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Arch Coal reports wider 1Q loss

Published April 22, 2014 9:43 am

This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

St. Louis • Arch Coal says its first-quarter loss widened as weaker prices and demand cut into its margins.

The St. Louis-based company says it is shaving by about one million tons from its outlook for shipments of coal used in making steel, forecasting a soft global market for that form of coal.

Arch says it lost $124.1 million, or 59 cents per share, in the first three months of the year. That's up from a loss of $70.5 million, or 33 cents per share, a year ago. Its revenue slipped to $736 million from $737.3 million a year ago.

Analysts polled by FactSet expected a loss of 43 cents per share on revenue of $711.4 million.

Shares of Arch Coal fell 38 cents, or 7.8 percent, to $4.59 in morning trading Tuesday.