Thermal     100 %                  1.3             $75.94


                         
          
            Met segment      73 %                 10.8            $121.94




                                          Committed/Unpriced
                                                         1,3 Committed


                              
          Metallurgical total      30 %


                                          
          Thermal       - %


                         
          
            Met segment      27 %




     Costs per ton
            
            
              4    Low                   High


                                      
          Met segment   $103.00               $107.00




 
    
            
              in millions (except taxes)    Low                   High


                                            
          SG&A5       $53                   $59


                          
          Idle operations expense       $24                   $32


                         
          Net cash interest income        $2                    $6


                                             
          DD&A      $160                  $174


                             
          Capital expenditures      $148                  $168


      
          Capital contributions to equity affiliates6       $35                   $45


                                    
          Cash tax rate       0 %                  5 %


 
   Notes:


    
     1. 
 Based on committed and priced coal shipments as of July 30, 2026. Committed percentage based on the midpoint of shipment guidance range.


    
     2.   Actual average per-ton realizations on committed and priced tons recognized in future periods may vary based on actual freight expense in future periods relative to assumed freight expense embedded in
                projected average per-ton realizations.


    
     3. 
 Includes estimates of future coal shipments based upon contract terms and anticipated delivery schedules. Actual coal shipments may vary from these estimates.


    
     4.   Note: The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP cost of coal sales per ton sold financial measures to the most directly comparable GAAP measures without
                unreasonable efforts due to the inherent difficulty in forecasting and quantifying with reasonable accuracy significant items required for the reconciliation. The most directly comparable GAAP measure, GAAP
                cost of sales, is not accessible without unreasonable efforts on a forward-looking basis. The reconciling items include freight and handling costs, which are a component of GAAP cost of sales. Management
                is unable to predict without unreasonable efforts freight and handling costs due to uncertainty as to the end market and FOB point for uncommitted sales volumes and the final shipping point for export
                shipments. These amounts have varied historically and may continue to vary significantly from quarter to quarter and material changes to these items could have a significant effect on our future GAAP
                results.


    
     5. 
 Excludes expenses related to non-cash stock compensation and non-recurring expenses.


    
     6. 
 Includes contributions to fund normal operations at our DTA export facility and expected capital investments related to the facility upgrades.

Conference Call

The company plans to hold a conference call regarding its second quarter results on August 7, 2026, at 10:00 a.m. Eastern time. The conference call will be available live on the investor section of the company's website at https://alphametresources.com/investors. Analysts who would like to participate in the conference call should dial 877-407-0832 (domestic toll-free) or 201-689-8433 (international) approximately 15 minutes prior to start time.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources (NYSE: AMR) is a Tennessee-based mining company with operations across Virginia and West Virginia. With customers across the globe, high-quality reserves and significant port capacity, Alpha reliably supplies metallurgical products to the steel industry. For more information, visit www.AlphaMetResources.com.

Forward-Looking Statements

This news release includes forward-looking statements. These forward-looking statements are based on Alpha's expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Alpha's control. Forward-looking statements in this news release or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Alpha to predict these events or how they may affect Alpha. Except as required by law, Alpha has no duty to, and does not intend to, update or revise the forward-looking statements in this news release or elsewhere after the date this release is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this news release may not occur. See Alpha's filings with the U.S. Securities and Exchange Commission for more information.

