Overview

• US metallurgical coal supplier's Q1 revenue fell and missed analyst expectations

• Company posted Q1 net loss of $11 mln, citing lower volumes and higher costs

• Alpha continued previously announced $1.5 bln share buyback, with $1.2 bln spent to date

Outlook

• Alpha maintains 2026 met segment cost of coal sales guidance at $95-$101 per ton

• Company says persistent Iran conflict could require upward revision of cost guidance

• Alpha has committed and priced 48% of 2026 metallurgical coal at $132.37 per ton

Result Drivers

• LOWER VOLUMES - Co said planned outages at Dominion Terminal Associates led to reduced shipping volumes in Q1

• HIGHER COSTS - War-related increases in diesel and other supply prices drove up costs in Q1, per CEO Andy Eidson

Company press release: ID:nPnb2tFBWa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the iron & steel peer group is "buy."

• Wall Street's median 12-month price target for Alpha Metallurgical Resources Inc is $195.00, about 0.8% above its May 7 closing price of $193.43

• The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 15 three months ago

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