Contura Confirms Receipt of Anticipated $67 Million AMT Refund
Contura Energy (NYSE: CTRA) announced the receipt of a $66.1 million alternative minimum tax (AMT) credit monetization refund, supplemented by an additional interest payment. This refund boosts Contura's liquidity by $67 million, providing the company with greater flexibility amidst challenging market conditions and ongoing pandemic uncertainties. CFO Andy Eidson expressed satisfaction with the arrival of these funds, which were anticipated as per previous earnings disclosures. Contura Energy remains a key player in the coal supply sector, focusing on metallurgical products for steel manufacturing.
- Receipt of $66.1 million AMT credit monetization refund enhances liquidity.
- Increased total liquidity by $67 million improves financial flexibility.
- None.
BRISTOL, Tenn., Nov. 10, 2020 /PRNewswire/ -- Contura Energy, Inc. (NYSE: CTRA), a leading U.S. supplier of metallurgical products for the steel-making industry, today announced the receipt of its expected
"As we mentioned in our earnings disclosures yesterday, we have been expecting the accelerated AMT refund to arrive, and I am pleased to confirm that these funds were received today," said Andy Eidson, Contura's chief financial officer. "The receipt of this refund is a welcome
ABOUT CONTURA ENERGY
Contura Energy (NYSE: CTRA) is a Tennessee-based coal supplier with affiliate mining operations across major coal basins in Pennsylvania, Virginia and West Virginia. With customers across the globe, high-quality reserves and significant port capacity, Contura Energy reliably supplies metallurgical coal to produce steel. For more information, visit www.conturaenergy.com.
FORWARD-LOOKING STATEMENTS
This news release includes forward-looking statements. These forward-looking statements are based on Contura's expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Contura's control. Forward-looking statements in this news release or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Contura to predict these events or how they may affect Contura. Except as required by law, Contura has no duty to, and does not intend to, update or revise the forward-looking statements in this news release or elsewhere after the date this release is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this news release may not occur.
INVESTOR CONTACT
investorrelations@conturaenergy.com
Alex Rotonen, CFA
423.956.6882
MEDIA CONTACT
corporatecommunications@conturaenergy.com
Emily O'Quinn
423.573.0369
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SOURCE Contura Energy, Inc.
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