Arch Resources falls on cutting annual coking coal sales outlook

Arch Resources

02/10/2023 12:41

** Shares of coal miner Arch Resources  ARCH.N  decline 6.3%
to $160 in premarket trade
    ** Lowers full-year 2023 outlook for coking coal sales
    ** Expects FY23 coking coal sales volumes to be between 8.6
mln tons and 8.9 mln tons, compared with previous outlook of
8.9-9.7 mln tons
    ** Expects its 2023 average metallurgical cash cost to rise
between $88-$91 per ton vs. $79-$89 per ton earlier
    ** Revision due to ongoing challenges mining in the first
longwall district at its Leer South mine in West Virginia - Arch
    ** Says adjusted EBITDA for Q3 to be about 10% lower than
the total reported for Q2, as per preliminary estimates;
scheduled to post Q3 results on Oct.26
    ** ARCH up ~28% YTD

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94
 ;))