Earnings call transcript Q4 2022

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Operator

Greetings. Welcome to the Alpha Metallurgical Resources Fourth Quarter 2022 Results Conference Call. [Operator Instructions]. Please note, this conference is being recorded.

I would now like to turn the conference over to your host, Emily O'Quinn, Senior Vice President, Investor Relations and Communications.

begin now may You

Emily O'Quinn

from materially those Difficulty] discussed. [Technical

associated information factors that more company's quarter and regarding refer forward-looking the of fourth the release earnings some and XXXX filing. can the statements to For SEC affect please them,

on and about Whitehead. Executive Please non-GAAP call use Financial and Officer, the GAAP Participating Andy measures for today Also call President to of on reconciliation Eidson; Officer. our the Horn, Munsey, also Chief their are Todd documents Jason our see and measures. Officer; those participating our Operating information Officer, and Commercial Alpha's Chief are our Chief Chief Dan

With turn I'll to Andy. that, call the over

Andy Eidson

morning, Emily. everyone. Good Thanks,

we to XXXX, what results before quick today. always, Alpha's But at provide outlook take on look do back the detail fourth and I that, was? a call As we quarter it very want some for will a additional our XXXX year tremendous on

declared of generated us XX.X balance, Our adjusted company billion pay in We the invested world. and million benefits to our allowed cash billion over tons shareholders Alpha of term in our off for XX completely shipped making the $XXX $X.X significantly free XXXX. coal debt. through form flow, compensation, worth team workforce a of to in $X.X of which around customers to dividends enhanced billion $X.X free million long-term EBITDA performance. We of returned low record and and roughly countries another We opportunities bonus back incentive in exceptional bought Alpha of stock the

alongside record TRIR. able NFDL reportable expanded NFDL non-fatal focus beyond industry safety initiatives. at incident better average total compliance, achieved the in our on for water to days was rate than time. or performed same company this or quality XX.X% were of posted the The compliance maintain We All lost and and, rates

last competition national teams and technical Rescue Mind a both titles. overall other category won honors awards place several in year championship with Our first

bolstered Refuse Creek Toms Underground south Award, Impoundment the Best Producers Alphas Mine received front, Coal stewardship environmental to top consistent environmental Award best-in-class Metallurgical groups each focus on respectively. Deep Active friendly compete other Creek, Completed is operating awards and competition within and our the against allow that On Impoundment their Toms our operational and Best for by compliance through honors XXXX The category. Mine safety further Association

their the in winners were Tonal Marmon Glen congratulate processing Mine the to class Kings and best Fork the and on Caper System, announced proud XXXX. Transfer or as we're Allen for The Bishop just Plant Mar selection and South the Mine, Doc River Surface

also as President August, our Within several Chairman executive Controller, moved the to Financial serving we Whitehead as CEO. continuing as Operating Officer last months, over leadership I succession in as expanded successfully Senior years is as many year Stetson Officer stepped the into Vice as took Chief President and the In Chief David leadership Munsey completed position. At and Todd role include well. Alpha's an he's end, role Executive Jason after plan. his

Jason, Horn, smoothly of alongside another at to XXXX Roger are work All the and for make have Dan year and and Todd changes together gone company. these I Nicholson hard great

nearly belts cautiously four With our remain optimistic of under this about prospects. I year months now, year's two the calendar

very sales work high far to behind team ourselves were year because performing quarter a to and We perspective teams. goals. a we operations end, from the pressing well release finished hold issues the we fourth As the this we is very do we're that ambitious And and ahead to hard our geological appear against dampen to said satisfied of with with standard. year results us. so in an and those production this how various Thanks our the and largely transportation that morning, not be logistics

highness, supplies the be continuing the with coal foundation year metallurgical follow few POV to last key show experiencing over Australian we East weeks global coal sustained in seems we've performance, been positive good $XXX a moving the the Coast for recently, approaching upward place. very to strength markets indices the Together with rail and US are Due again. to

