Arch Reports Lower Profit In Q2, Misses Estimates

(RTTNews) - Arch Resources, Inc. (ARCH) on Thursday reported decreased profit for the second quarter, attributable to a decline in revenue this year. Earnings also missed the Street estimates.

Net income came in at $77.4 million or $4.04 per share, a sharp decline from $407.6 million or $19.30 per share last year. On an basis, earnings were $130 million.

5 analysts polled by Thomson-Reuters expected the company to report earnings of $6.28 per share for the quarter.

Revenue was reported at $757.2 million in the second quarter compared with $1.13 billion in 2022.

Arch is currently trading up $1.27 or 10.65% at $13.20 in its regular trading session.