ARCH - Why Coal Mining Company Arch Resources' Shares Are Diving Today? | Benzinga
Arch Resources Inc (NYSE: ARCH) shares are trading lower by around 13% after the company provided weak Q3 guidance and revised FY23 outlook.
Q3 Update: The company expects Q3 coking coal sales volumes to remain at par with Q2, on ongoing challenges mining in the first longwall district at its Leer South Mine.
Notably, Leer South Mine has generated segment-level adjusted EBITDA of about $470 million since its startup vs. an initial capital investment of about $400 million.
FY23 Outlook: Arch revised guidance for ...