Revenue has contracted significantly to $525.0M in 2026Q1, while gross margins have compressed to a nominal 0.9% from a 25.0% peak in 2023Q4.
| Sales/Revenue | 2.12B | 2.13B | 2.96B | 3.47B | 4.1B | 2.26B | 1.42B | 2B | 2.03B | 1.65B | 917.41M | 926.02M |
| Revenue Growth % | -19.15% | -27.99% | -14.81% | -15.36% | 81.59% | 59.49% | -29.24% | -1.47% | 23.11% | 79.85% | -0.93% | - |
| Cost of Goods Sold | 2.09B | 2.13B | 2.63B | 2.5B | 2.41B | 1.8B | 1.43B | 1.88B | 1.73B | 1.43B | 919.39M | 979.47M |
| COGS % of Revenue | - | 99.87% | 88.79% | 72.06% | 58.83% | 79.74% | 100.98% | 93.96% | 85.33% | 86.79% | 100.22% | 105.77% |
| Gross Profit | 36.3M | 2.71M | 331.65M | 969.89M | 1.69B | 457.61M | -13.92M | 120.94M | 297.93M | 217.99M | -1.99M | -53.45M |
| Gross Margin % | 1.71% | 0.13% | 11.21% | 27.94% | 41.17% | 20.26% | -0.98% | 6.04% | 14.67% | 13.21% | -0.22% | -5.77% |
| Gross Profit Growth % | - | -99.18% | -65.81% | -42.56% | 268.98% | 3386.74% | -111.51% | -59.41% | 36.67% | 11070.81% | 96.28% | - |
| Operating Expenses | 67.93M | 64.08M | 103.8M | 106.8M | 107.63M | 98.41M | 156.76M | 290.05M | 52.93M | 67.64M | 48.7M | 44.06M |
| OpEx % of Revenue | - | 3.01% | 3.51% | 3.08% | 2.62% | 4.36% | 11.07% | 14.49% | 2.61% | 4.1% | 5.31% | 4.76% |
| Selling, General & Admin | 61.33M | 60.16M | 74M | 82.39M | 71.62M | 63.9M | 57.36M | 78.95M | 59.27M | 67.46M | 48.7M | 44.16M |
| SG&A % of Revenue | - | 2.83% | 2.5% | 2.37% | 1.75% | 2.83% | 4.05% | 3.95% | 2.92% | 4.09% | 5.31% | 4.77% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1.47M | 3.92M | 29.8M | 24.41M | 36.01M | 34.51M | 99.41M | 211.09M | -1.25M | 0 | 0 | -85K |
| Operating Income | -31.62M | -61.37M | 227.85M | 863.09M | 1.58B | 359.2M | -170.69M | -169.1M | 193.76M | 181.53M | -50.69M | -394.93M |
| Operating Margin % | -1.49% | -2.88% | 7.7% | 24.86% | 38.54% | 15.9% | -12.05% | -8.45% | 9.54% | 11% | -5.53% | -42.65% |
| Operating Income Growth % | - | -126.93% | -73.6% | -45.4% | 340.11% | 310.44% | -0.94% | -187.27% | 6.74% | 458.11% | 87.16% | - |
| EBITDA | 160.09M | 140.71M | 401.88M | 1.03B | 1.71B | 482.49M | -9.16M | 145.97M | 275.88M | 285.38M | 117.45M | -190.59M |
| EBITDA Margin % | 7.54% | 6.61% | 13.59% | 29.79% | 41.64% | 21.36% | -0.65% | 7.29% | 13.58% | 17.3% | 12.8% | -20.58% |
| EBITDA Growth % | -28.12% | -64.99% | -61.13% | -39.46% | 254% | 5368.52% | -106.27% | -47.09% | -3.33% | 142.98% | 161.62% | - |
| D&A (Non-Cash Add-back) | 191.71M | 202.08M | 174.03M | 170.89M | 127.12M | 123.29M | 161.53M | 315.07M | 82.12M | 103.85M | 168.14M | 204.34M |
| EBIT | -50.25M | -84.44M | 214.56M | 852.38M | 1.58B | 361.85M | -169.11M | -205.38M | 176.3M | 141.73M | -94.69M | -412.81M |
| Net Interest Income | 12.53M | 12.45M | 14.4M | 5.01M | -18.61M | -69.32M | -67.5M | -60.27M | -36.86M | -35.77M | 0 | -24K |
| Interest Income | 15.63M | 15.47M | 18.21M | 11.93M | 3.19M | 336K | 7.03M | 7.25M | 1.95M | 210K | 20.46M | 4K |
| Interest Expense | 3.1M | 3.02M | 3.81M | 6.92M | 21.8M | 69.65M | 74.53M | 67.52M | 38.81M | 35.98M | 0 | 28K |
| Other Income/Expense | -26.81M | -26.09M | -17.1M | -17.63M | -26.13M | -67M | -72.95M | -103.8M | -56.27M | -76.6M | -64.5M | -17.91M |
| Pretax Income | -58.43M | -87.46M | 210.75M | 845.46M | 1.55B | 292.2M | -243.63M | -272.9M | 137.49M | 105.76M | -115.19M | -412.84M |
| Pretax Margin % | -2.75% | -4.11% | 7.13% | 24.35% | 37.91% | 12.94% | -17.2% | -13.64% | 6.77% | 6.41% | -12.56% | -44.58% |
| Income Tax | -19.66M | -25.77M | 23.17M | 123.5M | 106.2M | 3.41M | -2.16M | -53.29M | -165.36M | -67.98M | -41.8M | -155.05M |
| Effective Tax Rate % | 33.65% | 29.47% | 10.99% | 14.61% | 6.83% | 1.17% | 0.89% | 19.53% | -120.27% | -64.28% | 36.29% | 37.56% |
| Net Income | -38.77M | -61.69M | 187.58M | 721.96M | 1.45B | 288.79M | -446.9M | -316.32M | 299.17M | 154.52M | -78.14M | -417.56M |
| Net Margin % | -1.83% | -2.9% | 6.34% | 20.8% | 35.32% | 12.79% | -31.56% | -15.81% | 14.73% | 9.37% | -8.52% | -45.09% |
| Net Income Growth % | -245.56% | -132.89% | -74.02% | -50.16% | 401.59% | 164.62% | -41.28% | -205.73% | 93.61% | 297.75% | 81.29% | - |
