The coal producer’s bottom line took a heavy hit as lower production volumes clashed with rising operational costs. The $90.6 million loss, translating to 74 cents per share, stands in stark contrast to the $27.6 million loss recorded during the same quarter last year. Analysts polled by FactSet had projected a narrower loss of 38 cents per share. While total revenue climbed 13% to $1 billion, the figure still failed to reach the $1.02 billion forecast by market observers. Adjusted Ebitda also saw a steep decline, dropping to $24 million from $93.3 million a year prior.

Chief Executive Jim Grech attributed the weak performance to temporary headwinds, expressing confidence that these pressures are already beginning to ease. The company pins its recovery on the Centurion Mine, where management expects production to hit targeted rates in the coming months. Grech anticipates a stronger financial performance in the second half of the year, driven by steady cash generation from the firm’s metallurgical and thermal coal segments.