Alpha Metallurgical Resources, Inc.
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 6, 2026
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(15) Segment Information
The Company currently conducts its mining operations within the Central Appalachia (“CAPP”) coal basin located in the United States. The Company hasone reportable operating segment: Met, which consists ofsix active mining complexes whose primary product is metallurgical quality coal that is extracted, processed, and marketed to domestic and international steel and coke producers. In addition to its primary product, thermal quality coal may also be produced as a by-product and marketed to domestic and international utilities and industrial customers. The segment’s equity method investment in DTA facilitates the export of coal to international customers. Segment operating results are regularly reviewed by the Company’s Chief Executive Officer, who is considered its Chief Operating Decision Maker (“CODM”).
Met reportable segment results for the three and nine months ended September 30, 2026 and 2025 are as follows:
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Coal revenues | $560,579 | $525,203 | $1,575,617 | $1,603,545 |
| Other revenues | 1,666 | 1,575 | 4,471 | 5,464 |
| Total revenues | $562,245 | $526,778 | $1,580,088 | $1,609,009 |
| Non-GAAP cost of coal sales | $418,617 | $374,670 | $1,172,709 | $1,178,183 |
| Freight and handling costs | 86,508 | 82,448 | 232,942 | 250,961 |
| Idled and closed mine costs | 4,531 | 4,517 | 22,057 | 17,028 |
| Cost of coal sales (exclusive of items shown separately below) | $509,656 | $461,635 | $1,427,708 | $1,446,172 |
| Depreciation, depletion and amortization | $35,486 | $43,899 | $111,456 | $132,631 |
| Accretion on asset retirement obligations | 5,249 | 5,503 | 15,678 | 16,625 |
| Amortization of acquired intangibles | 876 | 1,357 | 2,628 | 4,071 |
| Selling, general and administrative expenses | 18,668 | 15,697 | 52,523 | 46,337 |
| Interest expense | 967 | 765 | 2,770 | 2,289 |
| Interest income | (2,561) | (3,948) | (9,686) | (12,193) |
| Equity loss in affiliates | 4,754 | 6,240 | 17,204 | 19,936 |
| Other segment items (1) | 4,120 | 4,475 | 9,982 | 13,572 |
| Income tax benefit | (5,677) | (3,330) | (17,598) | (16,015) |
| Total other expenses | $61,882 | $70,658 | $184,957 | $207,253 |
| Net loss | $(9,293) | $(5,515) | $(32,577) | $(44,416) |
(1)Other segment items include Other operating loss (income) and Miscellaneous expense, net.
Refer to the Company’s Condensed Consolidated Balance Sheets and Statements of Cash Flows for information on its consolidated assets and capital expenditures. The Company’s investment in equity method investees as of September 30, 2026 and December 31, 2025 was $73,031 and $53,850, respectively. No further segment level asset information is reviewed by the CODM.
The Company markets produced, processed and purchased coal to customers in the United States and in international markets. Revenue is tracked within the Company’s accounting records based on the product destination. The following tables present additional information on the Company’s revenues and top customers:
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Total coal revenues | $560,579 | $525,203 | $1,575,617 | $1,603,545 |
| Total revenues | $562,245 | $526,778 | $1,580,088 | $1,609,009 |
| Export coal revenues | $415,931 | $379,329 | $1,173,035 | $1,170,023 |
| Export coal revenues as % of total coal revenues | 74% | 72% | 74% | 73% |
| Countries with export coal revenue exceeding 10% of total revenues | India | India | India, Turkey | India |
| Top customer as % of total revenues | 12% | 13% | 13% | 14% |
| Top 10 customers as % of total revenues | 78% | 78% | 75% | 78% |
| Number of customers exceeding 10% of total revenues | 3 | 2 | 3 | 4 |
| As of September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Number of customers exceeding 10% of total trade accounts receivable, net | 2 | 3 |
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