Form 8-K

8-K — Alpha Metallurgical Resources, Inc.

Accession: 0001704715-26-000030

Filed: 2026-08-07

Period: 2026-08-07

CIK: 0001704715

SIC: 1221 (BITUMINOUS COAL & LIGNITE SURFACE MINING)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — amr-20260807.htm (Primary)

EX-99.1 — PRESS RELEASE DATED AUGUST 7, 2026 (pressrelease6302026.htm)

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XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: amr-20260807.htm · Sequence: 1

amr-20260807

false000170471500017047152026-08-072026-08-07

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_______________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): August 7, 2026

ALPHA METALLURGICAL RESOURCES, INC.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

001-38735

81-3015061

(Commission File Number)

(I.R.S. Employer Identification No.)

340 Martin Luther King Jr. Blvd.

Bristol, Tennessee 37620

(Address of principal executive offices, zip code)

(423) 573-0300

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock AMR New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

TABLE OF CONTENTS

Item 2.02 Results of Operations and Financial Condition

Item 9.01 Financial Statements and Exhibits

Signatures

Exhibit Index

Item 2.02 Results of Operations and Financial Condition.

On August 7, 2026, Alpha Metallurgical Resources, Inc. (the “Company”) issued a press release announcing earnings and other financial results for its fiscal quarter ended June 30, 2026. The press release is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit 99.1

Press Release dated August 7, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the duly authorized undersigned.

Alpha Metallurgical Resources, Inc.

Date: August 7, 2026

By:

/s/ J. Todd Munsey

Name: J. Todd Munsey

Title: Chief Financial Officer

EXHIBIT INDEX

Exhibit No. Description

Exhibit 99.1

Press Release dated August 7, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

EX-99.1 — PRESS RELEASE DATED AUGUST 7, 2026

EX-99.1

Filename: pressrelease6302026.htm · Sequence: 2

Document

FOR IMMEDIATE RELEASE

Alpha Announces Financial Results for Second Quarter 2026

•Reports second quarter net loss of $12.3 million and Adjusted EBITDA of $25.6 million

BRISTOL, Tenn., August 7, 2026 - Alpha Metallurgical Resources, Inc. (NYSE: AMR), a leading U.S. supplier of metallurgical products for the steel industry, today reported financial results for the second quarter ending June 30, 2026.

(millions, except per share)

Three months ended

Jun. 30, 2026 Mar. 31, 2026 Jun. 30, 2025

Net loss

($12.3) ($11.0) ($5.0)

Net loss per diluted share

($0.96) ($0.86) ($0.38)

Adjusted EBITDA(1)

$25.6 $30.0 $46.1

Operating cash flow

$39.9 $29.0 $53.2

Capital expenditures ($45.1) ($40.7) ($34.6)

Tons of coal sold 3.5 3.6 3.9

__________________________________

1. This is a non-GAAP financial measure. A reconciliation of Net Loss to Adjusted EBITDA is included in tables accompanying the financial schedules.

“Due to several factors, we closed out the first half of 2026 with fewer tons shipped and higher costs than expected,” said Andy Eidson, Alpha’s chief executive officer. “Those realities are evident in our second quarter results, and they informed our decision to release adjusted guidance ranges for sales volumes and cost of coal sales. We continue to engage with terminal leaders at Dominion Terminal Associates (DTA) to address the high-wind storm damage that occurred in June. Our reduced sales volume guidance for the balance of the year incorporates our expectations of reduced efficiency at DTA, which we plan to mitigate in part by utilizing our throughput capacity at other East Coast terminals. Once the insurance claims process advances,

alongside conversations with third party equipment providers, terminal leadership should gain additional clarity regarding the longer-term plan for replacing the stacker reclaimer. In the immediate term, however, we remain appreciative of the cooperation from DTA leaders in working through these challenges and their resourcefulness in keeping the terminal running as well as possible under the circumstances.”

Eidson continued: “With soft met market conditions persisting, our increased cost of coal sales guidance incorporates our expectation of fewer shipped tons for the year, together with the continuation of higher supply costs we’ve been experiencing.”

Financial Performance

Alpha reported a net loss of $12.3 million, or $0.96 per diluted share, for the second quarter, as compared to net loss of $11.0 million, or $0.86 per diluted share, in the first quarter.

Total Adjusted EBITDA was $25.6 million for the second quarter, compared to $30.0 million in the first quarter.

