Alpha Metallurgical Resources reported a third-quarter 2026 net loss of $9.3 million, or $0.73 per diluted share, compared with a loss of $12.3 million in the second quarter and $5.5 million a year earlier. Adjusted EBITDA improved sequentially to $29.4 million from $25.6 million but remained below $41.7 million in the prior-year quarter.
The metallurgical coal producer sold 3.9 million tons, up from 3.5 million in the second quarter and level with the prior-year period. Metallurgical segment revenue was $560.6 million, compared with $491.5 million sequentially, while revenue excluding freight and handling was $474.1 million. Net realized pricing was $121.09 per ton, up from $118.71 in the second quarter.
Operating cash flow totaled $46.9 million, compared with $39.9 million in the second quarter and $50.6 million a year earlier. Capital expenditures were $33.8 million, down from $45.1 million sequentially but above $25.1 million in the prior-year period. Cost pressures continued to weigh on profitability despite more normalized shipment volumes.
Alpha also announced commitments to ship 3.5 million tons to domestic customers in 2027, providing a base for next year’s sales program. Its operational guidance accounts for damage to stacker-reclaimer equipment at Dominion Terminal Associates and the expected effect on terminal capacity. The company plans to use capacity at other Hampton Roads terminals to limit disruption while replacement work proceeds.
The improved sequential loss, higher volumes, and stronger operating cash flow were constructive developments, but the year-over-year decline in adjusted EBITDA showed the effect of costs and market conditions. Execution on logistics alternatives, cost management, and additional seaborne commitments will be important to 2027 performance.
KEY QUOTE:
“Our third quarter volumes improved as compared to the first two quarters of the year, but cost pressures continue to influence our financial results.”
Andy Eidson, Chief Executive Officer of Alpha Metallurgical Resources
