Arch Coal Q2 Profit Sequentially Declines

(RTTNews) - Arch Coal Inc. (ARCH) reported second quarter 2017 net income of $37.2 million or $1.48 per share, compared with $51.7 million, or $2.03 per share, in the first quarter of 2017.

Excluding certain charges, adjusted earnings per share was $1.85. The charges for the second quarter include non-cash sales contract amortization, reorganization expenses and early debt extinguishment charges and related tax impact.

Revenues totaled $549.9 million for the three months ended June 30, 2017, representing a sequential decline and reflective of the timing of sales in the metallurgical segment as well as anticipated reduced shipment levels in the Powder River Basin typical of the shoulder season.

Analysts polled by Thomson Reuters expected the company to report earnings of $2.44 per share and revenues of $595.2 million. Analysts' estimates typically exclude special items.