ourselves. of While neither rebuild our rail labor. Alpha mind, but own machine And parts the integrated actions supply, focus, approach three we the our in to of as of alpha two subsidiary Alpha, coal of with challenges in are just broad there unique to the are believe it transportation. is finding pride are sometimes remarks, examples own nor We taken share are years, near prove at past maximum no says but strategic of some company we term, of new I new to Alpha's within and office the markets vertically which Jason do a few maximum believe solutions beneficial mitigating immediate both at them. I the more manufacturing two maximum come. coal control, the on and the will areas to our mentality, uniquely obstacles we'll his degree resilient to and taking by in will years departments the making are These problems, these areas own see chain, of to ourselves some trucking challenging top that especially trucking, some key to and also manage I most performance means can. we've steps but destiny looking

Labor. Turning now to

nearly a training I completing significantly to team to We our retain completing XX invested join. and Monitor professionals in training Hat XXX the our our We've Apprentice program challenge another already and workforce attract electrical employees third others XXXX. to exceptional within listed. invested Red part in of with The also

whatever as for continue the prepared may of continue will allow XXXX. year momentum be which year result, our across turnover ticking all building and seek the to overall this rest through areas, we saw three a rates downward to on As progress to I We plan these developed, the of we Alpha that bring. better believe

for ahead sheet, the Strategically, balance continue to targets as we we we've will the protect the term, priorities near discussed. maintaining liquidity and cash look to

repurchases remain focus flow For to the cash bringing $XXX increased these billion. $X.X share another value million, up for just the free The as most share by program. our above levels, authorization creating total return to authorization board the purchase capital committed we

in the over Given fluctuation reminded XX manage and the the the to costs. need last of significant industry indices cyclicality our months, the we're ongoing of

capabilities where This committed we to us the actively is may solidifying we return pricing times capture for what operational short, true environment, what cost especially market in remain pricing less fuel to in that capital management we're and to any and indices leaving control it's our moderate, but that remain develop. set. any and we margin could to In Therefore, excited managing that and industry as important Alpha an for positioned well share we've are we can mitigate role priorities our leader. can't, the environment about production ensure we

with Todd So over it that, turn for I'll our of discussion to financial results.

Todd Munsey

segment XXX,XXX X.X was sold X.X million quarter Thanks, as to down adjusted the Andy. and quarter and dampened $XXX We due met that XXXX and pre-announced discussed Andy category. challenges our from level tons We quarter, EBITDA $XXX an results, quarter tons our all previously financial mentioned. from what results fourth transportation exceptional year million. Fourth our million, the was otherwise geological the million of in third was from which other came of our which

Australian quarter, Our as fourth for mechanisms whole realization to as indices pricing QX. of an and quarter-over-quarter against the realized realized improved other per on while priced tons priced quarter Export met realizations export a $XXX.XX the segment in fourth the ton, with compared $XXX.XX. for in average slightly indices met $XXX.XX Atlantic $XXX.XX coal

realization increased higher per ton. in compared period and incidental a average quarter-over-quarter, Met were in coming portion pricing quarter $XXX.XX Realizations flat in sold. for quarters, the our total the thermal realization increase fourth the of Our the per sales the of QX. per average Metallurgical essentially for was QX ton, ton of $XXX.XX thermal an $XXX.XX prior the reflects This segment, when tons for against weighted at $XXX.XX to as

third in ton $XXX.XX Again, for which the realizations temporarily coal, $XXX.XX a thermal category off. quarter for all Fourth per up fallen the pricing reflection ton, the environment has per were improved other of quarter. from since

mine. of our from $XXX.XX organization labor in mining higher Cost This costs improved includes sales employees in as per again ton across due cold for other $XXX.XX pricing from related our the budgeted per excellent but costs, ton than paid from per quarter. to count to reward incentive the the Due resulting performance. environment, coal high also costs in quarter. to of slab a ton, to the met increase up labor within for stage increased our sales of segment at impacts $XX.XX in category ton, to sales higher team the of to per third thermal Cost bonuses third an well late all coal rose $XX.XX as up part year

