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ARCH RESOURCES NEWS RELEASE Investor Relations 314 / 994-2916 FOR IMMEDIATE RELEASE Arch Resources Reports First Quarter 2021 Results Maintains world - class execution in core metallurgical segment Drives toward Q3 2021 startup of Leer South longwall , on time and on budget Delivers on two - pronged thermal strategy of generating cash and rationalizing footprint 1 ST . LOUIS , April 22 , 2021 - Arch Resources , Inc. ( NYSE : ARCH ) today reported a net loss of $ 6.0 million , or $ 0.40 per diluted share , in the first quarter of 2021 , compared with a net loss of $ 25.3 million , or $ 1.67 per diluted share , in the prior - year period . Arch had adjusted earnings before interest , taxes , depreciation , depletion , amortization , accretion on asset retirement obligations ( ARO ) , and non - operating expenses ( " adjusted EBITDA ” ) ¹ of $ 30.9 million in the first quarter of 2021 , which included a $ 0.5 million non - cash mark - to - market loss associated with the company's coal - hedging activities . This compares to $ 12.9 million of adjusted EBITDA in the first quarter of 2020 , which included a $ 0.7 million non - cash mark - to - market loss associated with the company's coal - hedging activities . Revenues totaled $ 357.5 million for the three months ended March 31 , 2021 , versus $ 405.2 million in the prior - year quarter . In the first quarter of 2021 , Arch significantly advanced its strategic priorities as the company : • Built on momentum at the world - class Leer South project , which remains on - track to commence longwall operations in the third quarter ; • Maintained its consistent and well - established position as one of the U.S. metallurgical industry's lowest cost producers ; • Continued generating cash from its legacy thermal assets while driving forward with its accelerated reclamation plan ; and Maintained its intense focus and exemplary performance across environmental , social and governance ( ESG ) metrics . " The Arch team maintained its world - class execution in the first quarter of 2021 , once again delivering operational excellence in the key areas of cost control , safety and environmental stewardship , " said Paul A. Lang , Arch's chief executive officer . “ Notably , our performance improved steadily as the quarter progressed , in lockstep with the expanding availability of the 1 Adjusted EBITDA is defined and reconciled in the " Reconciliation of Non - GAAP measures " in this release . 1