Alpha Metallurgical Resources Q4 Profit Tops Estimates; Announces $150 Mln Share Repurchase

(RTTNews) - Alpha Metallurgical Resources, Inc. (AMR) reported fourth quarter income from continuing operations of $13.30 compared to a loss of $3.00, a year ago. Analysts polled by Thomson Reuters expected the company to report profit per share of $11.43, for the quarter. Analysts' estimates typically exclude special items. The company reported adjusted EBITDA of $315.8 million for the fourth quarter 2021.

Total revenues increased to $828.22 million from $323.85 million, prior year. Analysts on average had estimated $725.75 million in revenue.

Alpha also announced its board authorized a share repurchase program allowing for the expenditure of up to $150 million for the repurchase of the company's common stock. The share repurchase program is effective immediately and repurchases may begin as soon as March 9th, 2022.

Also, the board has scheduled the annual meeting of stockholders for May 3, 2022.