QX. compensation increased was within non-cash to from quarter stock fees. the SG&A Fourth in professional as and primarily items fourth bonuses third million in $XX.X increase attributable as paid to quarter as CapEx incentive quarter. the up million $XX.X excluding The in million compared well the higher quarter to $XX non-recurring is $XX million,

Alpha quarterly quarter related in end of the to the the of on flows, million $XX.X third investments in year. We cash paid million unrestricted the in is total availability down had special of cash QX end $XXX.X end in dividends in we $XXX.X the repurchases unused of million had in liquidity during XX, short the of of ABL as and $XXX sheet share and and $XX.X the of at early at December million which balance as million January. from XXXX, deposits in term $XXX.X our Moving quarter. the net to December, the had million

of XXX quarter end QX in generated provided Alpha in operating QX. comparison, as activities XXXX. operating total $X.XX compared billion $XXX from the at million quarter activities cash to was liquidity to quarter Cash decreased by total, over In By million. in third million the $XXX.X in

slightly our XX, December prior million outstanding ABL of of the and had credit of $XX.X no from quarter. down As facility letters borrowings

for sales. segment is of metallurgical $XXX.XX. pleased the committed our at midpoint are and committed with our in price position of at We of our guidance an XXXX XX% MET priced average tonnage

average are priced our midpoint the MET thermal price XX% average other $XX.X. segment but XX% we of and year an almost category in of yet The byproduct of at this priced $XXX.XX, MET committed XXXX the and of Another XX% portion all tonnage with priced. is our and not fully for at committed price an is committed

has to as dividend of board of Alpha's share, a March X April share, prior per an $XX.XX holders increase record on for which the now quarters Looking of payable quarterly our will cash become dividend program, declared per XX. from $X.XX

have a cost common we to share began. continued XXXX, to back through fourth the XXX,XXX common million of average In shares January, of of per XX% the of outstanding the $XXX have price repurchase X.X At The the buy nearly of at program from spent acquire million has Since of we quarter approximately reduced $XXX.XX share in been repurchases, terms we count end program of and share. our the million. a shares XXXX, shares by beginning $XXX weighted time the stock. stock, Alpha's

As shares of approximately outstanding common January was stock of XX.X XXst, the XXXX, number million.

authorization increased $XXX As for bringing our repurchases billion. buyback the Andy mentioned earlier, share total authorization Alpha's to Board $X.X million, by

required and hand self-insured be on our the adopted, required to secure proposed the new we collateral approximately proposed substantially of to lung want of the collateral, I black a $XXX requirements related million increase secure $XX regulations obligations. minimum Alpha's actions Labor XXX% to provide to to Department certain We If newly call of under federal obligations. Jason, of recent quick regulations to could the black I estimate the lung to Before over collateral make comment their requirement. could collateral million DOLs

and portion of monitor party arrangements, or sheet. to this our potential we non-cash covered balance While by process impact will be to its bonding the other continue third could this

turn now the Jason call some I'll operations. for on over details to

Jason Whitehead

I Thanks, best-in-class out to winners. Todd. want the Good morning, start everyone. to XXXX with shout a

load Marfork the Kepler transfer category, best winning bar for showed our winning higher belt Surface for Kingston to winners. the Congratulations even system the year's honors mine for Mine, great our congratulations top of best Surface proud in out and all winning category, this Glen We're competition. underground Bishop as the plant the facility. for Alum and the to Tunnel leadership South again also River best-in-class Miner underground known Dock all processing Mine for Highwall for set and of achieving Marmet category, Division. And You

an perspective, end ‘XX From was the busy. operations of exceptionally

Based number were of As I transportation what on we've but challenges issues those January hampered we're believe fourth geologic mostly disclosed, taken are there so steps a these mitigate some behind quarter numbers we've us. seeing challenges. in to results, our that and February, far and

factors levels Terminal roughly of is our Associates at News, our looking facility. Newport production Facility at inventory this of in two funneled know as through through way met Due thirds chain One is you December. DTA holiday Virginia, Dominion the our to concerns. interruptions, shortages, and at supply in inventory other approximately a number transportation timing outages We of hit including of an tons schedules power availability, trough XX,XXX and DTA

and same up we've U.S. Since in over level of period. that ship last nicely PLV with to East Aussie the the months, up over of low tenfold a diocese moving up the movement roughly that timing shipped XX% This the moving about grown Coast wall that to months. in with plats and the pairs Alpha time we the two more XX% appropriate coming to working coal then, weeks inventory customers expect

