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ARCH Arch Resources

Arch Resources, Inc. engages in the production and distribution of thermal coal. It operates through the following segments: Powder River Basin, Metallurgical and Other Thermal. The Powder River Basin segment contains thermal operations in Wyoming. The Metallurgical segment contains metallurgical operations in West Virginia. The Other Thermal segment contains supplementary thermal operations in Colorado, Illinois and the Coal Mac thermal operations in West Virginia. The company was founded in 1969 and is headquartered in St. Louis, MO.

Company profile

ARCH stock data

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Calendar

12 Feb 21
17 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 193.45M 193.45M 193.45M 193.45M 193.45M 193.45M
Cash burn (monthly) (positive/no burn) (positive/no burn) 26.11M 28.72M (positive/no burn) (positive/no burn)
Cash used (since last report) n/a n/a 93.12M 102.42M n/a n/a
Cash remaining n/a n/a 100.33M 91.02M n/a n/a
Runway (months of cash) n/a n/a 3.8 3.2 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Mar 21 Paul T. Demzik Common Stock Sell Dispose S No Yes 48.98 449 21.99K 1,894
1 Mar 21 Rosemary L Klein Common Stock Sell Dispose S No Yes 48.98 145 7.1K 2,427
1 Mar 21 Matthew C. Giljum Common Stock Sell Dispose S No Yes 48.98 435 21.31K 4,708
27 Feb 21 Paul T. Demzik Common Stock Payment of exercise Dispose F No No 47.92 1,107 53.05K 2,343
27 Feb 21 Paul T. Demzik Common Stock Option exercise Aquire M No No 0 3,450 0 3,450
27 Feb 21 Paul T. Demzik RSU Class A Common Stock Option exercise Dispose M No No 0 3,450 0 6,900
27 Feb 21 Rosemary L Klein Common Stock Payment of exercise Dispose F No No 47.92 172 8.24K 2,572
27 Feb 21 Rosemary L Klein Common Stock Option exercise Aquire M No No 0 550 0 2,744
27 Feb 21 Rosemary L Klein RSU Class A Common Stock Option exercise Dispose M No No 0 550 0 1,100
27 Feb 21 Matthew C. Giljum Common Stock Payment of exercise Dispose F No No 47.92 1,021 48.93K 5,143

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

22.3% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 3 122 -97.5%
Opened positions 0 28 EXIT
Closed positions 119 27 +340.7%
Increased positions 2 31 -93.5%
Reduced positions 1 44 -97.7%
13F shares
Current Prev Q Change
Total value 149.26M 708.47M -78.9%
Total shares 3.41M 16.66M -79.5%
Total puts 0 410.4K EXIT
Total calls 0 168.8K EXIT
Total put/call ratio 2.4
Largest owners
Shares Value Change
Adage Capital Partners GP, L.L.C. 1.42M $61.98M +4.0%
MS Morgan Stanley 1.22M $53.21M +48.3%
Dimensional Fund Advisors 778.27K $34.07M -11.4%
Largest transactions
Shares Bought/sold Change
Vanguard 0 -1.4M EXIT
BLK Blackrock 0 -1.08M EXIT
STT State Street 0 -961K EXIT
Maple Rock Capital Partners 0 -748K EXIT
Luminus Management 0 -725.47K EXIT
CS Credit Suisse 0 -554.5K EXIT
LSV Asset Management 0 -526.49K EXIT
MS Morgan Stanley 1.22M +395.85K +48.3%
Victory Capital Management 0 -381.86K EXIT
Skylands Capital 0 -369.3K EXIT

