Boston, MA 11\/01\/2013 (wallstreetpr) –\u00a0<\/b>The St. Louis-based Arch Coal Inc (NYSE:ACI), <\/b>among the largest coal producers in the world, is looking at cost control measures as a solution to the prevailing coal market challenges. This approach is expected to help the company retrace its footing after tumbling in the just reported Q3.<\/p>\n
The coal miner on October 29 posted disappointing data of its earnings, sending its shares hurting on the negative side of things. And for the second time this year, the company narrowed its steelmaker coal production. ACI reported a loss of $128.4 million for the Q3. This loss was lower than expected due to the company\u2019s sharp cost control measures which largely cushioned it from weaker coal prices. In per share earnings, ACI lost $0.61 per unit, against $0.22 per share earning a year ago. On the adjusted figures, the company lost $1.8 million, or $0.01 per share for the quarter running July-Sept. In a year ago quarter, the coal company earned profit of $41.8 million, or $0.20 per share.<\/p>\n
The revenue for the just reported quarter fell from $975.2 million a year ago, to $791.3 million in Q3, indicating 19% drop. In the just reported quarter, analysts had expected a loss of $0.31 on revenue of$878.3 million.<\/p>\n
ACI has been on spirited efforts to contract its losses and expand profit horizons. In this regard, the company gave up some of its assets including Bowie and Canyon Fuel and some others which resulted in $423 million in net proceeds. All these restructuring efforts have been brought about by prolonged soft coal market which has denied the company adequate cash flow.<\/p>\n
While the company is looking at rebound as electricity coal market gains life, it also expects that by having jettisoned assets which it considered noncore, it will be able to save it as much as $200 million in admin costs and capital expenditure.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 11\/01\/2013 (wallstreetpr) –\u00a0The St. Louis-based Arch Coal Inc (NYSE:ACI), among the largest coal producers in the world, is looking at cost control measures […]<\/p>\n","protected":false},"author":12,"featured_media":12116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[3477,3476,1608,1605],"stock_ticker":[],"class_list":["post-12115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-aci","tag-arch-coal-inc","tag-arch-coal-inc-nyseaci","tag-nyseaci","entry"],"acf":[],"yoast_head":"\n