One to proactively our team business. a our to the operations highest the us high for ability basic is priorities management protect continue of as of

businesses all decided became issues the to and resolve us others mining we in supply may clear Therefore, vertically integrate step our Most stemming to if to which division, not that and underground of Maxim historically through went dramatic COVID. our equipment. not has more resolved, issues rebuild structural worked it as chain some Rebuild were themselves. But from

outs. the Maxim In machine departments of very and case of preparation supply equipment new the two been have and Bluefield, the problems in Manufacturing, Manufacturing and created, for established real within acquired Maxim Virginia. company to plating we the Maxim Transportation. two chain We new to Now, of parts aspects certain certain and cases, plants these assets of gear load coals our like industrial West trucking address

some for now on equipment them with in-house our supply. have parts optimize bought these components, time and mining worked have to essential We operations we

over transportation to to from of course we coal few from as Turning our maximum of options team ability recognize move bottlenecks calls analyze to in the small of XX significant opportunity A efficiently some planning the drivers the has preparation we transportation our available own the the our trucks, trucking now run get division, and trucks to to to road load barge B, the new roughly our and Alpha mines a employ facilities. utilize acquired coal outs, point plants, our a we point logistics on own the acquire and to transactions. best

a acquisitions we Manufacturing further as and early to of Maxim these like we are look natural Transportation these, While use experience compliment the it's our how both to few hiccups and meeting Maxim in additional integrations days expectations might to opportunities present value ahead efforts. additive

period want the get employees to, I Alpha. these have team members in worked to of very accomplished ambitious to tirelessly welcome goals these want to current again, a I time. who thank short of new both

Virginia this to this want currently first that West highball mine briefly development. is Rolling our we I cuts to Lastly, summer. in its mine take mention newest Thunder, in expect a

to progress will bring we this of possibilities the as we'll and the due about our ahead. updated mine keep to operations, you excited on are existing We move its proximity

With that, for over and Dan some the information on markets our turn to sales the I'll additional efforts. call

Dan Horn

and economic good Thanks, Asia landscape wartime hasn't several especially markets metallurgical The being the everyone. been influenced with morning, favorable global in last over by coal Europe. and months impacts prolonged Jason,

has also Ukraine, world Australia Turkey the contributed market in result an the the and slowing have recent As development. persistent pressure within and extreme and exports in unfortunate been of flooding fourth dynamics. inflationary invasion production a and steel also rain Heavy coal quarter, production earthquake of across Russia's current interrupted to

decision factors and may coal that ban are the months. to years market long XXXX Orical coming shape zero in on its trade flows ease additional its COVID December China's two policy met its Australian strict reversal of

with the all and significantly news negative appear be economic anomaly somewhat indices of world across Given the moving to poor coal markets upwards recent weeks. in the indicators, an

$XXX.XX to October time on Index from increased metric price looking East per end fourth metric The Index metric Australian $XXX that The ton quarter Low end. increased from US quarter metric fourth start per Specifically from Ball ton close. Xst to at $XXX XXX of from Ball metallurgical time ton year at moved Coast on October East A Coast High-Vol Coast for per at of Premium movements $XXX.XX per per ton the U.S. High-Vol quarter. X $XXX the to $XXX per metric Index B per the coal, October on East U.S. at metric the to ton XXst. $XXX fell December Low

In the levels. recent of indices from their all four have mentioned weeks, increased year-end

