Alpha Metallurgical Resources, Inc.(AMR) and its subsidiaries have released thei r unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2023. The company recorded a net income of $181.4 million for the second quarter of 2023, and its revenue totaled $858.4 million during the same period.
Net Income for Q2 2023
Alpha Metallurgical Resources, Inc. achieved a net income of $181.4 million for the three months ended June 30, 2023. This figure represents a significant decrease compared to the net income of $574.2 million reported during the same period in the previous year.
Revenue Figures for Q2 2023
The company's total revenues for the second quarter of 2023 amounted to $858.4 million. This includes coal revenues of $853.8 million and other revenues of $4.6 million. In contrast, during the corresponding period in 2022, Alpha Metallurgical Resources reported higher total revenues of $1.34 billion, with coal revenues of $1.33 billion and other revenues of $2.2 million.
Financial Performance in the First Half of 2023
For the six months ended June 30, 2023, Alpha Metallurgical Resources, Inc. recorded a net income of $452.1 million, compared to $975.0 million in the first half of 2022.
The company's total revenues for the first six months of 2023 amounted to $1.77 billion, composed of coal revenues totaling $1.76 billion and other revenues of $9.1 million. In the first half of 2022, the company reported higher total revenues of $2.41 billion, with coal revenues of $2.40 billion and other revenues of $4.4 million.
Overall, the financial performance of Alpha Metallurgical Resources, Inc. in the first half of 2023 shows a decline in both net income and revenue compared to the same period last year. The company is closely monitoring market conditions and implementing strategies to enhance profitability and maintain its competitive position in the industry.