ST. LOUIS (AP) — Arch Coal Inc. says its first-quarter earnings slumped due to a weak U.S. market for coal used to generate electricity. The company says it will curtail production this year.

The results were well short of Wall Street’s expectations and shares fell in premarket trading.

In the January-March quarter, the St. Louis-based company’s net income totaled $1.2 million, or a penny a share. That compares with $55.6 million, or 34 cents a share, a year ago.

Revenue was $1.04 billion, up 19 percent from $872.9 million in the 2011 quarter.

After excluding certain one-time items, Arch reported an adjusted loss of $0.04 per diluted share in the recent quarter.

Analysts surveyed by FactSet expected 16 cents per share on revenue of $1.12 billion.

© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.


Leave a Reply

Please log in using one of these methods to post your comment:

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

More From CBS St. Louis

Download The App

Listen Live