Arch Coal, Inc. (NYSE: ARCH) reported Q1 EPS of ($0.40), $0.01 better than the analyst estimate of ($0.41). Revenue for the quarter came in at $357.5 million versus the consensus estimate of $320.27 million.

In the first quarter of 2021, Arch significantly advanced its strategic priorities as the company:

• Built on momentum at the world-class Leer South project, which remains on-track to commence longwall operations in the third quarter;
• Maintained its consistent and well-established position as one of the U.S. metallurgical industry's lowest cost producers;
• Continued generating cash from its legacy thermal assets while driving forward with its accelerated reclamation plan; and
• Maintained its intense focus and exemplary performance across environmental, social and governance (ESG) metrics.

"The Arch team maintained its world-class execution in the first quarter of 2021, once again delivering operational excellence in the key areas of cost control, safety and environmental stewardship," said Paul A. Lang, Arch's chief executive officer. "Notably, our performance improved steadily as the quarter progressed, in lockstep with the expanding availability of the COVID-19 vaccine and declining rates of infection at our operations. We expect to continue our positive operational and financial momentum in the second quarter, and to achieve a significant step-change in our overall performance in the third quarter with the startup of the Leer South longwall. Coupled with our intensified focus on long-term reclamation activities at our legacy thermal mines, Arch is extremely well-positioned to complete our strategic transformation into a pure play metallurgical coal producer in an accelerated fashion."

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