May 23, 2013

Save Email Print Bookmark and Share
Posted: Fri 6:15 AM, Oct 26, 2012
A A
Reporter: Staff Email

Coal Company Earnings Up

ST. LOUIS (AP) - Arch Coal Inc. says its cost-cutting efforts helped boost third-quarter earnings, which were well above Wall Street expectations. St. Louis-based Arch says net income totaled $45.8 million, or 22 cents per share, in the July-September period. That compares with $8.9 million, or 4 cents per share, a year earlier.

Adjusted income totaled $41.8 million, or 20 cents per share, compared with $7.4 million, or 3 cents per share, a year earlier. Revenue fell 9 percent to $1.09 billion. On average, analysts polled by FactSet expected Arch to report an adjusted loss of 15 cents on revenue of $1.02 billion. Arch's president and CEO, John Eaves, says the company believes the global coal markets are correcting.

Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Next Story >
Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

US Business News

  • Online Gambling Bets on Return
    PokerStars, the largest online poker company in the world, is playing a difficult hand: Just two years after being shut down in the U.S. it wants to return to the table.
  • Boeing 787 Clears China Hurdle
    China's aviation regulator cleared Boeing's 787 aircraft for commercial service and is expected to allow domestic airlines to launch overseas flights within a matter of months.
  • Saab Ex-Chairman Faces Tax Questions
    Saab Automobile's former chairman will be questioned in connection with a criminal investigation concerning tax controls related to the defunct Swedish auto maker, a spokesperson for the Swedish Economic Crime Authority said.
  • GameStop's Profit Falls 25%
    GameStop reported lower quarterly earnings on continued sales weakness, though the videogame retailer's cost-cutting efforts boosted profit margins.
  • Elan Rejects Royalty Pharma Approach
    Elan rejected the most recent approach by New York-based pharmaceutical investor Royalty Pharma, the latest twist in a monthslong struggle for the Dublin-based pharmaceutical firm.
  • China's Rare-Earth Exports Rebound
    China's exports of rare-earth metals rallied in the first four months of this year, a trend that analysts attribute to low rare-earth prices and demand from a buoyant Japanese economy.
  • The Incredible Vanishing Subsidiary
    Some of the biggest U.S. companies, including Google and FedEx, have quietly removed hundreds of offshore subsidiaries from their publicly disclosed financial filings over the past several years.
  • Cablevision Annual Meeting Disrupted
    Cablevision CEO James Dolan called the police on union protesters who disrupted the company's annual meeting Thursday.
  • U.S. Steps Into Sprint's Board
    SoftBank is readying a plan to allow the U.S. government an unusual level of influence over the operations of Sprint, a concession to ease security concerns raised by the proposed cross-border takeover.
  • Rue21 Agrees to $1.1 Billion Buyout
    Rue21 said it has agreed to be acquired by private-equity firm Apax Partners for $1.1 billion, as the teen-apparel retailer also issued a downbeat report on its latest quarter.