Alexis Tate

Of the nine analysts covering Cloud Peak Energy (CLD), seven analysts rated its stock as a “hold,” and two gave CLD a “buy” or “strong buy” rating.

In 3Q15, Peabody Energy (BTU) reported $1.42 billion in revenues. Analysts anticipate that it will post $1.46 billion in 3Q17 compared to $1.26 billion in 2Q17.

Canadian Solar’s revenues from the sale of electricity in 3Q17 totaled $9.6 million, which was marginally lower than $9.8 million in 2Q17.

Arch Coal’s leverage On June 30, 2017, the book value of Arch Coal’s (ARCH) long-term debt was about $315.6 million, of which ~$297 million is due for payment in 2024. Arch Coal’s leverage, which is its net debt divided by EBITDA (earnings before interest, tax, depreciation, and amortization), has increased since the acquisition of International […]

Clients and their sectors KBR (KBR) has a diverse customer base. According to KBR, its customers are “domestic and foreign governments, international and national oil and gas companies, independent refiners, petrochemical producers, fertilizer producers and manufacturers.” Revenue from overseas operations represented 63%, 57%, and 51% of KBR’s total revenue in 2014, 2015, and 2016, respectively. In this part, we’ll look at […]

As of December 31, 2016, Alliance Resource Partners was being managed by its MGP, which is 100% owned, directly and indirectly, by AGHP.

1H17 in review Majority of the coal (KOL) stocks began 2017 on a weak note. The stocks have not been able to recoup from the slump until now. They have been outperformed by the broader market and the VanEck Vectors Coal ETF so far in 2017. On September 19, 2017, Arch Coal (ARCH) has fallen […]

Powder River Basin coal settled at $11.75 per short ton, while Illinois Basin spot coal prices closed at $32.60 per short ton.

Westmoreland’s Canadian operations Westmoreland Coal (WLB) acquired seven surface mines in Alberta and Saskatchewan, a stake in an activated carbon plant, and a char plant in Canada from Sherritt International in 2014. As of January 1, 2016, WLB’s Canadian operations are grouped as one entity, Prairie Mines & Royalty ULC. Its Canadian operations hold total […]

Alliance Resource Partners (ARLP) operates eight underground mining complexes in two regions: Illinois and Appalachia.

During the week ended November 10, 2017, PRB coal closed at $12.10 per short ton, which was ~3% higher than $11.75 per short ton that coal maintained for the past five weeks.

On December 21, the EIA released the estimate of the coal volumes produced in the US for the week ending December 16.

In the EIA’s STEO report, it predicted that the Henry Hub natural gas benchmark price would average $3.12 per MMBtu in 2018.

KBR has an assorted mix of business portfolios, which helps it combat cyclicality associated with any single market.

KBR (KBR), headquartered in Houston, Texas, is a comprehensive professional service and technology provider.

Business segments KBR’s (KBR) business is classified into three core segments (government services, technology and consulting, and engineering and construction) and two non-core segments (non-strategic business and other business). Government services The government service segment’s primary focus is providing support solutions to US, UK, and Australian government agencies. According to KBR’s Form 10-K, the segment offers “full […]

Primary subsidiaries Previously, we discussed various acquisitions completed by KBR (KBR). Let’s now take a look at some of KBR’s subsidiaries and how they fit into the big picture for the company. Energy and construction Granherne, a KBR technology and engineering subsidiary, operates in the oil and gas industry. Granherne provides front-end engineering and design services […]

In this series, we’ll analyze Chicago Bridge & Iron’s (CBI) business model. We’ll explore how it has expanded its business and evaluate its key operational metrics and financial position.

Vivint Solar (VSLR) reported a cost per watt of $2.94 for 3Q17, higher than the $2.88 it reported in 2Q17 and $3.85 in 3Q16.

SunPower (SPWR) reports its revenue under the power plant, residential, and commercial segments. The latter two segments are together called the distributed generation segments.

On October 13, 2017, Brent crude oil prices settled at $57.17 per barrel, 3% higher than $55.60 reported during the previous week.

On October 16, the November US natural gas futures contract price was reported as $2.95 per MMBtu.

A yieldco is an investment vehicle formed by a parent company to own operating assets. They’re expected to generate stable cash flows.

On September 29, 2017, Brent crude oil prices closed at $57.54 per barrel compared to $56.86 the previous week.

First Solar (FSLR) produces solar energy equipment. In this series, we’ll look at its performance and the outlook for the industry.

High customer concentration In 2016, First Solar (FSLR) sold solar modules to customers in the United States, India, and the United Arab Emirates. Approximately 23% of its total revenue was from third-party module sales. The majority of First Solar’s customer base is in the United States, which makes up to more than 80% of total […]

India’s rising electricity demand According to the EIA’s (U.S. Energy Information Administration) 2017 International Energy Outlook, India’s electricity generation is expected to increase by 3.2% per year through 2040, to meet increasing electricity demand in rural areas. Solar outlook Even though coal is the primary fuel used for electricity generation in India, the focus on renewable […]

The Americas The US PV (photovoltaic) market made up ~83% ($2.9 billion) of First Solar’s (FSLR) revenue. The United States has typically been First Solar’s largest market, and where many of its prominent projects and customers are located. First Solar has completed the construction of Del Sur, a 26 MW (megawatt) solar project in Honduras. It commenced […]

Operating segments Previously, we looked at First Solar’s (FSLR) history. The photovoltaic module manufacturer operates two business segments: Components and Systems. The Components segment First Solar is a manufacturer of solar (TAN) photovoltaic (or PV) modules. First Solar also designs and sells these modules. They manufacture thin-film PVs, in which the semiconductor material used is […]

Commodity price risk Arch Coal (ARCH) has long-term coal supply agreements for their non-trading, thermal coal sales, hence managing commodity risk for thermal coal and also to a limited extent, through the use of derivative instruments. However, sales commitments in the metallurgical coal market are typically not long-term in nature and are subject to fluctuations […]

In this series, we’ll analyze Westmoreland Coal’s (WLB) business model. We’ll explore how the company has expanded its business, and evaluate its key operational metrics and financial position.