Its adjusted loss beat analysts' estimates, but revenue missed
The company also reduced the low end of its 2014 outlook for coal shipments because of soft pricing.
Its shares fell in Wednesday premarket trading.
For the three months ended
The latest quarter included a
Income tax expense rose to
Removing the charges and other items, the company lost
Analysts polled by FactSet expected a loss of
Revenue fell 30 percent to
Alpha Natural sold 20.6 million tons of coal in the quarter, down from 25.9 million tons a year earlier. The weighted average coal margin per ton was
Metallurgical coal shipments declined to 4.4 million tons from 4.9 million tons. Shipments of
Alpha Natural's full-year loss narrowed to
Its adjusted loss was
Annual revenue dropped 29 percent to
For 2014, the company now anticipates coal shipments between 77 million and 90 million tons. Its prior forecast was for 79 million to 90 tons.
Alpha Natural said that prices are soft for low-quality metallurgical coals, which are currently selling below thermal-coal prices.
The company's stock fell
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