Arch Coal (ACI) Bests Q2 Consensus Views, Offers Mixed Commentary; Peers on Watch (BTU) (CLD) (ANR)
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Price: $5.39 +1.13%
Revenue Growth %: -20.6%
Financial Fact:
Net income: -70.05M
Today's EPS Names:
UQM, BOSC, GASS, More
Revenue Growth %: -20.6%
Financial Fact:
Net income: -70.05M
Today's EPS Names:
UQM, BOSC, GASS, More
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Is coal back?
Ahead of the bell Friday, Arch Coal (NYSE: ACI) reported better than expected second-quarter results, with a loss of 10 cents per share coming in narrower than views calling for an 18 cents per share loss. The number excludes items that reads like a "honey-do" list: acquired sales contract amortization, exit costs arising from announced mine closures, goodwill impairment charges, one-time financing fees for debt restructuring initiatives and the related tax impacts of these items.
CEO John Eaves commented: "China and India remain on pace through June 2012 to surpass record coal import levels set in 2011. Arch also projects that U.S. coal exports could reach 120 million tons in 2012, with the bulk of the growth attributed to thermal coal exports. As global economic growth accelerates, we expect coal markets to rebalance and tighten significantly...U.S. coal consumption for power generation declined 75 million tons through the first half of 2012, and could decline by more than 100 million tons for the full year. However, U.S. coal generator stockpiles most likely peaked in May and could decline meaningfully by the end of the year." So, a bit of a mixed bag.
On watch following results are Arch Coal peers/competitors, including: Alpha Natural Resources, Inc. cANR), Cloud Peak Energy (NYSE: CLD), CONSOL Energy Inc. (NYSE: CNX), Patriot Coal Corporation (OTCBB: PCXCQ), and Peabody Energy Corp (NYSE: BTU).
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Ahead of the bell Friday, Arch Coal (NYSE: ACI) reported better than expected second-quarter results, with a loss of 10 cents per share coming in narrower than views calling for an 18 cents per share loss. The number excludes items that reads like a "honey-do" list: acquired sales contract amortization, exit costs arising from announced mine closures, goodwill impairment charges, one-time financing fees for debt restructuring initiatives and the related tax impacts of these items.
CEO John Eaves commented: "China and India remain on pace through June 2012 to surpass record coal import levels set in 2011. Arch also projects that U.S. coal exports could reach 120 million tons in 2012, with the bulk of the growth attributed to thermal coal exports. As global economic growth accelerates, we expect coal markets to rebalance and tighten significantly...U.S. coal consumption for power generation declined 75 million tons through the first half of 2012, and could decline by more than 100 million tons for the full year. However, U.S. coal generator stockpiles most likely peaked in May and could decline meaningfully by the end of the year." So, a bit of a mixed bag.
On watch following results are Arch Coal peers/competitors, including: Alpha Natural Resources, Inc. cANR), Cloud Peak Energy (NYSE: CLD), CONSOL Energy Inc. (NYSE: CNX), Patriot Coal Corporation (OTCBB: PCXCQ), and Peabody Energy Corp (NYSE: BTU).
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