Arch Coal, Inc. (ACI) Reports 200% Increase in Second Quarter Net Income, Raises Guidance
Arch Coal, Inc. (ACI), a leading U.S. producer of steam and metallurgical coal, with interests in Appalachia, the Powder River Basin and the Western Bituminous region, reported better than expected second quarter results this morning. Net income surged 200% year-over-year to $113.0 million, or 78 cents per share, on revenues of $785.1 million, a 31% increase over the same period. Analysts who cover the firm expected earnings of 64 cents per share on $737.1 million in revenues. "Arch delivered another strong earnings performance in the second quarter, achieving a three-fold increase in net income and earnings per share," said Steven…