EmailArch Coal (ACI $13.57 -1.01) lowered fiscal year 2011 earnings
guidance to $1.00-1.40, ex-items, versus the $2.00 Capital IQ Consensus
Estimate, down from $1.75 to $2.15, ex-items.
The company announced that it expects its adjusted earnings before interest,
taxes, depreciation, depletion and amortization to be in the $900 million to
$1.0 billion range for full year 2011, representing the highest level in company
history but below the previous range given on July 29, 2011. The company also
expects its 2011 adjusted earnings per diluted share to be in the range of $1.00
to $1.40 per share, subject to the final determination of purchase price
accounting for the acquisition of International Coal Group.
The reduction in earnings guidance resulted largely from lost metallurgical coal
production at the Mountain Laurel complex. During third quarter , Mountain
Laurel encountered unfavorable geologic conditions and its longwall was idled
for nearly 45 days following a roof fall in August. The longwall restarted in
late September, and is currently operating in the final panel of the Alma coal
seam before it transitions to the Cedar Grove seam.
than one year.
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