March 15, 2019 Read More →

Cloud Peak: 2018 coal sales down, net losses up

S&P Global Market Intelligence ($):

Cloud Peak Energy Inc. on March 15 reported full-year 2018 net loss of $718.0 million, or $9.49 per share, compared to a loss of $6.6 million, or 9 cents per share, in 2017.

Cloud Peak reported sales of 49.7 million tons of coal at an average realized sales price of $12.11 per ton, compared to 57.8 million tons of coal at an average realized sales price of $12.17 per ton in 2017.

2018 revenue amounted to $832.4 million, declining from $887.7 million in 2017. Adjusted EBITDA totaled $67.3 million, down from $104.9 million a year ago.

Cloud Peak noted that production issues are still ongoing at their Antelope mine, due to weather-related spoil failures after heavy rains in 2018. Export prices also “declined significantly” for the company’s logistics business in the fourth quarter of 2018.

More: Cloud Peak widens full-year 2018 loss as weather-related mine issues continue

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