Coal Revenues

(millions)

Three months ended

Jun. 30, 2026 Mar. 31, 2026

Met segment $491.5 $523.5

Met segment (excl. freight & handling)(1)

$421.3 $447.3

Tons Sold (millions)

Three months ended

Jun. 30, 2026 Mar. 31, 2026

Met segment 3.5 3.6

__________________________________

1. Represents Non-GAAP coal revenues which is defined and reconciled under “Non-GAAP Financial Measures” and “Results of Operations.”

Coal Sales Realization(1)

(per ton)

Three months ended

Jun. 30, 2026 Mar. 31, 2026

Met segment $118.71 $124.39

__________________________________

1. Represents Non-GAAP coal sales realization which is defined and reconciled under “Non-GAAP Financial Measures” and “Results of Operations.”

Second quarter net realized pricing for the Met segment was $118.71 per ton.

The table below provides a breakdown of our Met segment coal sold in the second quarter by pricing mechanism.

(in millions, except per ton data)

Met Segment Sales Three months ended Jun. 30, 2026

Tons Sold Coal Revenues

Realization/ton(1)

% of Met Tons Sold

Domestic 0.9 $124.8 $134.37 30%

Export - Australian indexed 0.7 $98.5 $143.82 22%

Export - other pricing mechanisms 1.5 $162.9 $109.08 48%

Total Met coal revenues 3.1 $386.2 $124.30 100%

Thermal coal revenues 0.4 $35.1 $79.36

Total Met segment coal revenues (excl. freight & handling)(1)

3.5 $421.3 $118.71

__________________________________

1. Represents Non-GAAP coal sales realization which is defined and reconciled under “Non-GAAP Financial Measures” and “Results of Operations.”

Cost of Coal Sales

(in millions, except per ton data)

Three months ended

Jun. 30, 2026 Mar. 31, 2026

Met segment $443.7 $474.4

Met segment (excl. freight & handling/idle)(1)

$365.8 $388.3

(per ton)

Met segment(1)

$103.07 $107.98

__________________________________

1. Represents Non-GAAP cost of coal sales and Non-GAAP cost of coal sales per ton which is defined and reconciled under “Non-GAAP Financial Measures” and “Results of Operations.”

Alpha’s Met segment cost of coal sales decreased to an average of $103.07 per ton in the second quarter, compared to $107.98 per ton in the first quarter.

Liquidity and Capital Resources

Cash provided by operating activities in the second quarter increased to $39.9 million as compared to $29.0 million in the first quarter. Capital expenditures for the second quarter were $45.1 million compared to $40.7 million for the first quarter.

As of June 30, 2026, the company had total liquidity of $447.8 million, including cash and cash equivalents of $307.6 million, short-term investments of $30.9 million, and $184.3 million of unused availability under the asset-based revolving credit facility (ABL), partially offset by a

minimum required liquidity of $75.0 million as required by the ABL. As of June 30, 2026, the company had no amounts borrowed and $40.7 million in letters of credit outstanding under the ABL. Total long-term debt, including the current portion of long-term debt as of June 30, 2026, was $11.4 million.

Share Repurchase Program

As previously announced, Alpha’s board of directors authorized a share repurchase program allowing for the expenditure of up to $1.5 billion for the repurchase of the company’s common stock. As of July 31, 2026, the company had acquired approximately 7.0 million shares of common stock at a cost of approximately $1.2 billion, or approximately $166.29 per share. The number of common stock shares outstanding as of July 31, 2026 was 12,679,045, not including the potential effect of unvested equity awards.

The timing and amount of share repurchases will be based on various factors, including but not limited to market conditions, the trading price of the stock, applicable legal requirements, compliance with the provisions of the company's debt agreements, and other factors.

2026 Operational Performance Update

As of July 30, 2026, Alpha has committed and priced approximately 70% of its metallurgical coal for 2026 at an average price of $128.17 per ton. At the midpoint of guidance, Alpha’s thermal coal is fully committed for the year at an average price of $75.94 per ton.

