January 30, 2026 - Alpha Metallurgical Resources, Inc. (NYSE: AMR), a leading U.S. supplier of metallurgical products for the steel industry, has announced preliminary, unaudited financial results for the fourth quarter ending December 31, 2025. The company plans to release its definitive fourth quarter and full year 2025 financial results on February 27, 2026.

"Our preliminary results for the fourth quarter reflect the challenging met coal market environment that persisted through the majority of 2025," said Andy Eidson, Alpha's chief executive officer. "Our fourth quarter Adjusted EBITDA excludes approximately $6 million in non-recurring mine recovery and idle costs due to the water inundation at Rolling Thunder in November. While the low-vol met coal indexes improved in the fourth quarter, the majority of that improvement did not occur until December. In addition, U.S. East Coast high-vol indexes were down slightly relative to third quarter levels. Due to the late quarter timing of the pricing improvements, most of the related benefit was pushed into Q1 of 2026. However, our fourth quarter cost performance was strong, resulting in full year costs at the lower end of our guidance range."

Eidson continued: "We look forward to providing more information about our 2025 performance when we announce our audited financial results at the end of February. Until then, we remain focused on safely operating each and every day and seeking out opportunities to capitalize on the improved met coal pricing environment."

Preliminary Financial Performance

Alpha expects to report a net loss of $17.3 million, or $1.34 per diluted share, for the fourth quarter 2025.

For the fourth quarter, total Adjusted EBITDA was $28.5 million.

Fourth quarter net realized pricing for the Met segment was $115.31 per ton.

Liquidity and Capital Resources

As of December 31, 2025, the company had total liquidity of $524.3 million, including cash and cash equivalents of $366.0 million, short-term investments of $49.6 million, and $183.7 million of unused availability under the asset-based revolving credit facility (ABL), partially offset by a minimum required liquidity of $75.0 million as required by the ABL. As of December 31, 2025, the company had no borrowings and $41.3 million in letters of credit outstanding under the ABL. Total long-term debt, including the current portion of long-term debt as of December 31, 2025, was $13.4 million.

Share Repurchase Program

As previously announced, Alpha's board of directors authorized a share repurchase program allowing for the expenditure of up to $1.5 billion for the repurchase of the company's common stock. As of December 31, 2025, the company had acquired approximately 6.9 million shares of common stock at a cost of approximately $1.1 billion since the start of the program. During the fourth quarter of 2025, the company spent approximately $20 million for the repurchase of roughly 113,000 shares. The number of common stock shares outstanding as of December 31, 2025 was 12,805,909, not including the potential effect of unvested equity awards.

The timing and amount of share repurchases will be based on various factors, including but not limited to market conditions, the trading price of the stock, applicable legal requirements, compliance with the provisions of the company's debt agreements, and other factors.

Note About Preliminary Results

The financial results presented in this release are preliminary and may change. This preliminary financial information includes calculations or figures that have been prepared internally by management. The Company's independent registered public accounting firm has not finished its audit of, and does not express an opinion with respect to, this data. There can be no assurance that the Company's actual results for the periods presented herein will not differ from the preliminary financial results presented herein, and such changes could be material. These preliminary financial results should not be viewed as a substitute for full financial statements prepared in accordance with GAAP and are not necessarily indicative of the results to be achieved for any future periods. This preliminary financial information could be impacted by the effects of the Company's financial closing procedures, final adjustments, and other developments, including the ongoing audit of the Company's consolidated financial statements.

Earnings Announcement and Conference Call

The company plans to announce its definitive fourth quarter 2025 financial results before the market opens on Friday, February 27, 2026. The company also plans to hold a conference call regarding its fourth quarter results on February 27, 2026, at 10:00 a.m. Eastern time. The conference call will be available live on the investor section of the company's website at https://alphametresources.com/investors. Analysts who would like to participate in the conference call should dial 877-407-0832 (domestic toll-free) or 201-689-8433 (international) approximately 15 minutes prior to start time.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources (NYSE: AMR) is a Tennessee-based mining company with operations across Virginia and West Virginia. With customers across the globe, high-quality reserves and significant port capacity, Alpha reliably supplies metallurgical products to the steel industry. For more information, visit www.AlphaMetResources.com. 

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