The significant year-over-year decline in revenue and profitability is a major negative. While the 2026 guidance and share buyback are positive signals, the core business is under severe pressure from weak met coal pricing. Traders should closely monitor the execution of the buyback and the company's ability to achieve its 2026 pricing guidance.
Price Chart
Executive Summary
Alpha Metallurgical Resources reported a net loss of $17.3 million for Q4 2025, a significant deterioration from a $5.5 million loss in Q3 and a $2.1 million loss in Q4 2024. Adjusted EBITDA fell to $28.5 million, down from $41.7 million in Q3 and $53.2 million in Q4 2024. The company cited persistent challenges in the metallurgical coal pricing environment. Despite the weak results, it announced a $1.5 billion share repurchase program and provided 2026 guidance, with 37% of metallurgical coal already priced at an average of $134.02 per ton.
Key Financial Metrics
Key Facts
- Reported a net loss of $17.3 million for Q4 2025, compared to a $5.5 million loss in Q3 2025 and a $2.1 million loss in Q4 2024.
- Adjusted EBITDA was $28.5 million for Q4 2025, down from $41.7 million in Q3 2025 and $53.2 million in Q4 2024.
- Metallurgical coal revenue was $519.1 million, a decrease from $525.2 million in Q3 2025 and $615.4 million in Q4 2024.
- The company has committed and priced 37% of its 2026 metallurgical coal at an average price of $134.02 per ton.
- The board authorized a $1.5 billion share repurchase program; as of February 20, 2026, $1.1 billion had been spent to acquire 6.9 million shares.
Financial Impact
Net loss of $17.3 million, Adjusted EBITDA of $28.5 million
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Met Segment | $519.1M | -15.7% |
Risk Factors
- Continued weakness in the metallurgical coal pricing environment.
- Failure to achieve the projected 2026 average sales price of $134.02 per ton.
- The share buyback, while positive, does not offset the fundamental deterioration in earnings.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001704715-26-000009 |
| Document: amr-20260227.htm | 0001704715-26-000009 |
| Document: 0001704715-26-000009-index-headers.html | 0001704715-26-000009 |
| Document: 0001704715-26-000009-index.html | 0001704715-26-000009 |
| Document: 0001704715-26-000009.txt | 0001704715-26-000009 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 8-K | $158.20 | awaiting T+5 | — | $159.03 (+0.52%) |
Oct 23, 2026 3d ago | Press Release | $158.20 | awaiting T+5 | — | $159.03 (−0.52%) |
Aug 31, 2026 8w ago | Insider Cluster | $233.41 $226.94 | ▼ −2.77% | ▼ −2.85% | $159.03 (−31.87%) |
Aug 25, 2026 8w ago | Insider Cluster | $215.63 $233.41 | ▲ +8.25% | ▲ +8.78% | $159.03 (−26.25%) |
Aug 7, 2026 11w ago | 8-K | $151.95 $166.05 | ▲ +9.28% | ▲ +8.88% | $159.03 (+4.66%) |
Aug 7, 2026 11w ago | 8-K | $151.95 $166.05 | ▼ −9.28% | ▼ −8.88% | $159.03 (−4.66%) |
Jul 27, 2026 13w ago | 8-K | $145.54 $137.16 | ▲ +5.76% | ▲ +6.83% | $159.03 (−9.27%) |
Jun 18, 2026 18w ago | 8-K | $175.09 $165.25 | ▲ +5.62% | ▲ +3.55% | $159.03 (+9.17%) |
Jun 4, 2026 20w ago | Insider Cluster | $202.38 $200.82 | ▼ −0.77% | ▼ −1.34% | $159.03 (−21.42%) |
Jun 1, 2026 21w ago | 144 | $215.37 $202.38 | ▼ −6.03% | ▼ −3.28% | $159.03 (−26.16%) |
US Market Status
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