Arch: Fourth-quarter production levels below expectations - Beckley, Bluefield & Lewisburg News, Weather, Sports

Arch: Fourth-quarter production levels below expectations

Posted: Updated:
  • Local NewsLocal NewsMore>>

  • Beckley Motor Speedway holds open practice

    Beckley Motor Speedway holds open practice

    Beckley Motor Speedway holds open practice

    Sunday, April 20 2014 9:30 AM EDT2014-04-20 13:30:13 GMT
    Today the Beckley Motor Speedway held an open practice for any racer who wanted to test out the track.
    Today the Beckley Motor Speedway held an open practice for any racer who wanted to test out the track.
  • One man shot early Saturday morning in Beckley

    One man shot early Saturday morning in Beckley

    Sunday, April 20 2014 5:43 AM EDT2014-04-20 09:43:44 GMT
         One man is in custody Saturday after a bar shooting in Raleigh County.
         One man is in custody Saturday after a bar shooting in Raleigh County.
  • Crews fight house fire in Fayette County for several hours Saturday

    Crews fight house fire in Fayette County for several hours Saturday

    Saturday, April 19 2014 11:24 PM EDT2014-04-20 03:24:33 GMT
    Crews fought a house fire in Fayette County Saturday evening for several hours. 911 Dispatchers said the call came in of a house fire on Paint Creek Road near Pax around 6:30 p.m. Pax Fire Department and Bradley-Prosperity Fire Department responded along with several other crews. We're told no one was inside the home when the fire happened.
    Crews fought a house fire in Fayette County Saturday evening for several hours. 911 Dispatchers said the call came in of a house fire on Paint Creek Road near Pax around 6:30 p.m. Pax Fire Department and Bradley-Prosperity Fire Department responded along with several other crews. We're told no one was inside the home when the fire happened.

Arch Coal notified investors and analysts Jan. 21 that lower-than-planned shipment levels in the Powder River Basin and reduced production levels at the Mountain Laurel complex in Appalachia will affect its fourth quarter 2013 financial results.   

Arch's fourth-quarter 2013 shipment levels in the Powder River Basin decreased by more than 15 percent from third quarter levels due to rail service issues on the Joint Line,the company said. Shipments fell because Arch's current mix of sales contracts skews more heavily toward customers utilizing the rail operator with the majority of the shortfall. The lower-than-expected shipments in the fourth quarter caused thermal volumes for 2013 to be below the company's previous expectations.

"Although rail disruptions impacted our PRB operations in the fourth quarter, we would expect to make up a majority of those shipments during 2014 as rail service improves throughout the year," said John W. Eaves, Arch's president and chief executive officer, said in a news release.

At the Laurel Mountain complex, fourth quarter 2013 production at the mine decreased by 40 percent as compared to third quarter levels. As a result, the company's full year 2013 metallurgical coal sales volumes were slightly below the low end of its previous expectations.

Arch Coal's fourth quarter 2013 earnings release will be issued before the market opens on Tuesday, Feb. 4. Management's conference call with analysts is scheduled for 10 a.m. that day.