|
Second Quarter 2021 Financial Results
Second quarter revenues totaled $723.4 million compared to $626.7
million in the prior year primarily due to the impact of higher volumes
and improved seaborne thermal pricing.
Selling, general and administrative expenses decreased 15 percent from
the prior year to $21.4 million as a result of the company's ongoing
cost reduction efforts.
Depreciation, depletion, and amortization (DD&A) declined 13 percent
from the prior year to $77.1 million, primarily due to the impairment at
the North Antelope Rochelle Mine recorded in Q2 2020.
Interest expense of $45.4 million increased $11.1 million over the prior
year due to higher borrowing costs and amortization of debt issuance
costs.
Loss from continuing operations, net of income taxes totaled $23.0
million compared to $1.5 billion in the prior year, or $127.2 million
excluding the $1.4 billion non-cash impairment of the North Antelope
Rochelle Mine. Adjusted EBITDA totaled $122.1 million compared to $23.4
million in the prior year primarily due to higher realized seaborne
thermal pricing, higher U.S. thermal volumes and improved costs across
the platform.
T1:
2021 Guidance Targets
|
Segment Performance |
Total Volume (millions of short tons) |
Priced Volume (millions of short tons) |
Priced Volume Pricing per Short Ton |
Average Cost per Short Ton |
|
PRB – Total |
~85 - 90 |
~86 |
~$11.00 |
~$9.35 |
|
Other U.S. Thermal – Total |
~16 - 17 |
~16.5 |
~$39.50 |
~$30.50 |
|
Seaborne Thermal (Export) |
~9.5 - 10.5 |
~6.6 |
~$70.00 |
|
|
Seaborne Thermal – Total |
~17 - 18 |
|
|
~$33.75 |
|
Seaborne Metallurgical (excluding Shoal Creek) |
~4.5 - 5 |
~2.8 |
~$88.00 |
~$93.00 |
T2: Tons Sold (In Millions)
|
Tons Sold (In Millions) |
Quarter Ended |
Six Months Ended |
|
Jun. 2021 |
Jun. 2020 |
Jun. 2021 |
Jun.2020 |
|
Seaborne Thermal Mining Operations |
4.1 |
4.6 |
8.2 |
9.2 |
|
Seaborne Metallurgical Mining Operations |
1.4 |
1.1 |
2.4 |
3.1 |
|
Powder River Basin Mining Operations |
22.5 |
17.9 |
43.2 |
41.4 |
|
Other U.S. Thermal Mining Operations |
3.9 |
3.8 |
7.8 |
8.7 |
|
Total U.S. Thermal Mining Operations |
26.4 |
21.7 |
51 |
50.1 |
|
Corporate and Other |
0.9 |
0.9 |
1.4 |
1.5 |
|
Total |
32.8 |
28.3 |
63 |
63.9 |
Link: Official
Document |
(To contact the reporter on this story: jemma.shang@steelhome.cn or 86-555-2238875 18155520624) |
