Start Time: 10:00 January 1, 0000 10:34 AM ET

Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Q4 2023 Earnings Conference Call

February 26, 2024, 10:00 AM ET

Company Participants

Andy Eidson - CEO

Todd Munsey - EVP and CFO

Jason Whitehead - President and COO

Dan Horn - EVP and Chief Commercial Officer

Emily O'Quinn - SVP, IR and Communications

Conference Call Participants

Lucas Pipes - B. Riley Securities

Nathan Martin - Benchmark Company

Operator

Greetings, and welcome to the Alpha Metallurgical Resources Fourth Quarter 2023 Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. Please note this conference is being recorded.

I will now turn the conference over to your host, Emily O'Quinn, Senior Vice President, Investor Relations and Communications. You may begin.

Emily O'Quinn

Thank you, Rob, and good morning, everyone. Before we get started, let me remind you that during our prepared remarks, our comments regarding anticipated business and financial performance contain forward-looking statements, and actual results may differ materially from those discussed.

For more information regarding forward-looking statements and some of the factors that can affect them, please refer to the company's fourth quarter and full year 2023 earnings release and the associated SEC filing. Please also see those documents for information about our use of non-GAAP measures and their reconciliation to GAAP measures.

Participating on the call today are Alpha's Chief Executive Officer, Andy Eidson; and our President and Chief Operating Officer, Jason Whitehead. Also participating on the call are Todd Munsey, our Chief Financial Officer; and Dan Horn, our Chief Commercial Officer.

With that, I will turn the call over to Andy.

Andy Eidson

Thanks, Emily. Good morning, everyone. This morning, we announced our fourth quarter results with adjusted EBITDA of $266 million. For the full year, Alpha generated over $1 billion in adjusted EBITDA which marks the second year in a row, achieving that milestone. While 2023 was not without its challenges, I couldn't be prouder of the way that we responded as a company to those challenges and finished the year strong.

The team did an excellent job of identifying issues, building a battle plan and executing decisively to overcome whatever obstacle we face. We ended the year within or better than nearly all of our guidance ranges, having shipped a total of 17 million tons with $15.3 million of that being met coal. Our overall met segment cost for the year were in line at $111.67, while costs in the all other category came in better than guidance.