FINANCIAL TABLES FOLLOW

Non-GAAP Financial Measures

The discussion below contains "non-GAAP financial measures." These are financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with generally accepted accounting principles in the United States ("U.S. GAAP" or "GAAP"). Specifically, we make use of the non-GAAP financial measures "Adjusted EBITDA," "non-GAAP coal revenues," "non-GAAP coal sales realization per ton," "non-GAAP cost of coal sales," "non-GAAP cost of coal sales per ton," "non-GAAP coal margin," and "non-GAAP coal margin per ton." In addition to net income (loss), we use Adjusted EBITDA to measure the operating performance of our reportable segment. Adjusted EBITDA does not purport to be an alternative to net income (loss) as a measure of operating performance or any other measure of operating results, financial performance, or liquidity presented in accordance with GAAP. Moreover, this measure is not calculated identically by all companies and therefore may not be comparable to similarly titled measures used by other companies. Adjusted EBITDA is presented because management believes it is a useful indicator of the financial performance of our coal operations. We use non-GAAP coal revenues to present coal revenues generated, excluding freight and handling fulfillment revenues. Non-GAAP coal sales realization per ton is calculated as non-GAAP coal revenues divided by tons sold. We use non-GAAP cost of coal sales to adjust cost of coal sales to remove freight and handling costs, depreciation, depletion and amortization - production (excluding the depreciation, depletion and amortization related to selling, general and administrative functions), accretion on asset retirement obligations, amortization of acquired intangibles, and idled and closed mine costs. Non-GAAP cost of coal sales per ton is calculated as non-GAAP cost of coal sales divided by tons sold. Non-GAAP coal margin is calculated as non-GAAP coal revenues less non-GAAP cost of coal sales. Non-GAAP coal margin per ton is calculated as non-GAAP coal margin divided by tons sold. The presentation of these measures should not be considered in isolation, or as a substitute for analysis of our results as reported under GAAP.

Management uses non-GAAP financial measures to supplement GAAP results to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone. The definition of these non-GAAP measures may be changed periodically by management to adjust for significant items important to an understanding of operating trends and to adjust for items that may not reflect the trend of future results by excluding transactions that are not indicative of our core operating performance. Furthermore, analogous measures are used by industry analysts to evaluate our operating performance. Because not all companies use identical calculations, the presentations of these measures may not be comparable to other similarly titled measures of other companies and can differ significantly from company to company depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which companies operate, capital investments and other factors.

Included below are reconciliations of non-GAAP financial measures to GAAP financial measures.


          
            ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES


          
            CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)


          
            (Amounts in thousands, except share and per share data)




                                                                                               Three Months Ended June 30,                  Six Months Ended June 30,


                                                                                          2026       2025                 2026         2025



          Revenues:



          Coal revenues                                                              $491,505   $548,675           $1,015,038   $1,078,342



          Other revenues                                                                1,351      1,599                2,805        3,889



          Total revenues                                                              492,856    550,274            1,017,843    1,082,231



          Costs and expenses:



          Cost of coal sales (exclusive of items shown                                443,663    479,953              918,052      984,537
separately below)



          Depreciation, depletion and amortization                                     36,044     44,822               75,970       88,732



          Accretion on asset retirement obligations                                     5,214      5,508               10,429       11,122



          Amortization of acquired intangibles                                            876      1,357                1,752        2,714



          Selling, general and administrative                                          17,257     15,216               33,855       30,640
expenses (exclusive of depreciation,
depletion and amortization shown
separately above)



          Other operating loss (income)                                                   302        763              (1,283)       2,006



          Total costs and expenses                                                    503,356    547,619            1,038,775    1,119,751



          (Loss) income from operations                                              (10,500)     2,655             (20,932)    (37,520)



          Other (expense) income:



          Interest expense                                                              (962)     (761)             (1,803)     (1,524)



          Interest income                                                               2,919      4,199                7,125        8,245



          Equity loss in affiliates                                                   (6,717)   (8,736)            (12,450)    (13,696)



          Miscellaneous expense, net                                                  (3,587)   (3,559)             (7,145)     (7,091)



          Total other expense, net                                                    (8,347)   (8,857)            (14,273)    (14,066)



          Loss before income taxes                                                   (18,847)   (6,202)            (35,205)    (51,586)



          Income tax benefit                                                            6,595      1,248               11,921       12,685



          Net loss                                                                  $(12,252)  $(4,954)           $(23,284)   $(38,901)





          Basic loss per common share                                                 $(0.96)   $(0.38)             $(1.83)     $(2.98)



          Diluted loss per common share                                               $(0.96)   $(0.38)             $(1.83)     $(2.98)





          Weighted average shares - basic                                          12,713,728 13,057,749           12,756,644   13,052,706



          Weighted average shares - diluted                                        12,713,728 13,057,749           12,756,644   13,052,706


          
            ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES


          
            CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)


          
            (Amounts in thousands, except share and per share data)




                                                                                                                                                                                                   June 30, 2026 December 31, 2025


                                                                                          
       
            Assets



          Current assets:



          Cash and cash equivalents                                                                                                                                                                    $307,595           $365,974



          Short-term investments                                                                                                                                                                         30,887             49,582



