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FOR IMMEDIATE RELEASE                                 


Contura Announces First Quarter 2019 Results


BRISTOL, Tenn., May 15, 2019 -
Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today reported results for the first quarter ending March 31, 2019.

Highlights include:

Net Income from continuing operations of $8 million for the first quarter 2019 compared with $58 million in the same period last year(1) 
Adjusted EBITDA(3) of $83 million for the quarter compared with $99 million in the same period last year(1) 
Under Contura's new interim leadership, company obtains commitments for new $555 million first lien facility to replace its existing term loan, substantially improving capital return flexibility
Board of directors adopts capital return program; capital return of up to $250 million authorized
Company approves new low-cost, West Virginia metallurgical coal project; expected online in 2020
Integration activities are progressing as planned, and search for permanent CEO well underway
Updating cost guidance for 2019

 
(millions, except per share)
 
Three months ended March 31,
 
2019(1)
2018(1)
Net income(2) 
$8.0
$58.3
Net income(2) per diluted share
$0.41
$5.66
Adjusted EBITDA(3)
$83.4
$99.0
Operating cash flow(4)
$14.6
$(30.3)
Capital expenditures
$41.1
$19.4
Tons of coal sold
5.9
3.8
__________________________________

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

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The following information was filed by Contura Energy, Inc. (CTRA) on Wednesday, May 15, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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