Highlights

  • Alpha released sales volume and cost guidance for the 2026 calendar year.
  • Capital spending plans include development work at the Kingston Wildcat mine.
  • Management commentary cited near-term market challenges and longer-term positioning.

Alpha Metallurgical Resources, Inc. (NYSE:AMR) announced its operational and financial guidance for the 2026 calendar year, outlining expected shipment volumes, cost assumptions, and capital allocation priorities. The guidance was released following completion of the company’s internal budgeting process and was communicated ahead of the December 15, 2025 market session, with the announcement now fully absorbed by U.S. markets.

Management Commentary

Commenting on the outlook, Chief Executive Officer Andy Eidson said:

“Upon completion of Alpha's budgeting process for the coming year, we are communicating our guidance expectations for 2026. While market conditions continue to appear challenging in the immediate term, we are looking ahead and finding ways to best position ourselves for strength when steel demand returns and markets improve. Alpha's 2026 guidance reflects our priorities of continuing focus on Safe Production, maintaining a close eye on efficiency and cost containment, as well as investing in the completion of our Kingston Wildcat low vol mine that will positively impact our portfolio's quality mix.”

Shipment Volume Expectations

For 2026, Alpha expects metallurgical coal shipments to range between 14.4 million and 15.4 million tons. The company also anticipates shipping 0.7 million to 1.1 million tons of incidental thermal coal. Combined, total coal shipments are projected to fall within a range of 15.1 million to 16.5 million tons for the year.

Cost and Expense Outlook

The company guided for cost of coal sales between USD 95.00 and USD 101.00 per ton in 2026. The estimated impact of the Section 45X advanced manufacturing production credit is included in this range.

Selling, general, and administrative expenses are expected to total USD 53 million to USD 59 million, excluding non-recurring items and non-cash stock compensation. Idle operations expenses are forecast in a range of USD 24 million to USD 32 million. Net cash interest income is projected at USD 2 million to USD 6 million, while depreciation, depletion, and amortization is expected to range between USD 160 million and USD 174 million.

Capital Spending and Other Assumptions

Alpha plans capital expenditures of USD 148 million to USD 168 million in 2026. This includes sustaining capital and development spending related to the Kingston Wildcat mine. Contributions to equity affiliates are expected to range from USD 35 million to USD 45 million, reflecting operational funding and planned facility upgrades at Dominion Terminal Associates.

The company also expects its cash tax rate to range between 0% and 5% for the 2026 calendar year.

Shares of AMR closed at USD 185.03 on December 12 2025.