Arch Coal Shares Fall 5.9% On Earnings Miss (ACI)

St. Louis, Missouri-based Arch Coal, Inc. ACI on Friday morning released financial results that missed Wall Street expectations. Arch Coal, Inc reported that its 4th quarter net Income rose to $47.8 million, or 29 cents per share, up from $1.5 million, or 1 cent per share, a year earlier. Excluding special items, the company earned 33 cents per share. Arch Coal, Inc reported revenue of $835.4 million, up 15% from $725.47 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 43 cents per share, on revenue of $850.44 million. Arch Coal, Inc. (ACI) ended the previous trading session at $32.65 per share but is currently down 5.9% to $30.74 per share during pre-market trading. Analysts covering the company's stock have a consensus price target of $39.39 per share. Arch Coal, Inc supplies cleaner-burning, low-sulfur coal to U.S. power producers to fuel roughly 8 percent of the nation's electricity. The company also ships coal to domestic and international steel manufacturers as well as international power producers. Read more from Benzinga's Company news.