2026 Guidance

in millions of tons Low High

Metallurgical 13.2 14.0

Thermal 1.0 1.4

Met segment - total shipments 14.2 15.4

Committed/Priced1,2,3

Committed

Volume (in millions of tons)

Average Price

Metallurgical - domestic 3.8 $136.18

Metallurgical - export 5.7 $122.77

Metallurgical total 70 % 9.5 $128.17

Thermal 100 % 1.3 $75.94

Met segment

73 % 10.8 $121.94

Committed/Unpriced1,3

Committed

Metallurgical total 30 %

Thermal — %

Met segment

27 %

Costs per ton4

Low High

Met segment $103.00 $107.00

in millions (except taxes) Low High

SG&A5

$53 $59

Idle operations expense $24 $32

Net cash interest income $2 $6

DD&A $160 $174

Capital expenditures $148 $168

Capital contributions to equity affiliates6

$35 $45

Cash tax rate 0 % 5 %

Notes:

1.Based on committed and priced coal shipments as of July 30, 2026. Committed percentage based on the midpoint of shipment guidance range.

2.Actual average per-ton realizations on committed and priced tons recognized in future periods may vary based on actual freight expense in future periods relative to assumed freight expense embedded in projected average per-ton realizations.

3.Includes estimates of future coal shipments based upon contract terms and anticipated delivery schedules. Actual coal shipments may vary from these estimates.

4.Note: The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP cost of coal sales per ton sold financial measures to the most directly comparable GAAP measures without unreasonable efforts due to the inherent difficulty in forecasting and quantifying with reasonable accuracy significant items required for the reconciliation. The most directly comparable GAAP measure, GAAP cost of sales, is not accessible without unreasonable efforts on a forward-looking basis. The reconciling items include freight and handling costs, which are a component of GAAP cost of sales. Management is unable to predict without unreasonable efforts freight and handling costs due to uncertainty as to the end market and FOB point for uncommitted sales volumes and the final shipping point for export shipments. These amounts have varied historically and may continue to vary significantly from quarter to quarter and material changes to these items could have a significant effect on our future GAAP results.

5.Excludes expenses related to non-cash stock compensation and non-recurring expenses.

6.Includes contributions to fund normal operations at our DTA export facility and expected capital investments related to the facility upgrades.

Conference Call

The company plans to hold a conference call regarding its second quarter results on August 7, 2026, at 10:00 a.m. Eastern time. The conference call will be available live on the investor section of the company’s website at https://alphametresources.com/investors. Analysts who would like to participate in the conference call should dial 877-407-0832 (domestic toll-free) or 201-689-8433 (international) approximately 15 minutes prior to start time.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources (NYSE: AMR) is a Tennessee-based mining company with operations across Virginia and West Virginia. With customers across the globe, high-quality reserves and significant port capacity, Alpha reliably supplies metallurgical products to the steel industry. For more information, visit www.AlphaMetResources.com.

Forward-Looking Statements

This news release includes forward-looking statements. These forward-looking statements are based on Alpha’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Alpha’s control. Forward-looking statements in this news release or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Alpha to predict these events or how they may affect Alpha. Except as required by law, Alpha has no duty to, and does not intend to, update or revise the forward-looking statements in this news release or elsewhere after the date this release is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this news release may not occur. See Alpha’s filings with the U.S. Securities and Exchange Commission for more information.

FINANCIAL TABLES FOLLOW

Non-GAAP Financial Measures

The discussion below contains “non-GAAP financial measures.” These are financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP” or “GAAP”). Specifically, we make use of the non-GAAP financial measures “Adjusted EBITDA,” “non-GAAP coal revenues,” “non-GAAP coal sales realization per ton,” “non-GAAP cost of coal sales,” “non-GAAP cost of coal sales per ton,” “non-GAAP coal margin,” and “non-GAAP coal margin per ton.” In addition to net income (loss), we use Adjusted EBITDA to measure the operating performance of our reportable segment. Adjusted EBITDA does not purport to be an alternative to net income (loss) as a measure of operating performance or any other measure of operating results, financial performance, or liquidity presented in accordance with GAAP. Moreover, this measure is not calculated identically by all companies and therefore may not be comparable to similarly titled measures used by other companies. Adjusted EBITDA is presented because management believes it is a useful indicator of the financial performance of our coal operations. We use non-GAAP coal revenues to present coal revenues generated, excluding freight and handling fulfillment revenues. Non-GAAP coal sales realization per ton is calculated as non-GAAP coal revenues divided by tons sold. We use non-GAAP cost of coal sales to adjust cost of coal sales to remove freight and handling costs, depreciation, depletion and amortization - production (excluding the depreciation, depletion and amortization related to selling, general and administrative functions), accretion on asset retirement obligations, amortization of acquired intangibles, and idled and closed mine costs. Non-GAAP cost of coal sales per ton is calculated as non-GAAP cost of coal sales divided by tons sold. Non-GAAP coal margin is calculated as non-GAAP coal revenues less non-GAAP cost of coal sales. Non-GAAP coal margin per ton is calculated as non-GAAP coal margin divided by tons sold. The presentation of these measures should not be considered in isolation, or as a substitute for analysis of our results as reported under GAAP.

