Market
Conference
Arch Coal reports loss, optimism
作者：1 發(fā)布時(shí)間：2010-04-20 文字大?。?span id="da">【大】【中】【小】
BY JEFFREY TOMICH
ST. LOUIS POST-DISPATCH
2010-04-20
Arch Coal Inc. posted a $1.8 million first-quarter loss. But the nation's No. 2 coal producer raised its earnings forecast for the year on rising energy demand.
Arch's net loss equaled a penny a share compared with profit of $30.6 million, or 21 cents, in the same period a year ago. Revenue increased 4.5 percent to $711.9 million.
Excluding a charge related to the Oct. 1 purchase of the Jacobs Ranch mining complex in Wyoming, Creve Coeur-based Arch earned $5 million, or 3 cents a share. That's below the 8-cent average estimate of analysts surveyed by Thomson Reuters.
Arch's sales volumes rose almost 7 million tons with the addition of the Jacobs Ranch mine. But the coal producer was paid less per ton as coal markets have weakened because of slack demand from power producers.
Demand for electricity and steel is expected to pick up as the year goes on, aided by the global economic rebound, the company said.
Arch raised its earnings forecast for the year from $1 to $1.40 a share. The company had previously expected earnings of 50 cents to $1 per share.
"We expect improved sales as we progress through 2010, particularly in the year's second half," Chief Executive Steven F. Leer said.
Arch plans to sell 147 million to 155 million tons of coal in 2010, up from 125 million tons last year.
The company also plans to expand output of so-called metallurgical coal to benefit from growing steel demand.
Sourced from: www.stltoday.com
Arch Coal Inc. posted a $1.8 million first-quarter loss. But the nation's No. 2 coal producer raised its earnings forecast for the year on rising energy demand.
Arch's net loss equaled a penny a share compared with profit of $30.6 million, or 21 cents, in the same period a year ago. Revenue increased 4.5 percent to $711.9 million.
Excluding a charge related to the Oct. 1 purchase of the Jacobs Ranch mining complex in Wyoming, Creve Coeur-based Arch earned $5 million, or 3 cents a share. That's below the 8-cent average estimate of analysts surveyed by Thomson Reuters.
Arch's sales volumes rose almost 7 million tons with the addition of the Jacobs Ranch mine. But the coal producer was paid less per ton as coal markets have weakened because of slack demand from power producers.
Demand for electricity and steel is expected to pick up as the year goes on, aided by the global economic rebound, the company said.
Arch raised its earnings forecast for the year from $1 to $1.40 a share. The company had previously expected earnings of 50 cents to $1 per share.
"We expect improved sales as we progress through 2010, particularly in the year's second half," Chief Executive Steven F. Leer said.
Arch plans to sell 147 million to 155 million tons of coal in 2010, up from 125 million tons last year.
The company also plans to expand output of so-called metallurgical coal to benefit from growing steel demand.
Sourced from: www.stltoday.com
Tianjin Over World Non Coke Iron Making Technical Consultancy Co.,Ltd. All Rights Reserved
Tel.:+86-22-24410619 Fax:+86-22-24410619
TJ ICP 1100023 Email:info@driinfo.com