The following is a summary of the Alpha Metallurgical Resources, Inc. (AMR) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Alpha reported Q1 2024 adjusted EBITDA of $190 million, down from $266 million in Q4 2023.

• They sold 4.4 million tons in the quarter.

• Average first quarter realization decreased to $166.68, compared to $183.76 for Q4 2023.

• Cost of coal sales for Met segment decreased to $115.65 per ton in Q1 2024, down from $119 per ton in Q4 2023.

• SG&A expenses increased to $19.9 million in Q1 2024, up from $16.9 million in Q4 2023.

• Alpha Metallurgical Resources expects an annual cost savings of approximately $35 million translating to about $2 per ton for the full year in met segment coal costs due to cuts in labor incentives.

Business Progress:

• Alpha has adjusted its operations to optimize production and logistics in response to a market decline.

• There's a plan to slow the buyback program to build their cash balances back to the target levels.

• Company experienced some deferrals in Asia, reducing Aussie index-based volumes, however, India's demand remained solid.

• The company is recognized for significant safety and environmental awards demonstrating their commitment to safety and environmental excellence.

• Alpha is always open to M&A opportunities, especially with smaller, undercapitalized companies losing access to capital markets.

• In response to market softness, Alpha's focus would shift more towards maintaining liquidity in their operations.

More details: Alpha Metallurgical IR

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