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Earnings Overview - Alpha Natural Resources

LONDON, March 13, 2015 /PRNewswire/ --

Editor Note: For more information about this release, please scroll to bottom. has issued free earnings review on Alpha Natural Resources Inc. (NYSE: ANR). On February 12, 2015, the company announced its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on to read our free earnings review on Alpha Natural Resources Inc. (Alpha). The company reported total revenues of $1.07 billion for Q4 FY14 and $4.29 billion for FY14.  Alpha also reported adjusted EBITDA of $102.57 million in Q4 FY14 and $498.24 million for full-year FY14. Our free coverage report can be accessed at:

Earnings Overview 

During Q4 FY14, Alpha's total revenues fell by $23.09 million from $1.09 billion in Q4 FY13. The company's Q4 FY14 total revenues outperformed Bloomberg analysts' forecast of $994.33 million. Alpha's coal revenues declined to $931.54 million in Q4 FY14 from $965.57 million in Q4 FY13. For Q4 FY14, Freight and handling revenues, and other revenues came in at $118.49 million and $20.60 million, respectively, compared with $109.53 million and $18.60 million, respectively, in Q4 FY13. Free research on ANR can be downloaded in PDF format at:

For Q4 FY14, Alpha's metallurgical coal shipments were 4.9 million tons compared with 4.4 million tons in Q4 FY13. The company shipped 9.8 million tons of Powder River Basin (PBR) coal during the reported quarter compared with 9.3 million tons in Q4 FY13. The company's Eastern steam coal shipments were 7.3 million tons in Q4 FY13 compared with 6.8 million tons in Q4 FY13. The cost of coal sales per ton in the East averaged $55.55 in Q4 FY14 compared with $68.85 in Q4 FY13. Furthermore, cost of coal sales per ton for Alpha Coal West's PRB mines was $11.16 in Q4 FY14 compared with $10.29 in Q4 FY13.

In Q4 FY14, Alpha's net loss narrowed down to $121.66 million, or $0.55 loss per diluted share, from net loss of $358.79 million, or $1.62 loss per diluted share, in Q4 FY13. Analysts from Bloomberg had expected net loss of $156.80 million, or $0.68 loss per diluted share, in Q4 FY14. Moreover, the company's adjusted EBITDA for Q4 FY14 increased by $31.16 million from $71.42 million in Q4 FY13.

During Q4 FY14, Alpha received approximately $75 million in cash from the sale of AMFIRE assets and $15 million from the sale of its joint venture interest in Coal Handling Solutions. In the reported quarter, cash used in operating activities stood at $31 million compared with cash used in operating activities of $70 million in Q4 FY13. Sign up and read the free analyst's notes on ANR at:

For FY14, Alpha's total revenues fell by $666.43 million from $4.95 billion in FY13. Alpha reported net loss of $874.96 million, or $3.95 loss per diluted share in FY14, compared to net loss of $1.11 billion, or $5.04 loss per diluted share, in FY13. Analysts from Bloomberg had expected net loss of $920.83 million, or $4.12 loss per diluted share, on total revenues of $4.22 billion in FY14. Moreover, Alpha's FY14 adjusted EBITDA increased by $199.50 million from $298.74 million in FY13.

For full-year FY14, cash used in operating activities totaled $283.86 million compared to cash provided by operating activities of $109.02 million in FY13. As of December 31, 2014, Alpha had total liquidity of $2.15 billion, consisting of cash, cash equivalents and marketable securities of $1.27 billion.

Chairman and CEO of Alpha, Kevin Crutchfield, stated that 2014 was yet again a challenging year for the coal industry. Against this backdrop, the company continues to adjust its production base and cost structure to align with current market conditions, he added. These actions are yielding results as shown by the strong 2014 cost performance in the East, he asserted.

Looking at FY15, Alpha expects to ship between 69 and 80 million tons, including 14 to 17 million tons of Eastern metallurgical coal, 19 to 23 million tons of Eastern steam coal, and 36 to 40 million tons of Western steam coal. The company anticipates Eastern adjusted cost of coal sales per ton to be between $58.00 to $64.00, while Western adjusted cost of coal sales per ton is expected to be between $10.00 and $11.00 in FY15. Visit Investor-Edge and access the latest research on ANR at:

Stock Performance 

On the day of the earnings release, February 12, 2015, Alpha's stock surged 4.20% to end the session at $1.24. Since then, the stock has moved both ways. On the last close, Thursday, March 12, 2015, the company's shares finished 6.45% lower at $0.94, after vacillating between $0.93 and $1.04. A total of 3.82 million shares were traded which was below their three months average volume of 6.53 million shares. Over the previous three trading sessions and over the last one month, the company's shares have lost 10.86% and 23.80%, respectively. Further, the stock has declined 37.84% in the past three months. Shares in Alpha are trading below their 50-day and 200-day moving averages of $1.24 and $2.48, respectively.    

Sneak Peek to Corporate Insider Trading 

In the last one month, Alpha has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on ANR is available at:


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