Alpha Metallurgical Resources
Mines and exports Central Appalachian metallurgical coal for steelmaking.
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Profile
Mines and processes Central Appalachian metallurgical coal for domestic and international steel and coke producers, with thermal coal sold mainly as a byproduct. Most revenue comes from exports, supported by preparation plants, multimodal transport, and a majority interest in the Dominion Terminal Associates export facility.
Mines, processes, and markets metallurgical coal from underground and surface operations across Virginia and West Virginia through a single Met segment. The core product supplies steel and coke producers in the United States and international markets, while thermal coal produced as a byproduct goes to utilities and industrial customers. Most coal revenue comes from exports.
Blends captive and third-party coal to customer specifications using preparation plants and loadout facilities, then coordinates rail, truck, barge, and terminal capacity. A majority interest in Dominion Terminal Associates adds coal blending, storage, and export access at Newport News. Results depend on global steel demand and metallurgical coal prices, while operations depend on mine safety, environmental permits, reclamation obligations, and reliable transport and port infrastructure.
Company facts
Key statistics
Year to date +11.4% · Average volume (30d) 346.3K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 21, 2026 | Jefferies | Reiterate | Hold | $185 | $160 | |
| Jul 10, 2026 | UBS | Initiate | Neutral | $165 | ||
| Apr 30, 2026 | Atlantic Equities | Target | $194 | |||
| Mar 2, 2026 | Jefferies | Target | $205 | $185 | ||
| Feb 4, 2026 | B. Riley Securities | Downgrade | Buy | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 7, 2026Q2 FY26 | −$0.43 | −$0.96 | −122.7% | $521.6M | $492.9M | −5.5% | −0.11% |
| May 8, 2026Q1 FY26 | −$0.86 | −$0.86 | 0.0% | $535.2M | $525.0M | −1.9% | +1.78% |
| Feb 27, 2026Q4 FY25 | −$1.34 | −$1.34 | 0.0% | $523.8M | $520.5M | −0.6% | +1.56% |
| Nov 6, 2025Q3 FY25 | −$0.35 | −$0.42 | −20.0% | $538.5M | $526.8M | −2.2% | −1.05% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $532.0M | $550.3M | $526.8M | $520.5M | $525.0M | $492.9M | |
| Gross profit | −$17.9M | $18.6M | $19.9M | −$6.8M | $4.6M | $49.2M | |
| Operating income | −$40.2M | $2.7M | −$2.5M | −$21.3M | −$10.4M | −$10.5M | |
| Net income | −$33.9M | −$5.0M | −$5.5M | −$17.3M | −$11.0M | −$12.3M | |
| Diluted EPS | −$2.60 | −$0.38 | −$0.42 | −$1.35 | −$0.86 | −$0.96 | |
| Gross margin | -3.4% | 3.4% | 3.8% | -1.3% | 0.9% | 10.0% | |
| Operating margin | -7.6% | 0.5% | -0.5% | -4.1% | -2.0% | -2.1% |
Fiscal years (4-quarter sums)FY21 $2.26B · FY22 $4.10B · FY23 $3.47B · FY24 $2.96B · FY25 $2.13B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $338.5M · Total debt $11.4M · Total assets $2.26B · Shareholders' equity $1.50B
Dividends
Last raised to $0.50 from $0.44 in Jun 2023.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Nov 30, 2023 | Dec 1 | Dec 15 | $0.50 | |
| Sep 14, 2023 | Sep 15 | Oct 3 | $0.50 | |
| Jun 14, 2023 | Jun 15 | Jul 5 | $0.50 | raised from $0.44 |
| Mar 14, 2023 | Mar 15 | Apr 3 | $0.44 | raised from $0.392 |
| Dec 14, 2022 | Dec 15 | Jan 3 | $5.418 | special dividend |
| Sep 14, 2022 | Sep 15 | Oct 3 | $0.392 | raised from $0.375 |
| Jun 14, 2022 | Jun 15 | Jul 1 | $0.375 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 12.71M · Float 10.24M · 80.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 1.81M | 14.27% | 13F | Aug 7, 2026 |
| Kenneth S. Courtis · director | 1.02M | 8.03% | Form 4 | Aug 25, 2026 |
| State Street Corp | 974.5K | 7.66% | 13F | Aug 7, 2026 |
| Dimensional Fund Advisors LP | 746.9K | 5.87% | 13F | Aug 11, 2026 |
| Michael Gorzynski · director, 10 percent owner, other: See Remarks | 659.7K | 5.19% | Form 4 | Aug 25, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Kenneth S. Courtis | director | +5,000 | $216.53 |
| Aug 21, 2026 | Michael Gorzynski | director, 10 percent owner, other: See Remarks | +10,000 | $208.92 |
| Aug 21, 2026 | Kenneth S. Courtis | director | +15,000 | $210.51 |
| Aug 20, 2026 | Kenneth S. Courtis | director | +15,000 | $193.50 |
| Jun 12, 2026 | Kenneth S. Courtis | director | +10,000 | $200.73 |
Peers
- Warrior Met Coal
Pure-play Alabama hard-coking-coal exporter for steelmakers
- Core Natural Resources
Appalachian coking coal and export-terminal overlap
- Ramaco Resources Class A
CAPP met-coal peer with export and low-vol overlap
- Peabody Energy
Steelmaking coal overlap with larger thermal diversification
- BHP (ADR)
Premium seaborne steelmaking-coal alternative for export buyers
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Alpha Metallurgical Resources | $226.00 | −0.12% | $2.88B | — | 54.3 | 1.4 | −10.4% |
| Warrior Met Coal | $107.07 | +0.06% | $5.65B | 25.7 | 15.6 | 3.4 | +71.3% |
| Core Natural Resources | $100.96 | 0.00% | $5.09B | 50.7 | 23.1 | 1.2 | +3.5% |
| Ramaco Resources Class A | $13.47 | +1.28% | $715.6M | — | — | 1.4 | −5.3% |
| Peabody Energy | $28.98 | +0.20% | $3.52B | — | 14.4 | 0.9 | +12.7% |
| BHP (ADR) | $94.75 | −0.42% | $241.71B | 24.5 | — | 4.2 | +19.9% |
| Median | 25.7 | 15.6 | 1.4 | +12.7% |