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May 7, 2015, 2:29 AM
- Walter Energy (NYSE:WLT): Q1 EPS of -$1.08 beats by $0.41.
- Revenue of $290.92M (-29.7% Y/Y) misses by $35.55M.
Feb. 17, 2015, 9:17 AM
- Walter Energy (NYSE:WLT) -10.1% premarket after reporting a wider than expected Q4 loss and revenues that fell well short of analyst estimates.
- WLT says Q4 sales of metallurgical coal sales declined to 2M metric tons from 2.9M, and forecasts 2015 met coal sales to fall to 8.5M-9M metric tons from 9.7M in 2014.
- Expects 2015 capex to be in line with 2014, while further reducing SG&A expenses by 10%.
- WLT suspended its quarterly dividend last month, following cuts or reductions at rivals Peabody Energy (NYSE:BTU) and Arch Coal (NYSE:ACI).
Feb. 17, 2015, 7:32 AM
- Walter Energy (NYSE:WLT): Q4 EPS of -$1.97 misses by $0.38.
- Revenue of $285.6M (-39.5% Y/Y) misses by $40.95M.
Feb. 16, 2015, 5:30 PM
Feb. 3, 2015, 10:46 AM
- Arch Coal (ACI +8.9%) opens sharply higher after reporting a smaller than expected Q4 loss as it cut costs to $16.46/ton from $18.10/ton in the prior-year quarter.
- ACI says it is suspending its annual dividend to preserve current levels of liquidity, although Cowen analysts say the suspension will save only ~$2M/year.
- ACI says it had available liquidity of ~$1.2B at year-end 2014.
- Expects costs in the Powder River Basin and Appalachian region, which account for most of its coal production, to fall in 2015, reflecting an improved rail performance, the impact of lower diesel prices and a full year of steady production at its low-cost Leer mine in West Virginia.
- ACI also says it expects capital spending of $145M-$160M in 2015, roughly flat vs. 2014's $147M in capex.
- Forecasts FY 2015 coal sales of 130M-143M tons after selling 134.4M tons in 2014 and 35.2M tons in Q4 (+9% Y/Y).
- Other coal names also are higher: ANR +7.8%, BTU +5.6%, CLD +2.3%, WLB +2.6%, WLT +9.4%, CNX +1.7%, RNO +4.3%.
Oct. 30, 2014, 7:32 AM
- Walter Energy (NYSE:WLT): Q3 EPS of -$1.58 beats by $0.05.
- Revenue of $329.5M (-27.7% Y/Y) misses by $4.32M.
- Shares +0.4% PM.
Jul. 31, 2014, 7:32 AM
- Walter Energy (NYSE:WLT): Q2 EPS of -$1.97 misses by $0.25.
- Revenue of $378.35M (-14.3% Y/Y) beats by $1.85M.
Jul. 29, 2014, 10:33 AM
- Arch Coal (ACI +3.5%) moves higher after its Q2 earnings loss came in better than expected as operating costs per ton fell 7%.
- Q2 sales fell 7% Y/Y to $713.8M, missing analyst consensus, but operating costs per ton fell to $20.55 from $21.19.
- ACI lowers its FY 2014 sales volume targets, including cutting its thermal sales volumes forecast to 124M-130M tons from 124M-132M tons to reflect the effects of transportation bottlenecks and the impact of a fall in steel production.
- Other coal names also are higher: ANR +4.3%, ARLP +2.4%, PVA +1.9%, WLB +1.9%, BTU +1.4%, RNO +0.9%, WLT +0.8%, KOL +0.4%.
May 1, 2014, 3:24 PM
- Shares of Alpha Natural Resources (ANR +5.5%) and Walter Energy (WLT -4.2%) are moving in different directions as ANR beats Q1 earnings expectations and WLT falls well short.
- ANR now expects to ship 15M-18M tons of met coal this year, down from an earlier forecast of 16M-20M tons, but Sterne Agee analysts were pleased to see more industry met supply rationalization; management expects met markets to tighten in 2015 as stockpiles for all regions are now below normal.
- Cowen analysts are gloomy about WLT; with Canadian operations shutting down, the outlook comes down to operating performance at Mine No. 4/7 and maintaining liquidity until seaborne met pricing recovers.
May 1, 2014, 7:06 AM
- Walter Energy (WLT): Q1 EPS of -$1.50 misses by $0.28.
- Revenue of $413.9M (-15.8% Y/Y) misses by $33.31M.
Feb. 20, 2014, 2:39 PM
- Walter Energy (WLT -1.2%) shares have been slipping ever since this morning's Q4 earnings conference call, in which the coal company said its cash and cash equivalents equal ~90% of market value.
- WLT acknowledged that the weak market would delay its restructuring efforts, from which it expects generate ~$250M through asset sales; it now expects most of the sales to take place in H2 2014, compared to its earlier target of an April finish.
- Expects Q1 met coal sales to exceed Q4 2013 sales, and FY 2014 sales of 11M-12M tons to modestly 2013's results.
- Brean Capital says WLT remains the most exposed to current weakness in the met coal market, in absence of a price recovery and greater clarity on asset sales and the capital structure.
Feb. 20, 2014, 8:01 AM
- Walter Energy, Inc. (WLT): Q4 EPS of -$0.55 beats by $0.29.
- Revenue of $472M (-1.4% Y/Y) misses by $5.44M.
Feb. 20, 2014, 12:05 AM
Feb. 19, 2014, 5:30 PM| Feb. 19, 2014, 5:30 PM | 3 Comments
Oct. 30, 2013, 3:36 PM
- Walter Energy (WLT +1.6%) shares turned positive after CEO Walt Scheller said in the earnings call that prices for metallurgical coal were showing sustainable improvement and will continue to firm next year due to strong demand in Asia. (Q3 earnings)
- "It appears that the market for [WLT's] product, which is met coal, is seeing some signs of positive life," Sterne Agee analyst Mike Dudas says.
- WLT says its Q3 operating performance illustrates its continued ability to execute in areas within its control; it continues to meaningfully reduce production costs, SG&A and capital spending, and is making progress in strengthening the balance sheet and improving liquidity.
Walter Energy Inc is engaged in the business of mining and exporting of metallurgical coal for the steel industry from underground and surface mines with mineral reserves located in the United States, Canada and United Kingdom.
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