Boston, MA 02/13/2014 (wallstreetpr) – Alpha Natural Resources, Inc. (NYSE:ANR) which is a supplier and exporter of metallurgical coals used in the steel making process posted its results for the fourth quarter of 2013 fiscal year F2013. Earnings per share for the fourth Quarter beat consensus estimate coming in at a loss of 52 cents compared to a loss of 61 cents that analysts had projected. The loss was not impressive considering it was 19 cents more compared to a loss in F2012.
Alpha Natural Resources, Inc. (NYSE:ANR) recorded a GAAP loss of $1.62 for the quarter and increase when compared to a loss of 58 cents a year ago same quarter. Impairments charges, merge related expenses and amortization has been cited as the reason behind the difference in GAAP and operating loss.
Alpha natural resource revenue
The fourth quarter revenues clocked in at $1.09 billion which was slightly lower when compared with Zacks consensus estimates of $1.16 billion and a massive drop when compared to $1.56 recorded a year ago. Full year revenue for 2013 came in at $4.95 billion lower than Zacks estimates of $5.05 billion. Full year revenue was also down when compared to full year revenues of 2012 which came in at $6.97 billion.
The drop in revenue for the fourth quarter was mainly caused by a decline of 26.8% in the freight and handling revenues. Coal revenues also contributed to the drop by dropping by highs 29.2% with other revenues also declining by 30.2%
Alpha natural resources financial update
As of December 31, 2013, cash and cash equivalents for the company were $619.6 million against $730.6 million recorded in December 31, 2012. Alpha Natural Resources, Inc. (NYSE:ANR) also issued senior notes up for expiry in 2020 worth $300 million.