          Trade accounts receivable, net of allowance for credit losses of $2,714 and $2,519                                                                                                            230,565            278,620
as of June 30, 2026 and December 31, 2025, respectively



          Inventories, net                                                                                                                                                                              262,435            193,000



          Prepaid expenses and other current assets                                                                                                                                                      30,981             31,132



          Total current assets                                                                                                                                                                          862,463            918,308



          Property, plant, and equipment, net of accumulated depreciation and amortization                                                                                                              637,737            621,866
of $837,738 and $774,101 as of June 30, 2026 and December 31, 2025,
respectively



          Owned and leased mineral rights, net of accumulated depletion and amortization of                                                                                                             408,456            416,944
                                                                                                                                $162,223 and $150,616 as of June 30, 2026 and December 31, 2025, respectively



          Other acquired intangibles, net of accumulated amortization of $44,825 and                                                                                                                     32,700             34,452
                                                                                                                                              $43,072 as of June 30, 2026 and December 31, 2025, respectively



          Long-term restricted cash                                                                                                                                                                     128,219            126,911



          Long-term restricted investments                                                                                                                                                               34,453             34,356



          Deferred income taxes                                                                                                                                                                           8,361              8,087



          Other non-current assets                                                                                                                                                                      143,358            119,702



          Total assets                                                                                                                                                                               $2,255,747         $2,280,626


                                                                           
          
         Liabilities and Stockholders' Equity



          Current liabilities:



          Current portion of long-term debt                                                                                                                                                              $3,199             $3,575



          Trade accounts payable                                                                                                                                                                         86,714             66,169



          Accrued expenses and other current liabilities                                                                                                                                                163,346            135,778



          Total current liabilities                                                                                                                                                                     253,259            205,522



          Long-term debt                                                                                                                                                                                  8,202              9,841



          Workers' compensation and black lung obligations                                                                                                                                              188,596            190,965



          Pension obligations                                                                                                                                                                            76,077             87,317



          Asset retirement obligations                                                                                                                                                                  204,242            204,745



          Deferred income taxes                                                                                                                                                                           5,237             15,433



          Other non-current liabilities                                                                                                                                                                  21,315             21,308



          Total liabilities                                                                                                                                                                             756,928            735,131



          Commitments and Contingencies


                                                                                   
          
         Stockholders' Equity



          Preferred stock - par value $0.01, 5,000,000 shares authorized, none issued                                                                                                                         -



          Common stock - par value $0.01, 50,000,000 shares authorized, 22,496,891 issued                                                                                                                   225                224
and 12,685,495 outstanding at June 30, 2026 and 22,437,379 issued and 12,805,909
outstanding at December 31, 2025



          Additional paid-in capital                                                                                                                                                                    860,001            852,030



          Accumulated other comprehensive loss                                                                                                                                                         (55,187)          (60,433)



          Treasury stock, at cost: 9,811,396 shares at June 30, 2026 and 9,631,470 shares at                                                                                                        (1,377,653)       (1,341,027)
December 31, 2025



          Retained earnings                                                                                                                                                                           2,071,433          2,094,701



          Total stockholders' equity                                                                                                                                                                  1,498,819          1,545,495



          Total liabilities and stockholders' equity                                                                                                                                                 $2,255,747         $2,280,626


 
            ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES


 
            CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)


 
            (Amounts in thousands)




                                                                                                Six Months Ended June 30,


                                                                                           2026         2025



 
            Operating activities:



 Net loss                                                                            $(23,284)   $(38,901)



 Adjustments to reconcile net loss to net cash provided by operating activities:



 Depreciation, depletion and amortization                                               75,970       88,732



 Amortization of acquired intangibles                                                    1,752        2,714



 (Gain) loss on disposal of assets, net                                                (2,071)         138



 Accretion on asset retirement obligations                                              10,429       11,122



 Employee benefit plans, net                                                            14,646       11,628



 Deferred tax benefit                                                                 (11,932)    (12,663)



 Stock-based compensation                                                                7,972        7,455



 Equity loss in affiliates                                                              12,450       13,696



 Other, net                                                                              2,250          365



 Changes in operating assets and liabilities                                          (19,272)     (8,874)



 
            Net cash provided by operating activities                                 68,910       75,412



 
            Investing activities:



