Walter Energy posted a loss of 55 cents a share. That's much smaller than analyst estimates of a loss of 81 cents a share. Revenue fell 3.3% from the year-ago period to $463 million, compared to analyst estimates of $475.4 million.
The company's net coal sales volume for the quarter totaled 2.9 million metric tons (MMTs) for the quarter, a 13.8% increase from the year-ago period. Hard coking coal sales volume was 2.5 MMTs, a 15.4% increase compared to 2012.
Walter Energy's net average cash cost of production was $68.02 per MT in the quarter, which was down 28.1% from the year-ago quarter.
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TheStreet Ratings team rates WALTER ENERGY INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate WALTER ENERGY INC (WLT) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its poor profit margins, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk."
Highlights from the analysis by TheStreet Ratings Team goes as follows: