ST. LOUIS (AP) - Coal producer Arch Coal Inc. said Tuesday it posted a lower-than-expected loss of $128.4 million in the third quarter as lowered expenses helped temper weaker coal prices.
The St. Louis-based company lost 61 cents per share in the July-through-September period. That compares with net income of $45.8 million, or 22 cents per share, a year earlier.
Excluding one-time items, Arch said it lost $1.8 million, or a penny per share. That's down from an adjusted profit of $41.8 million, or 20 cents per share, last year.
Revenue fell 19 percent to $791.3 million from $975.2 million a year ago.
Analysts surveyed by Fact Set expected a loss of 31 cents on sales of $878.3 million.
Arch Coal shares fell 20 cents, or 4.8 percent, to $3.96 in morning trading.