Alpha shaves costs but still draws red ink in first quarter

May 01, 2014 | 04:54 PM | Rey Mashayekhi

Tags  Alpha Natural Resources, Rice Energy, coal, earnings report, Kevin S. Crutchfield, metallurgical coal prices, Rey Mashayekhi

NEW YORK — Alpha Natural Resources Inc. remained in the red in the first quarter despite trimming costs and recording a $250-million pretax gain from the divestment of its Alpha Shale Resources joint venture to Rice Energy Inc.

The Bristol, Va.-based coal producer said its cost-reduction initiatives have been "yielding results" and expressed its belief that metallurgical coal prices "have bottomed and will begin to improve in the latter part of the year."....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results