Arch Coal Reduces Expectations

1 decade 4 months 3 weeks ago Monday, July 23 2007 Jul 23, 2007 Monday, July 23, 2007 2:41:57 PM CDT July 23, 2007 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
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ST. LOUIS (AP) - Arch Coal cuts its full-year forecasts for profits and production and announces lower second-quarter earnings. St. Louis-based Arch cited high inventory levels and weak pricing in saying it now expects earnings per share to range from one dollar to one dollar and 30 cents. Earlier guidance projected earnings per share in the range of one dollar and 25 cents to two dollars. Meanwhile, Arch says second-quarter profit dropped 46 percent in the second quarter. Arch Coal is one of the nation's largest coal producers, supplying fuel for about six percent of the electricity generated in the U.S. After an early decline, the company's stock rebounded and dropped three-tenths of one percent.

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