Alpha Metallurgical Resources, Inc.

Listed Company

AMRCIK 0001704715NYSELarge AcceleratedBituminous Coal & Lignite Surface MiningDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.13B

Net Income

$-61.69M

Total Assets

$2.28B

Equity

$1.55B

Shares Out

12.79M

Op. Cash Flow

$144.93M

Business

Alpha Metallurgical Resources, Inc. is a coal mining company that extracts, processes and markets metallurgical and some thermal coal from multiple underground and surface operations in the Central Appalachian basin. It predominantly produces metallurgical coal and provides coal preparation, blending, loadout and export terminal services to meet steel and coke producer specifications. The company reports a single met coal operating segment and operates numerous mining complexes, preparation plants, loadouts and a majority interest in an export terminal (DTA). Its coal is sold domestically and shipped internationally to steel, coke and industrial customers via truck, barge and primarily rail to U.S. export ports, with significant shipments to Asian markets.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Coal revenues	2,123	2,947	3,457	4,093	2,253
Other revenues	7	11	15	9	6
Total revenues	2,129	2,957	3,471	4,102	2,259
Cost of coal sales (exclusive of items shown separately below)	1,925	2,452	2,356	2,286	1,678
Depreciation, depletion and amortization	175	167	137	108	110
Accretion on asset retirement obligations	22	25	26	24	27
Amortization of acquired intangibles	5	7	9	19	13
Selling, general and administrative expenses (exclusive of depreciation, depletion and amortization shown separately above)	60	74	82	72	64
Other operating loss (income)	4	5	−1	12	−11
Total costs and expenses	2,191	2,729	2,608	2,521	1,899
(Loss) income from operations	−61	228	863	1,581	359
Interest expense	−3	−4	−7	−22	—
Interest income	15	18	12	3	336,000
Loss on extinguishment of debt	0	0	−3	0	0
Equity loss in affiliates	−25	−20	−18	−14	−4
Miscellaneous expense, net	−14	−11	−2	7	6
Total other expense, net	−26	−17	−18	−26	−67
(Loss) income before income taxes	−87	211	845	1,555	292
Income tax benefit (expense)	26	−23	−124	−106	−3
Net (loss) income	−62	188	722	1,449	289
Basic (loss) income per common share (in dollars per share)	−4.75	14.41	51.18	82.82	15.66
Diluted (loss) income per common share (in dollars per share)	−4.75	14.28	49.3	79.49	15.3
Weighted average shares - basic (in shares)	13	13	14	17	18
Weighted average shares - diluted (in shares)	13	13	15	18	19

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	366	482	268	302	81
Short-term investments	50	0	0	46	0
Trade accounts receivable, net of allowance for credit losses of $2,519 and $2,396 as of December 31, 2025 and 2024, respectively	279	362	510	407	489
Inventories, net	193	169	231	201	129
Prepaid expenses and other current assets	31	24	39	49	36
Total current assets	918	1,037	1,048	1,114	748
Property, plant, and equipment, net of accumulated depreciation and amortization of $774,101 and $667,260 as of December 31, 2025 and 2024, respectively	622	635	589	443	362
Owned and leased mineral rights, net of accumulated depletion and amortization of $150,616 and $124,965 as of December 31, 2025 and 2024, respectively	417	443	451	451	444
Other acquired intangibles, net of accumulated amortization of $43,072 and $41,444 as of December 31, 2025 and 2024, respectively	34	40	47	55	74
Long-term restricted cash	127	123	116	29	89
Long-term restricted investments	34	43	41	106	31
Deferred income taxes	8	7	8	11	0
Other non-current assets	120	112	106	103	109
Total assets	2,281	2,439	2,406	2,312	1,858
Current portion of long-term debt	4	3	4	3	3
Trade accounts payable	66	97	129	106	90
Accrued expenses and other current liabilities	136	152	178	265	—
Total current liabilities	206	251	310	403	296
Long-term debt	10	3	7	8	446
Workers compensation and black lung obligations	191	183	189	188	—
Pension obligations	87	101	102	111	160
Asset retirement obligations	205	190	167	142	132
Deferred income taxes	15	40	39	11	317,000
Other non-current liabilities	21	21	19	20	26
Total liabilities	735	789	832	883	1,311
Commitments and Contingencies (Note 20)	—	—	—	—	—
Preferred stock - par value $0.01, 5,000,000 shares authorized, none issued	0	0	0	0	0
Common stock - par value $0.01, 50,000,000 shares authorized, 22,437,379 issued and 12,805,909 outstanding at December 31, 2025 and 22,383,325 issued and 13,016,390 outstanding at December 31, 2024	224,000	224,000	221,000	217,000	208,000
Additional paid-in capital	852	840	834	815	785
Accumulated other comprehensive loss	−60	−50	−41	−12	−59
Treasury stock, at cost: 9,631,470 shares at December 31, 2025 and 9,366,935 shares at December 31, 2024	−1,341	−1,297	−1,190	−649	−108
Retained earnings	2,095	2,156	1,970	1,275	−72
Total stockholders equity	1,545	1,649	1,574	1,430	547
Total liabilities and stockholders equity	2,281	2,439	2,406	2,312	1,858

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation, depletion and amortization	175	167	137	108	110
Loss (gain) on disposal of assets, net	1	−169,000	−7	43,000	−10
Employee benefit plans, net	23	15	8	−4	−2
Deferred tax (benefit) expense	−24	6	40	−15	−163,000
Stock-based compensation	14	12	19	7	5
Other, net	−1	2	2	−761,000	−6
Trade accounts receivable, net	83	145	−102	83	−336
Inventories, net	−21	64	−28	−63	−21
Prepaid expenses and other current assets	−3	15	8	−12	62
Deposits	183,000	408,000	81	−84	27
Other non-current assets	356,000	1	4	11	−250,000
Trade accounts payable	−29	−19	16	4	25
Accrued expenses and other current liabilities	−11	−6	−9	−7	16
Acquisition-related obligations	0	0	−28	—	—
Workers compensation and black lung obligations	−20	−19	−20	—	—
Pension obligations	−17	−12	−25	—	—
Asset retirement obligations	−15	−28	−19	−19	−16
Other non-current liabilities	−884,000	−3	−528,000	−25	−25
Net cash provided by operating activities	145	580	851	1,484	175
Capital expenditures	−127	−199	−245	−164	−83
Capital contributions to equity affiliates	−38	−33	−31	−20	−7
Proceeds from disposal of assets	265,000	1	8	4	8
Cash paid for business acquired	0	0	−12	−25	0
Purchases of investment securities	−106	−49	−207	−269	−18
Sales and maturities of investment securities	67	48	321	149	13
Other, net	51,000	31,000	35,000	−4	−3
Net cash used in investing activities	−204	−231	−166	−329	−90
Principal repayments of long-term debt	−2	−2	−2	−451	−119
Dividend and dividend equivalents paid	−415,000	−3	−113	−13	0
Common stock repurchases and related expenses	−45	−122	−540	−522	−786,000
Other, net	−5	−1	−1	4	−9
Net cash used in financing activities	−52	−129	−656	−982	−147
Net (decrease) increase in cash and cash equivalents and restricted cash	−111	220	29	173	−62
Cash paid for interest	2	3	5	26	63
Cash paid for income taxes (net of refunds received)	2	8	79	—	—
Financing leases and capital financing - equipment	12	1,000	3	10	787,000
Accrued capital expenditures	14	16	25	18	10
Accrued common stock repurchases and stock repurchase excise tax	327,000	0	8	3	—

Filings

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