Arch Coal ends first quarter with $1.1 billion of liquidity

By Lisa Kerner

Charlotte, N.C., April 21 – Arch Coal, Inc. ended its fiscal first quarter 2015 on March 31 with total liquidity of $1.1 billion, including cash of $940 million, according to senior vice president and chief financial officer John Drexler.

Drexler made his comments during the company’s earnings conference call on Tuesday.

The St. Louis-based coal producer has no immediate debt maturities until mid-2018.

Arch had a first-quarter net loss of $113 million, or $0.53 per diluted share. This compares to a net loss of $124 million, or $0.59 per diluted share, in the prior-year period.

Revenues for the quarter were $677 million, according to the earnings news release.

“We continue to take proactive steps to reinforce our operational and financial flexibility,” said president and chief executive officer John W. Eaves.

Given recent market trends, Arch believes industry-wide coal exports from the United States will decline below 90 million tons in 2015 compared with 2014 export levels of nearly 100 million tons, according to the earnings news release.

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