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  • American City Business Journals2 months ago

    Bankrupt Arch Coal sees its loss widen

    Bankrupt Arch Coal Inc. reported a first-quarter loss of $206.7 million, wider than its $113.2 million loss in the prior-year quarter. For the quarter ended March 31, the company reported revenue of $428.1 million, down 37 percent due primarily to significant declines in volume and pricing, reflecting continued weakness in all of the markets in which Arch participates. “As a result of extremely challenging current market conditions, the company believes it will require a significant restructuring of its balance sheet in order to continue as a going concern in the long term,” the company said in a statement.

  • Market Realist6 months ago

    Low Natural Gas Prices Haunted Arch Coal Right Up to Bankruptcy

    Weak natural gas prices have been haunting Arch Coal right up to its Chapter 11 bankruptcy filing. The coal industry faces tough competition from natural gas as an alternative fuel in electricity generation....