$XXX. are $XXX index U.S. Coast $XXX index Coast premium High-Vol Low-Vol at at As February the Metallurgical of Coast ton, markets as low assessing The China's COVID country's was while well key the we China's U.S. Australian decision the Alpha those was of again are and two was ton, import of B to the of ton, potential per per at believes metric zero well of per many $XXX the impact while East coal High-Vol index reversal was the East that in changes A allow regardless East of policy, XXst, U.S. a positioned as the approach. Australian

never in XXXX, manufacturing not tons into on if counting we X As catalyst will it sold Metallurgical broadly. in growth, a us, been roughly serve China has engages plans. industry the Certainly, a opportunistically coal China industrial market alpha business key our that China for as coal are million in positive significant for and for of but and future

approach our economists suggesting opposed closely confident some investment. hench that as the [Indiscernible] infrastructure about of outcome. kind growth remain of but some that it among with may regardless we more in speculation to services undertake is on there However, China may

off the API index last fourth has per ended and ton, where at $XXX.XX the of XXXX $XXX.XX to the this been the from The February I $XXX.XX down lower XXst. index year. the with per quarter comment at market first two highs XXth. softening with coal very at metric XXXX significantly very started about a quick on pricing through has of I has late. of trend fallen continued December thermal as usually will which close year significantly Turning metric of good performance, do months rail ton of as The

recent look efforts to pre partners. to which labor weeks, with We seen has positive the shortages, railroad performance collaboration and railroads close the levels we appear of Alpha or to address at continued be resolved. in largely their our appreciate forward to pandemic

operator, ready open to for are now that with call we the And questions.

Operator

[Operator comes Pipes Instructions] First with question Riley Securities. from Lucas B.

Lucas Pipes

much, very operator, you Thank morning, and good everyone.

First off, the for do think Thunder, well. your it share name rolling like I be as and repurchase a good I program would name

question more into my really the Thank this. So, bucket, inflation, put the very be little structural put you could in of bit first what bit could comment you into labor, structural, on more a what a but perspective you I is would example, bucket? would cost terms on you cyclical appreciate your for much. assume would

Andy Eidson

it's Lucas, is on program, label going Andy. we're a stick good. pretty that And do if Hey the to love idea I your repurchase

rather for in come have and like we end takes It much may throw seem until a we how labor be through flush cyclicality. makes sticky long a feel a bit. in down too market that side bit at The for perspective, the to a as we're to challenging extra do to let cost us. then they comes stick do color, the such while of both around. far to Again, that it and tail from off Naturally, things regard and think I'll the any it the always constraints. cost as area I Jason labor supplies -- there little

seeing as to is I sales we're outside we'll we're term, helpful on what now, not expecting But the is a the that the see related, it structure have far where So view is. being volatility markets and the feels static planning. the of near as like kind wait of just just cost right Again, it go. But for kind really for obviously. think, of cost

add? want you to Jason, anything But

Jason Whitehead

I No, well said mean, Andy.

spoke primary I in about. our to for than things driver parts things think be more availability. reduce be of costs past. we those acquisitions the streamline secondly, then really finding we'll was And are let that and clear, transportation me they've acquisitions done do and the been we looking efficiently that, And new opportunities to with

reporting out in So, look future. on to forward that the

Lucas Pipes

little but acquisition for hear lung, when leads obviously I the I also space, scale benefits make then, hear that? a case you bonding your on perspective into level or the more curious for And already, of scale requirements does comments to And on this the and side bit for higher your this about example, a black get the have in M&A equipment question. tremendous

Andy Eidson

really where to we've to particularly a Yeah, sector's think valued is consolidation for hard years as few I this market. currently currently make the value sense. The way does by related problem are we now structured, been about how talking the just each the other it's

pricing EBITDA apply that So, if seems you on sub extremely you look to spot probably at you're looking two and times current years, four something and at that Alpha for cheap. just

open potential you current but synergies we stock. will main a obviously generally always door risk. that at on we're of approach to have which is think by compare we really difficult to levels. so to and it's just, integration more offset justify we're we're It's is off be naturally, Any on economics I have I M&A any for these focused to speaking, things, always M&A, I I bolt said think acquiring mean, acquisition right sizable now doing transactions, smaller -- scale And before the think

Lucas Pipes

What would a that those the to at final at back garner the today's a it XX% mine provide over maybe breakdown? tons of question, you to I that prices? missed then you it. just gate Maybe coal is And bow sold left and expect quality I'll still turn on market put with be could MET

Andy Eidson

the uncommitted about you or were Lucas, UNC Sorry, asking

Lucas Pipes

Correct, yeah.

you have XX% committed. I think So

that the the XX% So, are uncommitted.

