Alpha Metallurgical Resources, Q3 2026 Earnings Call Transcript

Alpha Metallurgical Resources’ third-quarter shipments rose to 3.9 million tons and adjusted EBITDA reached $29.4 million, but higher coal costs continued to pressure results. Management expects cost increases to moderate, with 2027 cost of coal sales guided at $104–$110 per ton. Global steel demand remains weak, while supply disruptions lifted metallurgical coal indices late in the quarter; prices have since moved unevenly, and markets remain exposed to geopolitical and economic uncertainty.

For 2027, Alpha forecasts total shipments of 14.3–15.7 million tons, including 13.1–14.1 million tons of metallurgical coal. The company expects to maintain shipments despite damage to Dominion Terminal Associates’ stacker-reclaimer, which is expected to require replacement over roughly two years; management says alternative terminal access should limit disruption and anticipates no significant capital outlay for replacement. A greater share of future production is planned to come from low- and medium-volatility coal as the Wildcat mine ramps up, with several hundred thousand tons of low-vol coal potentially available for seaborne sales.