February 27, 2026 - Alpha Metallurgical Resources, Inc. (NYSE: AMR), a leading U.S. supplier of metallurgical products for the steel industry, has reported financial results for the fourth quarter and full year ending December 31, 2025.

"Following the previous disclosure of our initial Q4 performance, today we announce definitive financial results for the fourth quarter and full year 2025," said Andy Eidson, Alpha's chief executive officer. "As previously stated, our fourth quarter numbers reflect the persistent challenges of the met pricing environment that prevailed through much of the 2025 calendar year. Having experienced some quality-specific improvements in the met market, particularly in the Australian low vol indexes, late in Q4 and extending into recent weeks, our first quarter 2026 results will be influenced by those more favorable conditions. From a volume perspective, Alpha's first quarter tons sold tend to be lower than other quarters. Based on our first two months of the year, we expect this to hold true in 2026."

Financial Performance

Alpha reported a net loss of $17.3 million, or $1.34 per diluted share, for the fourth quarter 2025, as compared to net loss of $5.5 million, or $0.42 per diluted share, in the third quarter.

Total Adjusted EBITDA was $28.5 million for the fourth quarter, compared to $41.7 million in the third quarter.

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

Alpha's Met segment cost of coal sales increased to an average of $101.43 per ton in the fourth quarter, compared to $97.27 per ton in the third quarter.

Liquidity and Capital Resources

Cash provided by operating activities in the fourth quarter decreased to $19.0 million as compared to $50.6 million in the third quarter. Capital expenditures for the fourth quarter were $29.0 million compared to $25.1 million for the third quarter.

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 February 20, 2026, the company had acquired approximately 6.9 million shares of common stock at a cost of approximately $1.1 billion, or approximately $165.89 per share. The number of common stock shares outstanding as of February 20, 2026 was 12,792,685, 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.

2026 Operational Performance Update

As of February 17, 2026, at the midpoint of guidance, Alpha has committed and priced approximately 37% of its metallurgical coal for 2026 at an average price of $134.02 per ton and 77% of its thermal coal for the year at an average price of $73.17 per ton.

Annual Meeting of Stockholders

The board of directors has scheduled the annual meeting of stockholders for May 6, 2026.

Conference Call

The company plans to hold a conference call regarding its fourth quarter and full year 2025 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.

To see the full results with financial figures included, click here.