Arch Coal, Inc. (NYSE: ARCH) reported Q1 EPS of ($1.67), $0.55 worse than the analyst estimate of ($1.12). Revenue for the quarter came in at $405.2 million versus the consensus estimate of $406.5 million.

Outlook

"Arch is navigating through the current environment in a precise and careful way – working diligently to protect our people, doing our part to limit the spread of the virus, and executing in every phase of the business over which we have control," Lang said. "With our low-cost assets, fortified balance sheet, solid book of business and skilled workforce, we believe we are well-equipped for even a protracted period of market weakness. At the same time, we plan to be ready to respond to improving market conditions as the global economy stabilizes and rebounds."

Given the current market uncertainty, Arch is suspending volume and cost guidance but providing current sales commitments and general corporate projections. Included in these projections, Arch is now forecasting a reduction in 2020 capital spending of $20 million, the majority of which is related to its thermal operations.

For earnings history and earnings-related data on Arch Coal, Inc. (ARCH) click here.