Alliance sold nearly 5.2 million st of coal in Q2, down 49.2% compared with the year-ago quarter.
Of those tons, about 3.4 million st were from the Illinois Basin, down 55.7% year on year, and 1.8 million st from Appalachia, down 30.7% on the year.
In the Illinois Basin, the company's output was sold at an average of $40.05/st, compared with $39.91/st in the year-ago period, while the average price per ton in Appalachia was $55.62/st, down from $59.63/st.
The company's Q2 output totaled 4.3 million st, down 57% year on year.
Additionally, the producer had to furlough more than half its workforce for most of the quarter as production was cut back.
All seven of Alliance's mining operations are now producing, although at different rates given the limited domestic spot market and an uneconomic seaborne market.
Alliance posted a net loss of $46.7 million in Q2, compared with a net profit of $58.1 million in the year-ago quarter.
Its revenues totaled $255 million, down 50.6% year on year. The producer's coal segment posted revenue of $236 million, down 48.8% on the year.
Sources: Platts |
