ST LOUIS — Arch Coal Inc. (ACI) on Tuesday reported a loss of $113.2 million in its first quarter.
On a per-share basis, the St. Louis-based company said it had a loss of 53 cents. Losses, adjusted for amortization gains, were 54 cents per share.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share.
The coal producer posted revenue of $677 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $728.3 million.
The company's shares closed at $1.06. A year ago, they were trading at $4.97.
Keywords: Arch Coal, Earnings Report