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ARCH RESOURCES NEWS RELEASE Investor Relations 314 / 994-2916 FOR IMMEDIATE RELEASE Arch Resources Reports Second Quarter 2021 Results Delivers top - tier cost performance and 47 - percent sequential increase in gross margin in core metallurgical segment Poised to commence longwall operations at world - class Leer South mine in late August Drives forward with thermal strategy of harvesting cash and rationalizing footprint ST . LOUIS , July 27 , 2021 - Arch Resources , Inc. ( NYSE : ARCH ) today reported net income of $ 27.9 million , or $ 1.66 per diluted share , in the second quarter of 2021 , compared with a net loss of $ 49.3 million , or $ 3.26 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 $ 66.5 million in the second quarter of 2021 , which included an $ 8.8 million non - cash mark - to - market loss associated with the company's coal - hedging activities . This compares to a negative $ 10.7 million of adjusted EBITDA in the second quarter of 2020 , which included a $ 0.1 million non- cash mark - to - market gain associated with the company's coal - hedging activities . Revenues totaled $ 450.4 million for the three months ended June 30 , 2021 , versus $ 319.5 million in the prior - year quarter . In the second quarter of 2021 , Arch made important progress on its key strategic priorities : • . . Neared completion of the transformational Leer South project , which is on track to commence longwall operations in August ; Extended the company's track record as one of the U.S. metallurgical industry's lowest cost producers ; Generated significant cash with its legacy thermal segment , while simultaneously reducing its long - term closure obligations in a responsible and systematic way ; and Maintained a perfect regulatory record and joined ResponsibleSteel ™ , furthering its intense focus on – and exceptional performance against – a wide range of environmental , social and governance ( ESG ) metrics . - - 1 Adjusted EBITDA is defined and reconciled in the " Reconciliation of Non - GAAP measures " in this release . 1