NYSE$AMR

Alpha Metallurgical Resources, Inc · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Alpha Metallurgical Resources reported record earnings and strategic leadership transition.

Alpha Metallurgical Resources reported a net income from continuing operations of $575.4 million and a record Adjusted EBITDA of $694.5 million for Q2 2022. The company eliminated its remaining term-loan balance, executed $268 million in share buybacks, and increased its quarterly dividend to 39.2 cents per share. Full-year guidance was adjusted upward for byproduct thermal shipments and SG&A.

  • Reported second quarter net income from continuing operations of $575.4 million.
  • Posted record Adjusted EBITDA of $694.5 million for the second quarter 2022.
  • Eliminated remaining term-loan balance in June, effectively freeing the company of long-term debt.
  • Increased quarterly dividend amount to 39.2 cents per share.

Headline financials

Total Revenue

$1.34B

Previous: $395M+238.1%
EPS (adj)

$30.03

Previous: -$1.01+3073.3%
Met Sales Realization per Ton

$286.95

Previous: $83.38+244.1%
Met Cost per Ton

$111.36

Previous: $69.94+59.2%
Met Tons Sold

4.0M

Previous: 3.7M+9.5%
Free Cash Flow

$574M

Previous: -$19M+3123.3%
Net Income

$574M

Previous: -$19M+3123.3%
Operating Income

$650M

Previous: -$2.19M+29832.3%
Gross Profit

$711M

Previous: $48.5M+1364.6%
Cash & Equivalents

$162M

Previous: $72.3M+123.6%
Total Assets

$2.22B

Previous: $1.66B+33.3%
Stock-Based Comp

$1.4M

Previous: $979K+43.1%

Revenue & EPS history

Alpha Metallurgical · Revenue · Quarterly

$1.34B

Q2 2022+238.1%vs Q2 2021
Beat estimate in 6 of 15 quarters(40%)
ActualEstimate

Revenue by segment

Alpha Metallurgical · $597M total across 3 segments · Q2 2022

  • Export Met Coal
    $417M+231.5%
  • Domestic Met Coal
    $160M+54.1%
  • Thermal Coal
    $20.3M

Forward guidance

Alpha Metallurgical Resources adjusted its full-year guidance upward for byproduct thermal shipments from the Met segment and SG&A.

Tailwinds

  • Metallurgical - Domestic price $189.87
  • Metallurgical - Export price $303.51
  • Thermal 100% Committed/Priced
  • Met Segment 73% Committed/Priced
  • All Other 100% Committed/Priced

Headwinds

  • Met Segment costs per ton $101.00 - $107.00
  • All Other costs per ton $58.00 - $62.00
  • SG&A $55 - $59 million
  • Idle Operations Expense $30 - $40 million
  • Capital Expenditures $160 - $190 million

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q2 2022

Historical avgQ2 2022

-2.0%

Avg return

Earnings day

-0.1%

Avg return

5 days after

+7.4%

Avg return

30 days after

38%

14 / 37 earnings

Positive

+26.4%

Q2 2020

Best reaction

-50.4%

Q3 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-4.8%-7.2%
Q4 2025-2.6%+8.7%+32.9%
Q3 2025-1.7%-4.7%+2.9%
Q1 2025-8.5%-1.5%-10.8%
Q4 2024-7.4%-10.5%-14.9%
Q3 2024+2.4%+16.1%+17.9%
Q2 2024-3.6%-0.7%-17.7%
Q1 2024-8.5%-13.7%-6.7%
Q4 2023+12.5%-1.0%-17.1%
Q3 2023-1.6%-7.3%+31.4%
Q2 2023+7.5%+10.4%+28.1%
Q1 2023+8.7%+3.9%+4.6%
Q4 2022-4.4%+2.4%-9.8%
Q3 2022-4.0%-13.1%-8.7%
Q2 2022+1.7%+17.9%+15.5%
Q1 2022+5.8%-10.5%+4.9%
Q4 2021+8.8%+14.3%+3.1%
Q3 2021-1.1%-12.5%-22.9%
Q2 2021+12.1%+21.0%+53.7%
Q1 2021+13.9%+4.2%+67.4%
Q4 2020-26.2%-18.9%-5.9%
Q3 2020+10.5%
Q2 2020+26.4%
Q1 2020-5.1%
Q4 2019-30.0%
Q3 2019-50.4%
Q2 2019-11.1%
Q1 2019-5.4%
Q4 2018-4.5%
Q4 2016+3.5%
Q1 2017+3.5%
Q2 2017-3.7%
Q4 2017-3.7%
Q3 2017-3.7%
Q3 2018-2.8%
Q2 2018+3.5%
Q1 2018-0.8%
Q2 2016
Q1 2016

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