Alpha Metallurgical Resources, Inc. (NYSE: AMR) has reported its financial results for the fourth quarter and full year ending December 31, 2025. The company's net loss for the fourth quarter of 2025 was $17.3 million, compared to a net loss of $5.5 million in the third quarter and a net loss of $2.1 million in the fourth quarter of 2024. This equated to a net loss per diluted share of $1.34 for the fourth quarter of 2025, as opposed to $0.42 in the third quarter and $0.16 in the fourth quarter of 2024.
Furthermore, Alpha reported adjusted EBITDA of $28.5 million for the fourth quarter, a decrease from $41.7 million in the third quarter and $53.2 million in the fourth quarter of 2024. The company's tons of coal sold also saw a decrease, with 3.8 million tons in the fourth quarter of 2025, compared to 3.9 million tons in the third quarter and 4.1 million tons in the fourth quarter of 2024.
In terms of coal revenues, Alpha reported $519.1 million for the met segment in the fourth quarter of 2025, slightly down from $525.2 million in the third quarter. The company sold 3.8 million tons in the met segment, compared to 3.9 million tons in the third quarter. The net realized pricing for the met segment in the fourth quarter of 2025 was $115.31 per ton.
Cost of coal sales also saw an increase, with the met segment cost of coal sales averaging $101.43 per ton in the fourth quarter of 2025, up from $97.27 per ton in the third quarter.
Additionally, Alpha's liquidity decreased, with cash provided by operating activities dropping to $19.0 million in the fourth quarter, down from $50.6 million in the third quarter. Capital expenditures for the fourth quarter were $29.0 million, compared to $25.1 million for the third quarter. As of December 31, 2025, the company had total liquidity of $524.3 million, including cash and cash equivalents of $366.0 million.
In terms of share repurchases, Alpha had acquired approximately 6.9 million shares of common stock at a cost of approximately $1.1 billion as of February 20, 2026. The company's board of directors had authorized a share repurchase program allowing for the expenditure of up to $1.5 billion for the repurchase of the company's common stock.
Looking ahead, the company provided operational performance updates for 2026, stating that as of February 17, 2026, at the midpoint of guidance, Alpha had committed and priced approximately 37% of its metallurgical coal for 2026 at an average price of $134.02 per ton and 77% of its thermal coal for the year at an average price of $73.17 per ton.
Alpha Metallurgical Resources is a Tennessee-based mining company with operations across Virginia and West Virginia, supplying metallurgical products to the steel industry. The company's total long-term debt, including the current portion of long-term debt as of December 31, 2025, was $13.4 million. The market has reacted to these announcements by moving the company's shares -3.54% to a price of $240.82. For the full picture, make sure to review Alpha Metallurgical Resources's 8-K report.
