Arch Coal adjusted loss widens on soft metallurgical coal market

July 30 Tue Jul 30, 2013 8:09am EDT

July 30 (Reuters) - Arch Coal Inc reported a wider adjusted net loss on Tuesday on a drop in metallurgical coal prices, though the coal miner said the outlook for the U.S. thermal coal market was improving.

Arch reported an adjusted net loss of $60.5 million, or 29 cents a share, compared with a loss of $22.1 million, or 10 cents a share, in the year-ago period.

Including one-items like impairment charges, Arch's net loss was 34 cents a share, compared with a net loss of $2.05 a share in the second quarter of 2012, when it idled five coal mines and recorded a $526 million charge.

Revenue from continuing operations fell 21 percent to $766.3 million on a weaker market for metallurgical coal.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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