Arch Resources, Inc. - ARCH STOCK NEWS

Arch Resources (NYSE: ARCH) and CONSOL Energy (NYSE: CEIX) have announced the expiration of the Hart-Scott-Rodino Act waiting period for their pending merger. This expiration, which occurred at 11:59 p.m. Eastern Time on October 11, 2024, marks a significant milestone in the merger process. The HSR Act waiting period expiration was a key condition for closing the combination. However, the transaction's completion still depends on meeting other customary closing conditions, including approval from both companies' stockholders. This development brings Arch and CONSOL one step closer to finalizing their merger, potentially creating a stronger entity in the energy sector.

Arch Resources (NYSE: ARCH) and CONSOL Energy (NYSE: CEIX) have announced a merger of equals to create Core Natural Resources, a premier North American natural resource company. The all-stock transaction will combine two leading coal producers, creating a diversified portfolio with ~12 Mtpa of metallurgical coal and over 25 Mtpa of high calorific value thermal coal. The merged entity will have ~25 Mtpa of export capacity and is expected to generate $110-140 million in annual synergies. With a pro forma market cap of $5.2 billion, Core Natural Resources aims to leverage complementary assets, enhance global market reach, and deliver strong shareholder returns. The merger is expected to close by Q1 2025, subject to regulatory and shareholder approvals.

Arch Resources (NYSE: ARCH) reported Q2 2024 net income of $14.8 million, or $0.81 per diluted share, down from $77.4 million in Q2 2023. Adjusted EBITDA was $60.0 million, compared to $130.4 million last year. Despite logistical challenges from the Baltimore bridge collapse, Arch shipped 2.0 million tons of coking coal and achieved record production in its metallurgical segment. The company repurchased 94,367 shares for $15.0 million and declared a $0.25 per share dividend. Arch maintains its 2024 guidance of 8.6-9.0 million tons of coking coal sales and expects improved performance in H2 2024. The company ended Q2 with $279.3 million in cash and a net cash position of $146.0 million.

Arch Resources (NYSE: ARCH) is set to announce its second quarter 2024 financial results on July 25, 2024. An investor conference call will take place at 10:00 a.m. Eastern time to discuss the results. Participants can dial 877-870-4263 (U.S.) or +1 412-317-0790 (international) to join the call. No passcode is required. The call will also be webcast on the Arch Resources investor site, with a replay available afterward.

The earnings release will be distributed via PR Newswire before the market opens on July 25 and posted on Arch's website. Arch Resources is a leading producer of high-quality metallurgical products for the global steel industry, known for its efficient, safe, and environmentally responsible mining operations.

Arch Resources reported net income of $56.0 million and adjusted EBITDA of $102.9 million for the first quarter of 2024. The company declared a quarterly cash dividend of $20.7 million, or $1.11 per share, and reduced its diluted share count by 3 percent. Despite a decrease in revenues compared to the prior year, Arch maintained a strong cash position, repurchased shares, and received safety and environmental awards. The company continues to focus on capital return programs and operational improvements to drive value for stockholders.

Arch Resources, Inc. (NYSE: ARCH) will discuss its first quarter 2024 financial results in an investor conference call on April 25, 2024. The company's earnings release will be distributed via PR Newswire before the market opens on the same day. Arch Resources is a leading producer of high-quality metallurgical products for the global steel industry, known for its modern and efficient mines focusing on safety and environmental stewardship.

Arch Resources, Inc. appoints George J. Schuller Jr. as senior vice president and chief operating officer, praising his extensive experience in the mining industry. Schuller aims to enhance operational performance and sustainability initiatives at Arch.

Arch Resources, Inc. (ARCH) announced a reduction of nearly 2% in outstanding shares through the retirement of 315,721 shares. This brings the total net reduction to 6.4 million shares, representing 26% of shares outstanding since May 2017. The company's diluted share count decreased from 18.9 million to 18.6 million shares. The CFO highlighted the significant reduction in share count and emphasized the ongoing focus on share repurchases to drive value. The transactions will not impact the financial position or first-quarter results, with Arch maintaining a strong cash position of $320.5 million.

Arch Resources, Inc. announces Richard A. Navarre as the new board chair at the 2024 annual meeting in May, succeeding John W. Eaves. James N. Chapman also retires, and John Drexler is elected as president and board member.