Alpha lost less than expected
The coal mining company said Q3 EPS was a 16-cent loss vs. a 35-cent gain in '11. Analysts were expecting a 45-cent loss. Revenue fell 20% to $1.6 bil, in line with estimates. "Market conditions for both metallurgical and thermal coal have been challenging throughout much of 2012, and continued in the third quarter," CEO Kevin Crutchfield said. In Sept., Alpha Natural Resources (ANR) announced a plan to cut its yearly production by an additional 16 mil tons as coal prices continue to fall. Alpha Natural Resources shares rose 2.3% to 9.06.
