Alpha doubles earnings, sales; remains bullish on met coal
Nov 03, 2011 | 11:07 AM
| Lisa Gordon
Tags
metallurgical coal,
Alpha Natural Resources,
Massey Energy,
Lisa Gordon
PITTSBURGH — Alpha Natural Resources Inc.’s earnings more than doubled in the third quarter despite challenging mining conditions, delayed shipments and a force majeure notice from an unnamed Middle East customer.
The Abingdon, Va.-headquartered metallurgical coal miner posted net income of more than $66.4 million on sales that soared 130 percent to $2.3 billion compared with the third quarter of last year, with its June acquisition of Massey Energy Co. contributing to the improved results.....
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