Alpha Metallurgical Resources Provides 2026 Guidance; Forecasts 15.1M-16.5M Tons Shipments; $95–$101/Ton Coal Costs; $148M-$168M In Capital Expenditures; Range For Net Cash Interest Income Is Expected To Be $2M-$6M, While The Range For Depreciation, Depletion And Amortization Is Forecast To Be $160M-$174M

Alpha Metallurgical Resources, Inc. (NYSE:AMR), a leading U.S. supplier of metallurgical products for the steel industry, today issued guidance expectations for the 2026 calendar year.

"Upon completion of Alpha's budgeting process for the coming year, we are communicating our guidance expectations for 2026," said Andy Eidson, Alpha's chief executive officer. "While market conditions continue to appear challenging in the immediate term, we are looking ahead and finding ways to best position ourselves for strength when steel demand returns and markets improve. Alpha's 2026 guidance reflects our priorities of continuing focus on Safe Production, maintaining a close eye on efficiency and cost containment, as well as investing in the completion of our Kingston Wildcat low vol mine that will positively impact our portfolio's quality mix."

Issuance of 2026 Operational Guidance

For 2026 sales volumes, Alpha expects to ship between 14.4 million and 15.4 million metallurgical tons and an additional 0.7 million to 1.1 million tons of incidental thermal coal, for a total range of 15.1 million to 16.5 million tons for the year.

The company expects its cost of coal sales to be between $95.00 and $101.00 per ton next year. The estimated impact of the Section 45X credit (also known as the advanced manufacturing production credit) is inherent in the cost of coal sales per ton guidance.

Selling, general and administrative (SG&A) costs are expected to be between $53 million and $59 million, excluding non-recurring expenses and non-cash stock compensation. We anticipate idle operations expense to be between $24 million and $32 million. The range for net cash interest income is expected to be $2 million to $6 million, while the range for depreciation, depletion and amortization is forecast to be $160 million to $174 million.

Alpha is planning for capital expenditures between $148 million to $168 million in 2026, which includes sustaining maintenance capital as well as development capital for the completion of the Kingston Wildcat mine.

Contributions to equity affiliates are expected in the range of $35 million to $45 million, which includes both cash contributions for normal operations of Dominion Terminal Associates (DTA) as well as Alpha's share of the 2026 planned investments in DTA's facility upgrade program.

The company expects a 2026 cash tax rate of between 0% and 5%.

	2026 Guidance
in millions of tons	Low	High
Metallurgical	14.4	15.4
Thermal	0.7	1.1
Met Segment - Total Shipments	15.1	16.5
Committed/Priced1,2,3	Committed	Average Price
Metallurgical - Domestic		$136.75
Metallurgical - Export
Metallurgical Total	24 %	$136.75
Thermal	68 %	$76.25
Met Segment	27 %	$128.16
Committed/Unpriced1,3	Committed
Metallurgical Total	40 %
Thermal	— %
Met Segment	38 %
Costs per ton4	Low	High
Met Segment	$95.00	$101.00
In millions (except taxes)	Low	High
SG&A5	$53	$59
Idle Operations Expense	$24	$32
Net Cash Interest Income	$2	$6
DD&A	$160	$174
Capital Expenditures	$148	$168
Capital Contributions to Equity Affiliates6	$35	$45
Cash Tax Rate	0 %	5 %