Thursday, January 13, 2011

Arch Coal (NYSE:ACI) Falls on Downward Earnings Revision

Shares of Arch Coal dropped on the announcement they're downwardly adjusting their full year EPS guidance for 2010.

The new earnings outlook is for a range of $1.11 to $1.15 a share, significantly down from their prior estimate of $1.25 to $1.40 a share. The consensus on 2010 EPS for Arch Coal is $1.17.

Arch's chairman and chief executive officer, Steven F. Leer said, "Lower shipment levels, partially driven by poor Eastern rail service, contributed to the guidance revision for 2010. In addition, the Mountain Laurel operation was impacted in December by geologic challenges, which marginally affected our planned production during the quarter."

Arch Coal closed Wednesday at $34.13, down $1.40, or 3.94 percent.

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