Management uses non-GAAP financial measures to supplement GAAP results to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone. The definition of these non-GAAP measures may be changed periodically by management to adjust for significant items important to an understanding of operating trends and to adjust for items that may not reflect the trend of future results by excluding transactions that are not indicative of our core operating performance. Furthermore, analogous measures are used by industry analysts to evaluate our operating performance. Because not all companies use identical calculations, the presentations of these measures may not be comparable to other similarly titled measures of other companies and can differ significantly from company to company depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which companies operate, capital investments and other factors.

Included below are reconciliations of non-GAAP financial measures to GAAP financial measures.

ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(Amounts in thousands, except share and per share data)

Three Months Ended June 30, Six Months Ended June 30,

2026 2025 2026 2025

Revenues:

Coal revenues $ 491,505 $ 548,675 $ 1,015,038 $ 1,078,342

Other revenues 1,351 1,599 2,805 3,889

Total revenues 492,856 550,274 1,017,843 1,082,231

Costs and expenses:

Cost of coal sales (exclusive of items shown separately below) 443,663 479,953 918,052 984,537

Depreciation, depletion and amortization 36,044 44,822 75,970 88,732

Accretion on asset retirement obligations 5,214 5,508 10,429 11,122

Amortization of acquired intangibles 876 1,357 1,752 2,714

Selling, general and administrative expenses (exclusive of depreciation, depletion and amortization shown separately above) 17,257 15,216 33,855 30,640

Other operating loss (income) 302 763 (1,283) 2,006

Total costs and expenses 503,356 547,619 1,038,775 1,119,751

(Loss) income from operations (10,500) 2,655 (20,932) (37,520)

Other (expense) income:

Interest expense (962) (761) (1,803) (1,524)

Interest income 2,919 4,199 7,125 8,245

Equity loss in affiliates (6,717) (8,736) (12,450) (13,696)

Miscellaneous expense, net (3,587) (3,559) (7,145) (7,091)

Total other expense, net (8,347) (8,857) (14,273) (14,066)

Loss before income taxes (18,847) (6,202) (35,205) (51,586)

Income tax benefit 6,595 1,248 11,921 12,685

Net loss $ (12,252) $ (4,954) $ (23,284) $ (38,901)

Basic loss per common share $ (0.96) $ (0.38) $ (1.83) $ (2.98)

Diluted loss per common share $ (0.96) $ (0.38) $ (1.83) $ (2.98)

Weighted average shares – basic

12,713,728 13,057,749 12,756,644 13,052,706

Weighted average shares – diluted

12,713,728 13,057,749 12,756,644 13,052,706

ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(Amounts in thousands, except share and per share data)

June 30, 2026 December 31, 2025

Assets

Current assets:

Cash and cash equivalents $ 307,595 $ 365,974

Short-term investments 30,887 49,582

Trade accounts receivable, net of allowance for credit losses of $2,714 and $2,519 as of June 30, 2026 and December 31, 2025, respectively

230,565 278,620

Inventories, net 262,435 193,000

Prepaid expenses and other current assets 30,981 31,132

Total current assets 862,463 918,308

Property, plant, and equipment, net of accumulated depreciation and amortization of $837,738 and $774,101 as of June 30, 2026 and December 31, 2025, respectively

637,737 621,866

Owned and leased mineral rights, net of accumulated depletion and amortization of $162,223 and $150,616 as of June 30, 2026 and December 31, 2025, respectively

408,456 416,944

Other acquired intangibles, net of accumulated amortization of $44,825 and $43,072 as of June 30, 2026 and December 31, 2025, respectively

32,700 34,452

Long-term restricted cash 128,219 126,911

Long-term restricted investments 34,453 34,356

Deferred income taxes 8,361 8,087

Other non-current assets 143,358 119,702

Total assets $ 2,255,747 $ 2,280,626

Liabilities and Stockholders’ Equity

Current liabilities:

