|
First Quarter 2021 Financial Results
First quarter revenues totaled $651.3 million compared to $846.2 million
in the prior year primarily due to the impact of lower volumes, pricing
and sales mix.
Selling, general and administrative expenses decreased 13 percent from
the prior year to $21.7 million from the company's ongoing cost
reduction program.
Depreciation, depletion, and amortization (DD&A) declined 36 percent
from the prior year to $68.3 million, primarily due to the impairment at
the North Antelope Rochelle Mine recorded in Q2 2020 as well as lower
volumes.
Interest expense increased $19.3 million over the prior year due to
$10.6 million of one-time fees expensed as part of the refinancing
transactions, higher borrowing costs and amortization of the related
debt issuance costs.
Loss from continuing operations, net of income taxes totaled $77.7
million compared to $129.3 million in the prior year. Adjusted EBITDA
totaled $61.1 million compared to $36.8 million in the prior year.
|
Tons Sold (In Millions) |
Quarter Ended |
|
Mar-21 |
Mar-20 |
|
Seaborne Thermal Mining Operations |
4.1 |
4.6 |
|
Seaborne Metallurgical Mining Operations |
1 |
2 |
|
Powder River Basin Mining Operations |
20.7 |
23.5 |
|
Other U.S. Thermal Mining Operations |
3.9 |
4.9 |
|
Total U.S. Thermal Mining Operations |
24.6 |
28.4 |
|
Corporate and Other |
0.5 |
0.6 |
|
Total |
30.2 |
35.6 |
|
(To contact the reporter on this story: jemma.shang@steelhome.cn or 86-555-2238875 18155520624) |
