Arch Coal (ACI) Swings To 1st Quarter Loss

Arch Coal, Inc. (NYSE: ACI) failed to meet Wall Street expectations when it announced that it had swung to a 1st quarter loss.

Arch Coal reported a 1st quarter loss of $1.8 million, or 1 cent per share, down from net income of $30.6 million, or 21 cents per share, a year earlier.

Excluding special items, Arch Coal earned 3 cents per share.

Revenue for the 1st quarter managed to climb to $712 million, up from $681 million a year earlier.

According to a survey of analysts by FactSet Research, the average Wall Street estimate called for earnings of 7 cents per share, on revenue of $721 million.

Although it failed to meet Wall Street expectations, the company provided guidance well above Wall Street estimates.

Arch Coal said that it expects adjusted 2010 earnings to come in at $1 to $1.40 per share, compared to the average Wall Street estimate of 86 cents a share.