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News Breaks
July 8, 2014
09:44 EDTWLTWalter Energy reports preliminary Q2 metallurgical coal production 2.5M mt
Walter Energy disclosed in a regulatory filing earlier that its preliminary metallurgical coal production for Q2, including both hard coking coal and low-volatility pulverized coal injection product, was 2.5M metric tons, comprised of 2.0M and 0.5M metric tons produced within its U.S. operations and Canadian and U.K. operations, respectively. Preliminary metallurgical coal sales for Q2, including both HCC and low-vol PCI, was 2.7M metric tons, comprised of 2.0M and 0.7M metric tons sold within its U.S. operations and Canadian and U.K. operations, respectively. Walter added that in April it began idling its Canadian operations, including the Wolverine and Brazion coal mines in British Columbia, having placed the Wolverine mine on idle status in April and the Brazion operations on idle status in June. The company incurred severance charges of approximately $7M in Q2 in connection with the idling of these mines. Walter Energy added: "Effective June 27, Maple Leaf Loading Ltd., the firm which transports coal from the idled Brule Mine to our processing plant via the Falling Creek Connector Road, announced that it had been placed into receivership by its creditors. As a result, we are currently identifying alternatives to the services previously provided by Maple Leaf." Also, Walter noted that in June the company experienced difficult geological conditions at Mine No. 7 which adversely affected production. "The impact on production was less than 100,000 metric tons, and there was no impact on sales. We believe these geological issues have been resolved and still expect the Company’s full-year 2014 metallurgical coal production to total between 9.0 and 10.0 million metric tons," Walter stated.
News For WLT From The Last 14 Days
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October 30, 2014
09:14 EDTWLTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Visa (V), up 4%... MasterCard (MA), up 2.5%... Alcatel-Lucent (ALU), up 12.5%... TASER (TASR), up 4%... JDSU (JDSU), up 3.8%... Radian Group (RDN), up 9%... DreamWorks Animation (DWA), up 1.7%... Take-Two (TTWO), up 7.7%. ALSO HIGHER: Grand Canyon (LOPE), up 10.5%, upgraded at Piper Jaffray after the company formed a committee to explore conversion to a nonprofit entity... Walter Energy (WLT), up 6.8% after lowering FY14 capital expenditures view, reporting lower than expected losses... Novavax (NVAX), up 7% after getting fast track designation for H7N9 VLP. DOWN AFTER EARNINGS: Glu Mobile (GLUU), down 16.6%... Alliance Fiber Optic (AFOP), down 18.4%... Pacira (PCRX), down 6.4%. ALSO LOWER: Sturm, Ruger (RGR), down 10% following Q3 results, cutting Q3 dividend. Peer gunmaker Smith & Wesson (SWHC) also down 3.7% after Ruger's report... Western Gas Partners (WES), down 4.4% after its 7.5M common units spot secondary priced at $70.85... ACCO Brands (ACCO), down 1.1%, downgraded at KeyBanc following the company's Q3 results... Fiat Chrysler (FCAU), down 1.1% after reported to be recalling over 300K Ram trucks due to fire concern... Inogen (INGN), down 2.3% after 2.1M share secondary offering of common stock priced at $21.50.
08:25 EDTWLTWalter Energy reports end Q3 liquidity $623.9M
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07:42 EDTWLTWalter Energy sees FY14 met coal production 9.5 MMTs, lowers capex view
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07:40 EDTWLTWalter Energy reports Q3 met coal sales volumes 2.3 MMTs
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07:39 EDTWLTWalter Energy reports Q3 adjusted EPS ($1.58), consensus ($1.63)
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October 28, 2014
10:45 EDTWLTCONSOL rises after acknowledging long-term thermal coal MLP opportunity
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