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FOR IMMEDIATE RELEASE                         

Contura Announces Second Quarter 2019 Results

BRISTOL, Tenn., August 14, 2019 -
Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today reported results for the second quarter ending June 30, 2019.

Highlights include:

Net Income from continuing operations of $24 million for the second quarter 2019 compared with $8 million in the first quarter and $75 million in the same period last year(1) 
Adjusted EBITDA(3) of $141 million for the quarter compared with $83 million in the first quarter and $86 million in the same period last year(1) 
Significant operational cost improvements in each operating segment compared to the first quarter 2019
Experienced coal executive David Stetson appointed as the company's CEO and member of the board on July 29; elected chairman on August 12
Updating 2019 guidance

 
(millions, except per share)
 
Three months ended
 
June 30, 2019(1)
March 31, 2019(1)
June 30, 2018(1)
Net income(2) 
$24.3
$8.0
$74.6
Net income(2) per diluted share
$1.25
$0.41
$7.24
Adjusted EBITDA(3)
$140.8
$83.4
$86.1
Operating cash flow(4)
$102.5
$14.6
$145.9
Capital expenditures
$42.8
$41.1
$18.9
Tons of coal sold
6.4
5.9
4.4
__________________________________

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.

"Our strong second quarter performance reflects Contura's upside potential as the nation's leading metallurgical coal producer, and I believe that we are well positioned for continued future success," said chairman and chief executive officer, David Stetson. "While our operations made great strides in bringing costs down across the board over the past quarter, we still have work to do and remain acutely focused on continued cost improvement."

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The following information was filed by Contura Energy, Inc. (CTRA) on Wednesday, August 14, 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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