Arch Coal (ACI) Sees Q3 EBITDA of $70-$74 Million
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Arch Coal, Inc. (NYSE: ACI) today announced that it will issue its third quarter 2014 earnings release before the market opens on Tuesday, Oct. 28, and will post it to the company's website at that time. The company also will discuss its third quarter financial results on a conference call that will be broadcast live over the Internet at 11:00 a.m. Eastern time on Oct. 28, which will be accessible via the "investor" section of the Arch Coal website athttp://investor.archcoal.com. Following the live event, a replay and an audio download will be available on the site for approximately one month.
Separately, in light of the recent unprecedented market conditions, Arch has elected to provide the following selected preliminary results regarding its third quarter 2014 financial performance and liquidity position.
Arch expects to record adjusted earnings before interest, taxes, depreciation, depletion and amortization ("Adjusted EBITDA") of $70 million to $74 million for the third quarter of 2014, representing an improvement versus the second quarter.
As of Sept. 30, 2014, Arch held $1.05 billion in cash and short-term investments compared with approximately $990 million at June 30, 2014, reflecting an increase of nearly $60 million. In addition, Arch's available liquidity, which includes its cash position and undrawn borrowings on its credit facilities, totaled $1.3 billion at the end of September.
U.S.-based Arch Coal, Inc. is one of the world's top coal producers for the global steel and power generation industries, serving customers on five continents. Its network of mining complexes is the most diversified in the United States, spanning every major coal basin in the nation. The company controls more than 5 billion tons of high-quality metallurgical and thermal coal reserves, with access to all major railroads, inland waterways and a growing number of seaborne trade channels. For more information, visit www.archcoal.com.
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