Current portion of long-term debt $ 3,199 $ 3,575

Trade accounts payable 86,714 66,169

Accrued expenses and other current liabilities 163,346 135,778

Total current liabilities 253,259 205,522

Long-term debt 8,202 9,841

Workers’ compensation and black lung obligations 188,596 190,965

Pension obligations 76,077 87,317

Asset retirement obligations 204,242 204,745

Deferred income taxes 5,237 15,433

Other non-current liabilities 21,315 21,308

Total liabilities 756,928 735,131

Commitments and Contingencies

Stockholders’ Equity

Preferred stock - par value $0.01, 5,000,000 shares authorized, none issued

— —

Common stock - par value $0.01, 50,000,000 shares authorized, 22,496,891 issued and 12,685,495 outstanding at June 30, 2026 and 22,437,379 issued and 12,805,909 outstanding at December 31, 2025

225 224

Additional paid-in capital 860,001 852,030

Accumulated other comprehensive loss (55,187) (60,433)

Treasury stock, at cost: 9,811,396 shares at June 30, 2026 and 9,631,470 shares at December 31, 2025

(1,377,653) (1,341,027)

Retained earnings 2,071,433 2,094,701

Total stockholders’ equity 1,498,819 1,545,495

Total liabilities and stockholders’ equity $ 2,255,747 $ 2,280,626

ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(Amounts in thousands)

Six Months Ended June 30,

2026 2025

Operating activities:

Net loss $ (23,284) $ (38,901)

Adjustments to reconcile net loss to net cash provided by operating activities:

Depreciation, depletion and amortization 75,970 88,732

Amortization of acquired intangibles 1,752 2,714

(Gain) loss on disposal of assets, net (2,071) 138

Accretion on asset retirement obligations 10,429 11,122

Employee benefit plans, net 14,646 11,628

Deferred tax benefit (11,932) (12,663)

Stock-based compensation 7,972 7,455

Equity loss in affiliates 12,450 13,696

Other, net 2,250 365

Changes in operating assets and liabilities (19,272) (8,874)

Net cash provided by operating activities 68,910 75,412

Investing activities:

Capital expenditures (85,816) (73,092)

Capital contributions to equity affiliates (23,325) (23,509)

Purchases of investment securities (48,886) (29,303)

Sales and maturities of investment securities 68,327 30,630

Other, net 2,139 107

Net cash used in investing activities (87,561) (95,167)

Financing activities:

Principal repayments of long-term debt (1,620) (1,561)

Common stock repurchases and related expenses (36,728) (5,155)

Other, net (72) (2,557)

Net cash used in financing activities (38,420) (9,273)

Net decrease in cash and cash equivalents and restricted cash (57,071) (29,028)

Cash and cash equivalents and restricted cash at beginning of period 492,885 604,161

Cash and cash equivalents and restricted cash at end of period $ 435,814 $ 575,133

Supplemental disclosure of noncash investing and financing activities:

Accrued capital expenditures $ 10,967 $ 7,831

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Condensed Consolidated Statements of Cash Flows.

As of June 30,

2026 2025

Cash and cash equivalents $ 307,595 $ 449,027

Long-term restricted cash 128,219 126,106

Total cash and cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows $ 435,814 $ 575,133

ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES

ADJUSTED EBITDA RECONCILIATION

(Amounts in thousands)

Three Months Ended Six Months Ended June 30,

June 30, 2026 March 31, 2026 June 30, 2025 2026 2025

Net loss $ (12,252) $ (11,032) $ (4,954) $ (23,284) $ (38,901)

Interest expense 962 841 761 1,803 1,524

Interest income (2,919) (4,206) (4,199) (7,125) (8,245)

Income tax benefit (6,595) (5,326) (1,248) (11,921) (12,685)

Depreciation, depletion and amortization 36,044 39,926 44,822 75,970 88,732

Non-cash stock compensation expense 4,236 3,736 4,018 7,972 7,455

Accretion on asset retirement obligations 5,214 5,215 5,508 10,429 11,122

Amortization of acquired intangibles 876 876 1,357 1,752 2,714

Adjusted EBITDA $ 25,566 $ 30,030 $ 46,065 $ 55,596 $ 51,716

ALPHA METALLURGICAL RESOURCES, INC. AND SUBSIDIARIES

RESULTS OF OPERATIONS

Three Months Ended

(In thousands, except for per ton data) June 30, 2026 March 31, 2026 June 30, 2025

Coal revenues $ 491,505 $ 523,533 $ 548,675

Less: freight and handling fulfillment revenues (70,220) (76,214) (84,589)

