Contura Energy (CTRA) Reports Q3 Loss of $2.29, Revenues Miss

Contura Energy (NYSE: CTRA) reported Q3 EPS of ($2.29), versus $1.35 reported last year. Revenue for the quarter came in at $525.86 million versus the consensus estimate of $586.3 million.

Highlights include:

• Net Loss from continuing operations of $(44) million for the third quarter 2019 compared with Net Income of $24 million in the second quarter and $14 million in the same period last year(1)
• Adjusted EBITDA(3) of $40 million for the quarter compared with $141 million in the second quarter and $39 million in the same period last year(1)
• Returned $32 million to shareholders in the third quarter through share repurchases
• Updating 2019 guidance and introducing 2020 guidance
• Closed transaction on October 18 with Eagle Specialty Materials related to Powder River Basin

"With global metallurgical coal market conditions deteriorating to a 3-year low and our thermal cost performance coming in weaker than expectations, Contura ended the third quarter with a disappointing Adjusted EBITDA result," said chairman and chief executive officer, David Stetson. "We are keenly focused on cost control and are confident that our 2020 cost performance will be greatly improved over the current year."

For earnings history and earnings-related data on Contura Energy (CTRA) click here.

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