Andy Eidson

so here, that Dan some color guesses ball today, we as but making let impossible. crystal locked with I'll Yeah, unfortunately, throw we've virtually on the up

of a spread more what the quality speaking, speak versus I'll too booked. not let what much Dan generally we've think, of differential to don't have we we've But that. I booked among probably

Dan Horn

tons Good spectrum, some place. the the we mid morning, that, of Lucas. say I'd balls, quality those to our find ball, opportunities. high across We'll still have

Some locked of Western our for in have lot up term of a of customers a I flowing making. Russian more market, past, I'll Europe comment the That's that. will business in Europe. due larger to they steel especially say the into make the on that have than unavailability coals

So, the good including our rest into Europe we see demand coals, year. for highballs the of

of then a many And rest who at cadence it, we quarter regular customers well, have there. the just a roll buy out and a on time

through So, sell ship can as we'll regularly year. the those and you pretty as do tons, the math can. And I well

the take Today's and at of you the you to back saying XXX sit about back what asked today range that I'm XXX coal, every the the today. we'll where that's not achieve that's on if you to mine, price go but in today. they You the pricing, you're indices mine. ton

Operator

Vitanza with Company. Lance & question Our from Cowen is next

Unidentified Analyst

output the first question the in met four Lance. on My or your second is all this you for and delivery XX% given [Indiscernible] quarters? is share the is first already the that largely spread throughout year, set for is if do year for of expected quarter of priced,

Andy Eidson

through rateable is portion the domestic year. the Well,

above. literally some more Some of the rateable contracts and front all a loaded. through are end year, It's are our the little

Unidentified Analyst

something given just this forward? during quarter? is get fourth you incentives bit Was the presented the Or the challenges incentive Can Alright. mind Okay. per -- that the that were we discussion this ton Xx in the occurrence for to $X can going expect a a employees?

Andy Eidson

and appropriate we're of combine Yes. in. back And step some the something these the This environment look again, bonuses. that had team staffing where that that grant was with we at management living had as year felt and it a to to we

amount we're some things There if of discretion portion of to that seems time excited of do. of be year like that quality tremendous employees Now utilized, it have marketplace is a the to high work shows to part seems thing to the to one think we also of that the more but record a you performance standard good I where this program. it's to honest. pay giving much a the are these find when those that effort and just right them employees, be for also reward for and the just of just And to helpful to employees, was some very

Unidentified Analyst

That's Agreed. Yes. strategy. Great. a good

this of going the first we CapEx, year? should going like to in first of to terms quarter highest carry in ‘XX, primarily In expect be over the and be the is spent that's the into therefore CapEx the quarter

Andy Eidson

unclogged. it'll think radical I No, this have chains end because being year up probably, pretty it again, the not throughout I supply generally, think probably completely

original And may sliding so, some of our XXXX plans for also start into ‘XX.

speaking, rebuilds whatever generally be. items case of and the broad it's kind different of mix or may a So of equipment or

it's in -- There's in know. highly it don't I unlikely highly, So, hits QX really or half. the first

a of peanut think be spread. kind it'll I butter

Unidentified Analyst

Rolling Thunder, you? come tons but to, that to process, last we know mine for on annual an how in many -- me, from for additional mine is out I still the can that one the to expect And basis

Jason Whitehead

other on. the that. real really some year a this of a summer sustaining the ability said, starting for operations million year range. Well, Hey, for we is XXX,XXX can would say and ton as we with it's And and on, this about be capacity development more the to in Jason mine's south expect mine we take plan that this I'll this you I bolt taking tons know, cuts in and year,

Unidentified Analyst

XXX,XXX? And XXX, -- then expected that

Jason Whitehead

Yes.

