Looking to keep costs in check, Arch said it expects capital spending of roughly $350 million in 2013, below its estimated range this year of $410 million to $430 million.Arch is among many coal companies that have struggled as utilities switch to cleaner, cheaper alternatives. Arch in June announced it would lay off about 750 workers in the Kentucky, Virginia and West Virginia coalfields. Arch blamed the move on market pressures and a challenging regulatory environment that it said has pushed U.S. coal consumption to a 20-year low.
Arch Coal Reports Sharply Higher 3Q Earnings
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.