Arch Coal, Inc. Reports Third Quarter 2015 Results
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November 10, 2015 8:36 AM EST
Sterne Agee CRT downgraded Arch Coal Inc (NYSE: ACI) from Buy to Neutral.
For an analyst ratings summary and ratings history on Arch Coal Inc click here. For more ratings news on Arch Coal Inc click here.
Shares of Arch Coal Inc closed at $1.56 yesterday.
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November 9, 2015 6:47 AM EST
Arch Coal (NYSE: ACI) reported Q3 EPS of ($3.38), $2.07 better than the analyst estimate of ($5.45). Revenue for the quarter came in at $688.5 million versus the consensus estimate of $678.63 million.
For the first nine months of 2015, Arch generated adjusted EBITDA of $262 million compared with $164 million in the prior-year period. Total revenues declined to $2.0 billion for the nine months ended September 30, 2015, largely due to lower metallurgical coal prices and output.
"From an operational perspective, Arch delivered an exceptionally strong performance during the quarter," said John W. Eaves, Arch's chairman and... More