 Capital expenditures                                                                 (85,816)    (73,092)



 Capital contributions to equity affiliates                                           (23,325)    (23,509)



 Purchases of investment securities                                                   (48,886)    (29,303)



 Sales and maturities of investment securities                                          68,327       30,630



 Other, net                                                                              2,139          107



 
            Net cash used in investing activities                                   (87,561)    (95,167)



 
            Financing activities:



 Principal repayments of long-term debt                                                (1,620)     (1,561)



 Common stock repurchases and related expenses                                        (36,728)     (5,155)



 Other, net                                                                               (72)     (2,557)



 
            Net cash used in financing activities                                   (38,420)     (9,273)



 Net decrease in cash and cash equivalents and restricted cash                        (57,071)    (29,028)



 Cash and cash equivalents and restricted cash at beginning of period                  492,885      604,161



 Cash and cash equivalents and restricted cash at end of period                       $435,814     $575,133





 
            Supplemental disclosure of noncash investing and financing activities:



 Accrued capital expenditures                                                          $10,967       $7,831

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Condensed Consolidated Statements of Cash Flows.

                                                                                               As of June 30,


                                                                                          2026       2025



          Cash and cash equivalents                                                  $307,595   $449,027



          Long-term restricted cash                                                   128,219    126,106



          Total cash and cash equivalents and restricted cash shown in the Condensed $435,814   $575,133
Consolidated Statements of Cash Flows


 
            ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES


 
            ADJUSTED EBITDA RECONCILIATION


 
            (Amounts in thousands)




                                                                            
 
 Three Months Ended                         Six Months Ended June 30,


                                                                     June 30,           March 31,  June 30,
                                                                        2026                2026        2025          2026              2025



 Net loss                                                          $(12,252)           $(11,032)  $(4,954)   $(23,284)        $(38,901)



 Interest expense                                                        962                  841        761        1,803             1,524



 Interest income                                                     (2,919)             (4,206)   (4,199)     (7,125)          (8,245)



 Income tax benefit                                                  (6,595)             (5,326)   (1,248)    (11,921)         (12,685)



 Depreciation, depletion and amortization                             36,044               39,926     44,822       75,970            88,732



 Non-cash stock compensation expense                                   4,236                3,736      4,018        7,972             7,455



 Accretion on asset retirement obligations                             5,214                5,215      5,508       10,429            11,122



 Amortization of acquired intangibles                                    876                  876      1,357        1,752             2,714



 Adjusted EBITDA                                                     $25,566              $30,030    $46,065      $55,596           $51,716


 
            ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES


 
            RESULTS OF OPERATIONS




                                                                                
 
 Three Months Ended



 
            (In thousands, except for per ton data)              June 30, 2026           March 31,
                                                                                               2026    June 30, 2025



 Coal revenues                                                          $491,505             $523,533       $548,675



 Less: freight and handling fulfillment revenues                        (70,220)            (76,214)      (84,589)



 Non-GAAP coal revenues                                                 $421,285             $447,319       $464,086



 Non-GAAP coal sales realization per ton                                 $118.71              $124.39        $119.43





 Cost of coal sales (exclusive of items shown separately below)         $443,663             $474,389       $479,953



 Depreciation, depletion and amortization - production (1)                35,750               39,606         44,504



 Accretion on asset retirement obligations                                 5,214                5,215          5,508



 Amortization of acquired intangibles                                        876                  876          1,357



 Total cost of coal sales                                                485,503              520,086        531,322



 Less: freight and handling costs                                       (70,220)            (76,214)      (84,589)



 Less: depreciation, depletion and amortization - production (1)        (35,750)            (39,606)      (44,504)



 Less: accretion on asset retirement obligations                         (5,214)             (5,215)       (5,508)



 Less: amortization of acquired intangibles                                (876)               (876)       (1,357)



 Less: idled and closed mine costs                                       (7,654)             (9,872)       (6,520)



 Non-GAAP cost of coal sales                                            $365,789             $388,303       $388,844



 Non-GAAP cost of coal sales per ton                                     $103.07              $107.98        $100.06





 GAAP coal margin                                                         $6,002               $3,447        $17,353



 GAAP coal margin per ton                                                  $1.69                $0.96          $4.47





 Non-GAAP coal margin                                                    $55,496              $59,016        $75,242



 Non-GAAP coal margin per ton                                             $15.64               $16.41         $19.36





 Tons sold                                                                 3,549                3,596          3,886


 
 (1) Depreciation, depletion and amortization -production excludes the depreciation, depletion and amortization related to selling,
          general and administrative functions.

