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FOR IMMEDIATE RELEASE                         
        

Contura Announces Fourth Quarter 2019 Results
    
Net Loss from continuing operations of $192 million for the fourth quarter 2019 included a pre-tax non-cash asset impairment charge of $60 million and a goodwill impairment of $124 million
Adjusted EBITDA(1) of $31 million for the fourth quarter 2019(2) 
Reducing 2020 capital expenditures guidance by $30 million, maintaining other guidance


BRISTOL, Tenn., March 18, 2020 -
Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today reported results for the fourth quarter ending December 31, 2019.

 
(millions, except per share)
 
Three months ended
 
Dec. 31, 2019(2)
Sept. 30, 2019(2)
Dec. 31, 2018(2)
Net (loss) income(3) 
$(191.9)
$(43.6)
$155.9
Net (loss) income(3) per diluted share
$(10.54)
$(2.29)
$9.85
Adjusted EBITDA(1)
$31.5
$40.0
$111.2
Operating cash flow(4)
$(5.7)
$20.4
$(17.9)
Capital expenditures
$48.2
$60.3
$25.2
Tons of coal sold
5.7
5.8
5.5
__________________________________

1. These are non-GAAP financial measures. A reconciliation of Net Income to Adjusted EBITDA is included in tables accompanying the financial schedules.
2. Excludes discontinued operations.
3. From continuing operations.
4. Includes discontinued operations.


"As we recently announced, Contura made significant progress in achieving operational efficiencies and overhead cost containment improvements in the fourth quarter, and we remain steadfastly committed to progress on these goals," said chairman and chief executive officer, David Stetson. "In the early months of 2020 we have continued to build on the momentum, executing our strategy through a more nimble operating culture that is yielding additional operational productivity advances."


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The following information was filed by Contura Energy, Inc. (CTRA) on Wednesday, March 18, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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