Earnings Preview: Massey Energy

| About: Alpha Appalachia (MEE)
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Massey Energy (NYSE:MEE) is expected to report Q3 earnings on Tuesday, October 27 after market close with a conference call scheduled for October 28 at 11 am ET.


Analysts are looking for EPS of 18c on revenue of $676.87M. The consensus range for EPS is very wide at 3c-38c, while the consensus range for revenue is $591.9M-$709.4M, according to First Call. In mid September it was announced that the EPA would withhold 79 coal mining permits pending further review. The permits were issued for coal mining operations that involve the removal of mountain tops and the discarding of debris in nearby streams. The Obama administration, which is trying to prevent mining companies from taking off the tops of mountains in order to obtain coal, had announced in March that it would withhold permits for hundreds of mountaintop coal mining initiatives. The coal industry has had a mixed reaction to the announcement, but Massey's shares have climbed over 9% since the EPA's announcement was made. The company's Q2 results topped analysts' estimates.