                                                                                Six Months Ended



 
            (In thousands, except for per ton data)            June 30, 2026                  June 30, 2025



 Coal revenues                                                      $1,015,038                      $1,078,342



 Less: freight and handling fulfillment revenues                     (146,434)                      (168,513)



 Non-GAAP coal revenues                                               $868,604                        $909,829



 Non-GAAP coal sales realization per ton                               $121.57                         $119.03





 Cost of coal sales (exclusive of items shown separately below)       $918,052                        $984,537



 Depreciation, depletion and amortization - production (1)              75,356                          88,096



 Accretion on asset retirement obligations                              10,429                          11,122



 Amortization of acquired intangibles                                    1,752                           2,714



 Total cost of coal sales                                            1,005,589                       1,086,469



 Less: freight and handling costs                                    (146,434)                      (168,513)



 Less: depreciation, depletion and amortization - production (1)      (75,356)                       (88,096)



 Less: accretion on asset retirement obligations                      (10,429)                       (11,122)



 Less: amortization of acquired intangibles                            (1,752)                        (2,714)



 Less: idled and closed mine costs                                    (17,526)                       (12,511)



 Non-GAAP cost of coal sales                                          $754,092                        $803,513



 Non-GAAP cost of coal sales per ton                                   $105.54                         $105.12





 GAAP coal margin                                                       $9,449                        $(8,127)



 GAAP coal margin per ton                                                $1.32                         $(1.06)





 Non-GAAP coal margin                                                 $114,512                        $106,316



 Non-GAAP coal margin per ton                                           $16.03                          $13.91





 Tons sold                                                               7,145                           7,644


 
 (1) Depreciation, depletion and amortization -production excludes the depreciation, depletion and amortization related to selling,
          general and administrative functions.

                                                                 
 
        Three Months Ended June 30, 2026



 
            (In thousands, except for per ton data) Tons Sold     Coal Revenues                               Non-GAAP        % of Met Tons
                                                                                                      Coal sales            Sold
                                                                                                     realization
                                                                                                          per
                                                                                                         ton



 Domestic                                                   929           $124,829                                 $134.37                  30 %



 Export - Australian indexed                                685             98,516                                 $143.82                  22 %



 Export - other pricing mechanisms                        1,493            162,863                                 $109.08                  48 %



 Total Met segment - met coal                             3,107            386,208                                 $124.30                 100 %



 Met segment - thermal coal                                 442             35,077                                  $79.36



 Non-GAAP coal revenues                                   3,549            421,285                                 $118.71



 Add: freight and handling fulfillment revenues                            70,220



 Coal revenues                                            3,549           $491,505

                                                                 
 
         Six Months Ended June 30, 2026



 
            (In thousands, except for per ton data) Tons Sold     Coal Revenues                               Non-GAAP        % of Met Tons
                                                                                                      Coal sales            Sold
                                                                                                     realization
                                                                                                          per
                                                                                                         ton



 Domestic                                                 1,737           $235,882                                 $135.80                  27 %



 Export - Australian indexed                              1,805            260,863                                 $144.52                  28 %



 Export - other pricing mechanisms                        2,916            319,844                                 $109.69                  45 %



 Total Met segment - met coal                             6,458            816,589                                 $126.45                 100 %



 Met segment - thermal coal                                 687             52,015                                  $75.71



 Non-GAAP coal revenues                                   7,145            868,604                                 $121.57



 Add: freight and handling fulfillment revenues                           146,434



 Coal revenues                                            7,145         $1,015,038

INVESTOR & MEDIA CONTACT: EMILY O'QUINN
InvestorRelations@AlphaMetResources.com
CorporateCommunications@AlphaMetResources.com
(423) 573-0369

View original content to download multimedia:https://www.prnewswire.com/news-releases/alpha-announces-financial-results-for-second-quarter-2026-302843848.html

SOURCE ALPHA METALLURGICAL RESOURCES, INC.

© 2026 Canjex Publishing Ltd. All rights reserved.