**Alpha Metallurgical Resources Reports Fiscal Year Results, Cites Market Softness**
Alpha Metallurgical Resources, Inc., a Tennessee-based mining company, reported its financial results for the fiscal year ended December 31, 2025. The company's coal revenues totaled $2.12 billion, a decrease of 28% compared to $2.95 billion in the prior year. This decline was attributed to a decrease in average coal sales realization and a reduction in coal sales volumes. Other revenues also decreased to $6.88 million from $10.71 million in the previous year.
The company's cost of coal sales decreased by 21.5% to $1.92 billion, compared to $2.45 billion in 2024. This decrease was partially offset by a 4.3% increase in depreciation, depletion, and amortization expenses, which rose to $174.5 million. Selling, general, and administrative expenses decreased by 18.7% to $60.2 million. The company reported a net loss of $61.7 million, compared to a net income of $187.6 million in the prior year.
Operationally, Alpha Metallurgical Resources experienced a reduction in production levels at its Jerry Fork and Black Eagle mines, and temporarily idled its Long Branch surface mine due to continued softness in the metallurgical coal pricing environment. The company also began the development phase for its new Kingston Wildcat underground mine, which is expected to begin production in the first quarter of 2026. As of December 31, 2025, the company's estimated marketable proven and probable coal reserves totaled 294.5 million tons, consisting of 282.8 million tons of metallurgical reserves and 11.7 million tons of thermal reserves.
Looking ahead, Alpha Metallurgical Resources has sales commitments for 15.1 to 16.5 million tons of coal for 2026. The company anticipates capital expenditures between $148 million and $168 million during 2026. The company is also monitoring the impact of the new regulations from the Department of Labor, which could require additional collateral to secure self-insured federal black lung obligations. The company is also involved in litigation regarding the Climate Change Superfund Act in New York, which could have a material adverse effect on its liquidity if upheld.
About Alpha Metallurgical Resources, Inc.
Alpha Metallurgical Resources, Inc. is a Tennessee-based coal mining company specializing in metallurgical coal production for steel and coke manufacturers. Operating multiple underground and surface mines in Central Appalachia, it supplies high-quality met coal globally, supported by coal preparation plants and a majority stake in a Virginia export terminal. The company serves domestic and international industrial customers through long-term contracts, leveraging extensive reserves and integrated logistics for cost-competitive coal delivery.
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