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An Investor’s Guide to Arch Coal

PART:
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An Investor’s Guide to Arch Coal PART 1 OF 12

Arch Coal: Covering the East and the West

Introduction

In the last several weeks, we have covered American coal producers (KOL) such as Alliance Resource Partners (ARLP), Westmoreland Coal Company (WLB), and Cloud Peak Energy (CLD). We’ve examined the challenges faced by these producers, as well as how they have positioned themselves to face these challenges based on their operational regions and their financial condition. In this series, we’ll take a look at Arch Coal (ARCH).

Arch Coal: Covering the East and the West

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Arch Coal

Arch Coal (ARCH) is a diversified coal mining and processing company in the US. The company was formed in 1969 as Arch Mineral Corporation. The firm went public on August 19, 1988, under the symbol ACI.

ARCH produces high-quality metallurgical coal in the Appalachia region. This metallurgical coal is sold on the global steel market. Arch Coal also produces highly cost-competitive thermal coal in the Powder River Basin region. This thermal coal is sold to domestic and international power generation markets. Arch Coal is America’s second-largest producer of thermal coal.

Arch Coal has mines in Colorado, Illinois, Kentucky, West Virginia, Wyoming, and Virginia. On December 31, 2016, Arch Coal operated 12 underground and surface mines. Coal from these mines is transported to customers via railroads, trucks, barge lines, and ocean‑going vessels from terminal facilities. Arch Coal sold 96 million tons of coal in 2016, meeting ~13% of the coal supply in the US.

Bankruptcy

Arch Coal (ARCH) filed for Chapter 11 bankruptcy on January 11, 2016. While filing for bankruptcy, the company reported debt of ~$5.0 billion. In October 2016, the company emerged from bankruptcy, and it trades on the New York Stock Exchange (or NYSE).

In the next part, we’ll look into the details of Arch Coal’s bankruptcy.

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