Unidentified Analyst

off? on that something Is that can is the into guidance or top be baked that -- already

Jason Whitehead

it's it guidance year Yeah, its it's stride I and this really for said, in hits the like in XXXX.

Operator

Benchmark Martin Company. [Operator Instructions] Our Nathan next with is question The from

Nathan Martin

again, going in just on quality Thunder other mine, caller the Rolling product real said you or just appreciate to product quick think between? B A Is be somewhere I you Jason, or an quality -- that gave.

Jason Whitehead

cold. a got and B Yeah, mean, It's good it's I good coke a good properties. Nate, Cole. it's

Nathan Martin

the back the And couple we've to up the to segment maintained met that there target obviously that cost then months. time for before XXX, cost and guidance come XXX, last run side, wanted at out prices guys seen put you

an idea any us of what kind So the would range? MET assumed of prices that be to have And if in you if you give sensitivity just curious you price that great. then MET

Andy Eidson

there, of that in that I of XXX put head or figure my going. at Yeah, was XXX point that we were off range, was something you where current top out that ballpark the ‘XX typically thought we where the going to don't was probably, throw don't but in it we recall kind for time I the about of strip don't where can maybe using the math strip future that but know, kind ish, the out. POV. was inform guidance that Aussie time, We

the continues from market are other impact that related direct that seeing some we're see the sales of degree But throughout may some that to and the mentioned, of published. the the improvements at along seeing if as adjustments this from improvements we with as market as Jason some holds, point range mines offset naturally, some that. we're at with year, costs to number And the still was but will we productivity comfortable this that portions it

Nathan Martin

there a first a of to ramp quarter still we expect of quarter fourth this rate of It to time kind cadence would improve quarter be here more run quarter should the get logistics great the we normal kind will to Or those guys challenges? some through as I things of from shipments hopefully you as year. on also mean, quarters thoughts improve? in be move the up to

me remind given believe. the thermal also well how as to mine can't shipments you the I slab think timing could maybe then due about other out, to And of

Dan Horn

burn -- year. the cadence answer let this, the generally ratable shoulder first. as Nothing I'll be Met bit unusual months thermal usual. say come little through should year. be due to fairly one summer with months will in through but the go will again, to shipment on the any Shouldn't down in the there, a me it cadence, up roundtable earlier, the and the flat last and regard domestic well, be the The mentioned

rateable. of Seaborn, some relighting going begin the in is that believe are -- there, in some next probably India until doesn't markets. lake kind We'll the Certainly, And higher should growth continue over see far so we domestic here as be worst the contract months. generally steel have least and there. We little opens we'll other have April, under we've hopefully the as a that it'll coals it that will to business continued furnaces see today the us through uptick at we making the We several -- in that feel behind year. blast here season

Nathan Martin

Dan. comments constraints Appreciate one, Great. then final industry. maybe couple And mentions within labor just there, of the those one

force? your or Do you are getting kind grow feel necessitate going confident to or your this overtime GMs current get with labor to mean, be guys just your those additional expecting You levels of any crews great I to thoughts? you production year. would to

Jason Whitehead

This is Jason.

improved, into I less guess talked march initiated, our ago. we months program say. we faces smaller that maintain, continue some in things and as mines fresh We where take I shape of like have XX are would about are I have think, to retiring And larger in industry. long we And to about moderately and that generally bring been. transition, new good pretty the we those that trainee we've also relative I operations are we're into feel that brand that employees and frankly to new tooth, kind the

Operator

We the for the remarks. over of I session. question-and-answer to have Andy reached now will turn the call closing Eidson end

Andy Eidson

in in the call. has We everyone Thank you, interest or logged online great day. a everyone appreciate operator, who for your hope we and dialed and thanks to

Operator

conference. This concludes today's

disconnect at thank your we this you and participation. time, may You lines your for

Alpha Metallurgical Resources (AMR) 23 Feb 232022 Q4 Earnings call transcript