Financial report summary

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Risks
  • Coal prices are subject to change based on a number of factors and can be volatile. If there is a decline in prices, it could materially and adversely affect our profitability and the value of our coal reserves.
  • Unfavorable economic and market conditions have adversely affected and may continue to affect our revenues and profitability.
  • The effects of foreign and domestic trade policies, actions or disputes on the level of trade among the countries and regions in which we operate could negatively impact our business, financial condition or results of operations.
  • Competition could put downward pressure on coal prices and, as a result, materially and adversely affect our revenues and profitability.
  • Our coal mining operations are subject to operating risks that are beyond our control, which could result in materially increased operating expenses and decreased production levels and could materially and adversely affect our profitability.
  • Our inability to acquire additional coal reserves or our inability to develop coal reserves in an economically feasible manner may adversely affect our business.
  • To maintain and grow our business, we will be required to make substantial capital expenditures which we may be unable to fund.
  • Inaccuracies in our estimates of our coal reserves could result in decreased profitability from lower than expected revenues or higher than expected costs.
  • The coal industry has experienced increased credit pressures that could result in additional decisions by banks, surety bond providers, or other counterparties to reduce or eliminate their exposure to the coal industry, which could have a material adverse effect on our business and results of operations.
  • Increases in the costs of mining and other industrial supplies, including steel-based supplies, diesel fuel and rubber tires, or the inability to obtain a sufficient quantity of those supplies, could negatively affect our operating costs or disrupt or delay our production.
  • Disruptions in the quantities of coal purchased from other third parties could temporarily impair our ability to fill customer orders or increase our operating costs.
  • Our profitability depends upon the coal supply agreements we have with our customers. Changes in purchasing patterns in the coal industry could make it difficult for us to extend our existing coal supply agreements or to enter into new agreements in the future.
  • Our ability to collect payments from our customers could be impaired if their creditworthiness deteriorates, and our financial position could be materially and adversely affected by the bankruptcy of any of our significant customers.
  • A defect in title or the loss of a leasehold interest in certain properties or surface rights could limit our ability to mine our coal reserves or result in significant unanticipated costs.
  • The availability, reliability and cost-effectiveness of transportation facilities and fluctuations in transportation costs could affect the demand for our coal or impair our ability to supply coal to our customers.
  • The loss of, or a significant reduction in, purchases by our largest customers could adversely affect our profitability.
  • We may incur losses as a result of certain marketing, trading and asset optimization strategies.
  • If we sustain cyber-attacks or other security breaches that disrupt our operations, or that result in the unauthorized release of proprietary or confidential information, we could be exposed to significant liability, reputational harm, loss of revenue, increased costs or other risks.
  • We may be unable to comply with the restrictions imposed by our Term Loan Debt Facility and other financing arrangements.
  • We may be unable to raise the funds necessary to repurchase our Convertible Notes for cash following a fundamental change, or to pay any cash amounts due upon conversion, and our other indebtedness limits our ability to repurchase the notes or pay cash upon their conversion.
  • Extensive environmental regulations, including existing and potential future regulatory requirements relating to air emissions, affect our customers and could reduce the demand for coal as a fuel source and cause coal prices and sales of our coal to materially decline.
  • The demand for our products and market for our securities, as well as our ability to access the capital markets and obtain financing and insurance upon favorable terms may be significantly impacted by increased pressure from political and regulatory authorities, along with environmental activist groups, and lending and investment policies adopted by financial institutions and insurance companies to address concerns about the environmental impacts of coal combustion, including perceived impacts on the global climate. These activities and developments may potentially materially and adversely impact our future financial results, liquidity and growth prospects.
  • Our failure to obtain and renew permits necessary for our mining operations could negatively affect our business.
  • Federal or state regulatory agencies have the authority to order certain of our mines to be temporarily or permanently closed under certain circumstances, which could materially and adversely affect our ability to meet our customers’ demands.
  • Extensive environmental regulations impose significant costs on our mining operations, and future regulations could materially increase those costs or limit our ability to produce and sell coal.
  • If the assumptions underlying our estimates of reclamation and mine closure obligations are inaccurate, our costs could be greater than anticipated.
  • Our operations may impact the environment or cause exposure to hazardous substances, and our properties may have environmental contamination, which could result in material liabilities to us.
  • Changes in the legal and regulatory environment could complicate or limit our business activities, increase our operating costs or result in litigation.
  • Our ability to use net operating losses and alternative minimum tax credits is subject to current limitation, and our ability to use net operating losses may be subject to additional limitations.
  • U.S. tax legislation may materially adversely affect our financial condition, results of operations and cash flows.
  • International growth in our operations adds new and unique risks to our business.
  • Our ability to operate our business effectively could be impaired if we lose key personnel or fail to attract qualified personnel.
Management Discussion
  • Revenues. Our revenues include sales to customers of coal produced at our operations and coal purchased from third parties. Transportation costs are included in cost of coal sales and amounts billed by us to our customers for transportation are included in revenues.
  • On a consolidated basis, coal sales in 2020 decreased $826.8 million or 36.0% from 2019, and tons sold decreased 27.0 million tons or 29.9%. Coal sales from Metallurgical operations decreased $349.0 million due primarily to lower realized pricing and secondarily decreased volume. Powder River Basin coal sales decreased $253.6 million due to lower volume, and Other Thermal coal sales decreased $237.7 million due to lower volume and pricing. In the year ended December 31, 2019, our Coal-Mac operation in our Other Thermal Segment, which was sold in December 2019, provided approximately $111.8 million in coal sales and 2.1 million tons sold in our Other Thermal Segment. See discussion in “Operational Performance” for further information about segment results.
  • Cost of sales. Our cost of sales for the year ended December 31, 2020 decreased $494.5 million or 26.4% versus 2019. In the prior year period, our Coal-Mac operation, which was sold in December 2019, accounted for approximately $111.3 million in cost of sales. The decline in cost of sales at ongoing operations consists primarily of reduced repairs and supplies costs of approximately $188.5 million, including approximately $39.5 million in reduced diesel fuel costs, reduced transportation costs of approximately $99.9 million, reduced operating taxes and royalties of approximately $78.8 million, and reduced compensation costs of approximately $25.8 million. These cost decreases were partially offset by increased purchased coal cost of approximately $10.7 million. See discussion in “Operational Performance” for further information about segment results.
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