Non-GAAP coal revenues $ 421,285 $ 447,319 $ 464,086

Non-GAAP coal sales realization per ton $ 118.71 $ 124.39 $ 119.43

Cost of coal sales (exclusive of items shown separately below) $ 443,663 $ 474,389 $ 479,953

Depreciation, depletion and amortization - production (1)

35,750 39,606 44,504

Accretion on asset retirement obligations 5,214 5,215 5,508

Amortization of acquired intangibles 876 876 1,357

Total cost of coal sales 485,503 520,086 531,322

Less: freight and handling costs (70,220) (76,214) (84,589)

Less: depreciation, depletion and amortization - production (1)

(35,750) (39,606) (44,504)

Less: accretion on asset retirement obligations (5,214) (5,215) (5,508)

Less: amortization of acquired intangibles (876) (876) (1,357)

Less: idled and closed mine costs (7,654) (9,872) (6,520)

Non-GAAP cost of coal sales $ 365,789 $ 388,303 $ 388,844

Non-GAAP cost of coal sales per ton $ 103.07 $ 107.98 $ 100.06

GAAP coal margin $ 6,002 $ 3,447 $ 17,353

GAAP coal margin per ton $ 1.69 $ 0.96 $ 4.47

Non-GAAP coal margin $ 55,496 $ 59,016 $ 75,242

Non-GAAP coal margin per ton $ 15.64 $ 16.41 $ 19.36

Tons sold 3,549 3,596 3,886

(1) Depreciation, depletion and amortization - production excludes the depreciation, depletion and amortization related to selling, general and administrative functions.

Six Months Ended

(In thousands, except for per ton data) June 30, 2026 June 30, 2025

Coal revenues $ 1,015,038 $ 1,078,342

Less: freight and handling fulfillment revenues (146,434) (168,513)

Non-GAAP coal revenues $ 868,604 $ 909,829

Non-GAAP coal sales realization per ton $ 121.57 $ 119.03

Cost of coal sales (exclusive of items shown separately below) $ 918,052 $ 984,537

Depreciation, depletion and amortization - production (1)

75,356 88,096

Accretion on asset retirement obligations 10,429 11,122

Amortization of acquired intangibles 1,752 2,714

Total cost of coal sales 1,005,589 1,086,469

Less: freight and handling costs (146,434) (168,513)

Less: depreciation, depletion and amortization - production (1)

(75,356) (88,096)

Less: accretion on asset retirement obligations (10,429) (11,122)

Less: amortization of acquired intangibles (1,752) (2,714)

Less: idled and closed mine costs (17,526) (12,511)

Non-GAAP cost of coal sales $ 754,092 $ 803,513

Non-GAAP cost of coal sales per ton $ 105.54 $ 105.12

GAAP coal margin $ 9,449 $ (8,127)

GAAP coal margin per ton $ 1.32 $ (1.06)

Non-GAAP coal margin $ 114,512 $ 106,316

Non-GAAP coal margin per ton $ 16.03 $ 13.91

Tons sold 7,145 7,644

(1) Depreciation, depletion and amortization - production excludes the depreciation, depletion and amortization related to selling, general and administrative functions.

Three Months Ended June 30, 2026

(In thousands, except for per ton data) Tons Sold Coal Revenues Non-GAAP Coal sales realization per ton % of Met Tons Sold

Domestic 929 $ 124,829 $ 134.37 30 %

Export - Australian indexed 685 98,516 $ 143.82 22 %

Export - other pricing mechanisms 1,493 162,863 $ 109.08 48 %

Total Met segment - met coal 3,107 386,208 $ 124.30 100 %

Met segment - thermal coal 442 35,077 $ 79.36

Non-GAAP coal revenues 3,549 421,285 $ 118.71

Add: freight and handling fulfillment revenues — 70,220

Coal revenues 3,549 $ 491,505

Six Months Ended June 30, 2026

(In thousands, except for per ton data) Tons Sold Coal Revenues Non-GAAP Coal sales realization per ton % of Met Tons Sold

Domestic 1,737 $ 235,882 $ 135.80 27 %

Export - Australian indexed 1,805 260,863 $ 144.52 28 %

Export - other pricing mechanisms 2,916 319,844 $ 109.69 45 %

Total Met segment - met coal 6,458 816,589 $ 126.45 100 %

Met segment - thermal coal 687 52,015 $ 75.71

Non-GAAP coal revenues 7,145 868,604 $ 121.57

Add: freight and handling fulfillment revenues — 146,434

Coal revenues 7,145 $ 1,015,038

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Aug. 07, 2026

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