Alpha Metallurgical Issues 2026 Guidance Expecting Shipments of 15.4 Million Tons
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 12 2025
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Source: Newsfilter
- Sales Expectations: Alpha Metallurgical anticipates 2026 shipments between 14.4 million and 15.4 million tons, along with an additional 0.7 to 1.1 million tons of thermal coal, indicating a cautious optimism about future market conditions.
- Cost Control: The company expects coal sales costs to range from $95 to $101 per ton in 2026, reflecting ongoing efforts in cost management and efficiency improvements to navigate market challenges.
- Capital Expenditure Plans: Alpha plans capital expenditures of $148 million to $168 million in 2026, primarily aimed at completing the Kingston Wildcat low-volatility coal mine, which is expected to enhance the quality of its product mix and market competitiveness.
- Operational Expense Projections: SG&A expenses are projected to be between $53 million and $59 million, while idle operations expenses are expected to range from $24 million to $32 million, highlighting the company's strategic focus on controlling operational costs.
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About AMR
Alpha Metallurgical Resources, Inc. is a mining company with operations across Virginia and West Virginia. The Company supplies metallurgical products to the steel industry. Its portfolio of mining operations consists of over 14 underground mines, six surface mines and eight coal preparation plants. It extracts, processes and markets metallurgical coal from deep and surface mines for sale to steel and coke producers, industrial customers, and electric utilities. It conducts mining operations only in the United States with mines in Central Appalachia. The Company operates in one segment: Met, which consists of six active mining complexes whose primary product is metallurgical coal that is extracted, processed, and marketed to domestic and international steel and coke producers. The Met segment operations consist of metallurgical coal mines, including Deep Mine 41, Road Fork 52, Black Eagle, and Lynn Branch.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Alpha Metallurgical Resources Reports Preliminary Q4 2025 Financial Results
- Financial Performance Overview: Alpha Metallurgical Resources expects a net loss of $17.3 million for Q4 2025, translating to a diluted loss per share of $1.34, reflecting the challenging met coal market environment throughout most of 2025, although low-vol met coal indexes improved in Q4, most benefits are deferred to Q1 2026.
- Adjusted EBITDA Figures: The Adjusted EBITDA for Q4 stands at $28.5 million, despite incurring approximately $6 million in non-recurring mine recovery and idle costs, indicating strong cost control performance, with full-year costs at the lower end of guidance.
- Coal Sales Performance: The company sold 3.8 million tons of met coal in Q4, generating coal revenues of $519.1 million, with non-GAAP coal revenues at $436.3 million, demonstrating resilience in sales amidst price pressures.
- Liquidity and Capital Resources: As of December 31, 2025, the company reported total liquidity of $524.3 million, including $366 million in cash and cash equivalents, showcasing financial robustness that supports future investments and operations.
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Ramaco Resources (METC) Upgraded to Buy by Jefferies with $30 Price Target
- Rating Upgrade: Jefferies upgraded Ramaco Resources from Hold to Buy with a $30 price target, indicating a clear upside risk to consensus met coal price forecasts, which could drive the stock higher.
- Geopolitical Impact: The ongoing escalation of geopolitical risks related to critical minerals is viewed positively for Ramaco's stock, potentially boosting investor confidence and attracting more capital inflows.
- Performance Dependency: Significant upside in Ramaco's shares is contingent upon rising met coal prices and operational performance, alongside the successful development of the Brook Mine rare earth elements project to unlock long-term growth potential.
- Industry Outlook: Jefferies analysts express optimism for coal miners, reiterating Buy ratings on Warrior Met Coal, Core Natural Resources, and Peabody Energy, reflecting confidence in the overall sector and potential investment opportunities.
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