Alpha Metallurgical Resources, Inc. (NYSE:AMR) Q3 2024 Earnings Conference Call November 1, 2024 10:00 AM ET

Company Participants

Emily O'Quinn - Senior Vice President-Investor Relations and Communications
Andy Eidson - Chief Executive Officer
Jason Whitehead - President and Chief Operating Officer
Todd Munsey - Chief Financial Officer
Dan Horn - Chief Commercial Officer

Conference Call Participants

Lucas Pipes - B. Riley Securities
Nathan Martin - The Benchmark Company

Operator

Greetings, and welcome to the Alpha Metallurgical Resources Third Quarter 2024 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 now 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 third quarter 2024 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. Additionally, 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, and good morning everyone. Following our prerelease a couple of weeks ago, we distributed our definitive third quarter results this morning, which include adjusted EBITDA of $49 million and 4.1 million tons shipped in the quarter. Our results for the quarter were negatively impacted by decreased coal processing and soft market conditions as well as some challenging geology and weather related issues that weighed our productivity and consequently our costs.

As we continue our focus on reducing costs during this market downturn, we've made some small but meaningful changes to our production expectations, which are reflected in our guidance assumptions for next year. In general, these actions include reducing some Saturday and evening production shifts and removing sections in certain mine locations to better match production and qualities to demand, while also being mindful of our cost profile as compared to the current coal markets.