Walter Energy works through lower demand, lower prices for metallurgical coal

摘要

Lower prices for met coal brought on by the recent drop in demand led to Walter Energy having revenue of $612 million in the third quarter, down from $689 million during the third quarter of 2011. During the Q3 '12 Walter reported a net loss of $1.1 billion or $16.97 loss per diluted share. This loss includes estimated non-cash goodwill impairment charges of $1.1 billion or $17.05 per share primarily related to the 2011 acquisition of Western Coal and a charge of $40 million associated with the abandonment of a natural gas exploration project.