| Net Income (Continuing) | -38.77M | -61.69M | 187.58M | 721.96M | 1.45B | 288.79M | -241.47M | -219.62M | 302.85M | 173.74M | -73.39M | -257.79M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 1.86M | -205.43M | -96.7M | 0 | 0 | -4.75M | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -3.03 | -4.75 | 14.28 | 49.30 | 79.49 | 15.30 | -24.42 | -10.80 | 25.54 | 14.35 | -7.58 | -13.77 |
| EPS Growth % | -249.01% | -133.26% | -71.03% | -37.98% | 419.54% | 162.65% | -126.11% | -142.29% | 77.98% | 289.31% | 44.95% | - |
| EPS (Basic) | - | -4.75 | 14.41 | 51.18 | 82.82 | 15.66 | -24.42 | -10.80 | 25.55 | 15.12 | -7.58 | -13.77 |
| Diluted Shares Outstanding | 12.8M | 13M | 13.06M | 14.64M | 18.22M | 18.87M | 18.3M | 18.81M | 11.71M | 10.77M | 10.31M | 30.33M |
| Basic Shares Outstanding | 12.8M | 13M | 13.02M | 14.11M | 17.49M | 18.44M | 18.3M | 18.81M | 11.71M | 10.22M | 10.31M | 30.33M |
| Dividend Payout Ratio | - | - | 1.64% | 15.65% | 0.92% | - | - | - | - | 65.19% | - | - |
Cyclical Commodity Price Exposure
As indicated by the most recent quarterly data, AMR has experienced a sustained period of top-line erosion, with revenue falling from $960.0M in 2023Q4 to $525.0M in 2026Q1, representing a significant contraction driven by the cooling global demand for metallurgical coal used in steel production.
The consistent quarter-over-quarter decline suggests that the company is struggling to maintain pricing power in a market where global steelmaking activity has softened. Investors should monitor whether this downward trajectory reflects a structural shift in export demand or merely a temporary cyclical trough in the commodity price cycle.
Based on reported financial statements, AMR's gross margin has deteriorated sharply to a nominal 0.9% in 2026Q1, down from a peak of 25.0% in 2023Q4, highlighting the company's extreme sensitivity to the spread between realized coal prices and its relatively static, high-cost underground mining operations.
The current margin profile leaves virtually no room for operational error, suggesting that the company is operating near its cash-cost breakeven point. This lack of buffer implies that any further inflationary pressure on labor or mining consumables could push the company into deeper, more persistent operating losses.
According to recent income statement filings, AMR's operating income has swung from a robust $213.3M in 2023Q4 to a loss of $10.4M in 2026Q1, demonstrating that the company's fixed-cost structure is failing to scale efficiently as revenue volumes and realized prices continue to decline.
The transition to negative operating margins indicates that the company's overhead and production costs are not sufficiently variable to match the current revenue contraction. This suggests that management may face significant challenges in rightsizing the cost base without compromising the long-term integrity of its mining assets.
While the company maintains a strong balance sheet with minimal debt, the consistent net losses reported over the last several quarters, including a $11.0M net loss in 2026Q1, raise questions regarding how long the current cash reserves can support operations during a prolonged industry downturn.
Short-sellers may focus on the potential for rapid cash depletion if the current negative operating environment persists for several more quarters. Investors should investigate whether the company's capital allocation strategy, which previously prioritized share repurchases, has left sufficient liquidity to navigate a multi-year commodity price depression.
Quick answers to the most common questions about buying AMR stock.
For fiscal year 2025, Alpha Metallurgical Resources, Inc. (AMR) reported total revenue of $2.13B. This represents a 130.0% increase compared to $926.0M in 2015.
Alpha Metallurgical Resources, Inc. (AMR) reported a net loss of $61.7M for the fiscal year ending 2025.
Alpha Metallurgical Resources, Inc. (AMR) reported an operating income of $-61.4M, resulting in an operating profit margin of -2.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Alpha Metallurgical Resources, Inc. (AMR) generated $2.7M in gross profit for the year, representing a gross profit margin of 0.1%. This demonstrates the company's core pricing power and production efficiency.