Alpha Metallurgical Resources, Inc. (AMR) FY2025 10-K Annual Report

Filed: Feb 27, 2026
Energy
Bituminous Coal & Lignite Surface MiningSEC EDGAR

Alpha Metallurgical Resources, Inc. (AMR) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 27, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

Alpha Metallurgical Resources, Inc. FY2025 10-K Analysis

Business Overview

  • Core business model: Ownership and control of marketable proven and probable bituminous coal reserves and resources
  • New emphasis on updated coal reserve estimates totaling 294.5 million tons proven and probable, verified by independent engineer Marshall Miller
  • Strategic focus on detailed classification of reserves by mining complex, coal quality, and permit status with comprehensive technical reporting
  • Notable quantitative metric: Total coal reserves 294.5 million tons; total coal resources 522.6 million tons as of December 31, 2025
  • Unique this year: Use of 10-year and 3-year average forecasted pricing for reserve valuation and extensive, property-specific geological and economic analyses incorporated

Management Discussion & Analysis

  • Diesel fuel purchase approx. 22.0 million gallons in 2026 at market rates; impacts cost structure
  • No borrowings on $225.0 million senior secured credit facility as of Dec 31, 2025 and 2024
  • Trading securities investments $83.9M in 2025 vs $43.1M in 2024, mainly short-term U.S. government debt
  • Forex risk low as sales in U.S. dollars; potential adverse impact from foreign currency fluctuations on competitiveness
  • Interest rate risk managed by short-term debt securities; no material exposure expected in financial statements

Risk Factors

  • Regulatory risk from coal export terminal ownership, 65% stake in DTA terminal in Newport News, Virginia, subject to port and environmental regulations
  • Geopolitical exposure: 73% of coal revenues from international markets, including Asia and Europe, impacted by tariffs, trade negotiations, and steel demand shifts
  • Operational risk: Flooding in Queensland, Australia during Dec 2025-Jan 2026 disrupted supply, causing Australian met coal price volatility affecting global benchmarks
  • Competitive risk from U.S. High-Vol. met coal producers increasing output, pressuring prices and causing Alpha to idle multiple mines in 2025
  • Financial risk: Long-term debt $9.8M plus $41.3M letters of credit under ABL Facility, liquidity dependent on volatile coal prices and export sales commitments

Alpha Metallurgical Resources, Inc. FY2025 Key Financial Metrics
XBRL

Revenue

$2.1B

-28.0% YoY

Net Income

-$62M

-132.9% YoY

Operating Margin

-2.9%

-1062bp YoY

Net Margin

-2.9%

-927bp YoY

ROE

-4.0%

-1536bp YoY

Total Assets

$2.3B

-6.5% YoY

EPS (Diluted)

$-4.75

-133.3% YoY

Operating Cash Flow

$145M

-75.0% YoY

Source: XBRL data from Alpha Metallurgical Resources, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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