With both volume and pricing under pressure and storm-related DTA damage unresolved through year-end, AMR faces a structurally weaker H2 2026. The earnings miss was marginal vs consensus on EPS (-$0.96 vs -$0.97) but the underlying operational and guidance deterioration is significant. Traders should watch the Aug 7 conference call for DTA remediation timeline and any further cost escalation.
Price Chart
Executive Summary
Alpha Metallurgical Resources reported Q2 2026 results and reaffirmed lowered guidance released in its July 27 preliminary earnings warning. Net loss deepened to $12.3M from $5.0M a year ago, with revenue falling 10.4% to $492.9M. The company cut its 2026 met coal shipment guidance by ~1.1M tons and raised cost guidance to $103-$107/ton, citing persistent met coal market weakness and equipment damage at the DTA terminal. The buyback continued at a reduced pace ($13.5M in Q2 vs $36.7M in H1).
Key Financial Metrics
Key Facts
- Q2 2026 total revenue of $492.9M, down from $550.3M in Q2 2025 (down 10.4% YoY)
- Net loss of $12.3M vs loss of $5.0M in Q2 2025; EPS loss of $0.96 vs loss of $0.38
- Adjusted EBITDA of $25.6M, down 44% from $46.1M in Q2 2025
- Tons sold fell 8.7% YoY to 3.5M; met coal realization $118.71/ton vs $119.43 a year ago
- 2026 met coal sales volume guidance reduced from 14.4M-15.4M to 13.2M-14.0M tons
- 2026 cost of coal sales guidance raised from $95-$101 to $103-$107/ton
- DTA terminal storm damage causing reduced efficiency; utilizing alternate East Coast terminals
- Share repurchases slowed: $13.5M in Q2 vs $36.7M H1 cumulative
- Total liquidity $447.8M including cash $307.6M; no borrowings on ABL facility
- This filing confirms the preliminary warning from July 27, which had already set expectations for the negative revisions
Financial Impact
Revenue decline of 10.4% YoY, Adjusted EBITDA halved, guidance for lower volume and higher costs for 2026
Risk Factors
- Further met coal price weakness in export markets could pressure realizations
- DTA terminal repair delays could reduce access to tidewater capacity
- Operating cost inflation may persist, squeezing margins further
- Shareholder returns via buyback may slow if cash flow deteriorates
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001704715-26-000030 |
| Document: amr-20260807.htm | 0001704715-26-000030 |
| Document: 0001704715-26-000030-index-headers.html | 0001704715-26-000030 |
| Document: 0001704715-26-000030-index.html | 0001704715-26-000030 |
| Document: 0001704715-26-000030.txt | 0001704715-26-000030 |
| 8-K Data (Synthetic) | 0001704715-26-000030 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | 8-K | $163.60 | awaiting T+5 | — | $167.53 (+2.40%) |
Oct 23, 2026 4d ago | Press Release | $163.60 | awaiting T+5 | — | $167.53 (−2.40%) |
Aug 31, 2026 8w ago | Insider Cluster | $233.41 $226.94 | ▼ −2.77% | ▼ −2.85% | $167.53 (−28.23%) |
Aug 25, 2026 8w ago | Insider Cluster | $215.63 $233.41 | ▲ +8.25% | ▲ +8.78% | $167.53 (−22.31%) |
Aug 7, 2026 11w ago | 8-K | $151.95 $166.05 | ▲ +9.28% | ▲ +8.88% | $167.53 (+10.25%) |
Aug 7, 2026 11w ago | 8-K | $151.95 $166.05 | ▼ −9.28% | ▼ −8.88% | $167.53 (−10.25%) |
Jul 27, 2026 13w ago | 8-K | $145.54 $137.16 | ▲ +5.76% | ▲ +6.83% | $167.53 (−15.11%) |
Jun 18, 2026 18w ago | 8-K | $175.09 $165.25 | ▲ +5.62% | ▲ +3.55% | $167.53 (+4.32%) |
Jun 4, 2026 20w ago | Insider Cluster | $202.38 $200.82 | ▼ −0.77% | ▼ −1.34% | $167.53 (−17.22%) |
Jun 1, 2026 21w ago | 144 | $215.37 $202.38 | ▼ −6.03% | ▼ −3.28% | $167.53 (−22.21%) |
US Market Status
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