Who's next? Downward revisions all the rage with U.S. coal companies

摘要

Downward adjustments in third quarter coal production estimates are becoming trendy. Following the recent revisions by GONSOL Energy, Foundation Energy and Massey Energy due to a number of factors, Jim Walter Resources said it has lowered its third quarter expectations for metallurgical coal sales to 1.4 to 1.5 million tons with an average operating margin per ton of 62 dollars to 65 dollars. That's versus previous expectations of 1.7 to 1.8 million tons of sales, with an average operating margin between 75 dollars and 81 dollars.