Arch Resources Ticking Up On Revenue Surge In Q4

(RTTNews) - Shares of coal mining and processing company, Arch Resources, Inc. (ARCH) gapped up more than 8% on Tuesday after reporting more than 100% revenue growth in the fourth quarter, better than the consensus estimates.

Revenues was $805.7 million in the fourth quarter, compared with $360.6 million in the prior-year quarter. On average, 4 analysts polled by Thomson Reuters expected the company to report revenue of $691.5 million.

The company reported net income of $226.6 million, or $11.92 per share, in the quarter, compared with a net loss of $78.5 million, or $5.17 per diluted share, in the prior-year period. The consensus estimate stood at $12 per share.

Arch's fourth quarter 2021 results included a non-cash charge of $24.2 million, or $1.27 per diluted share related to the sale of its equity ownership in Knight Hawk Holdings, LLC, a thermal coal producer in Illinois.

"With our world-class asset base, top-tier marketing and logistics expertise, and high-performing workforce, Arch is exceptionally well-positioned to capitalize on expanding global steel demand and the buildout of a new, low-carbon economy," said Paul A. Lang, Arch's CEO and president.

ARCH stock is currently at $114.96, up 1.5%. It has traded in the range of $39.02-$125.22 in the past 52 weeks.