{"url_path":"/sec/amr/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1704715/0001704715-26-000018-index.html","accession_number":"0001704715-26-000018","cik":"0001704715","ticker":"AMR","issuer_name":"Alpha Metallurgical Resources, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1704715/0001704715-26-000018-index.html","primary_entity_key":"0001704715","primary_entity_name":"Alpha Metallurgical Resources, 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STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\nForm 10-Q\n\n(Mark One)\n\n☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\nOR\n\n☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from           to\n\nCommission File Number: 001-38735\n\nALPHA METALLURGICAL RESOURCES, INC.\n\n(Exact name of registrant as specified in its charter)\n\nDelaware81-3015061\n\n(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)\n\n340 Martin Luther King Jr. Blvd.\n\nBristol, Tennessee 37620\n\n(Address of principal executive offices, zip code)\n\n(423) 573-0300\n\n(Registrant’s telephone number, including area code)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTrading Symbol(s)Name of each exchange on which registered\n\nCommon StockAMRNew York Stock Exchange\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x Yes   ¨ No\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (Sec.232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). x Yes   ¨ No\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer☒Accelerated filer☐\n\nNon-accelerated filer☐Smaller reporting company☐\n\nEmerging growth company☐\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes   x No\n\nNumber of shares of the registrant’s Common Stock, $0.01 par value per share, outstanding as of April 30, 2026: 12,714,624\n\nTABLE OF CONTENTS\n\n[Cautionary Note Regarding Forward-Looking Statements](#i421027d2669a4bd59f052dc7379e80eb_10)\n\n[4](#i421027d2669a4bd59f052dc7379e80eb_10)\n\n[Glossary](#i421027d2669a4bd59f052dc7379e80eb_13)\n\n[6](#i421027d2669a4bd59f052dc7379e80eb_13)\n\n[Part I - Financial Information](#i421027d2669a4bd59f052dc7379e80eb_16)\n\n[Item 1.](#i421027d2669a4bd59f052dc7379e80eb_19)\n\n[Financial Statements](#i421027d2669a4bd59f052dc7379e80eb_19)\n\n[Condensed Consolidated Statements of Operations for the Three](#i421027d2669a4bd59f052dc7379e80eb_22)[Months Ended](#i421027d2669a4bd59f052dc7379e80eb_22)[March](#i421027d2669a4bd59f052dc7379e80eb_22)[3](#i421027d2669a4bd59f052dc7379e80eb_22)[1](#i421027d2669a4bd59f052dc7379e80eb_22)[, 202](#i421027d2669a4bd59f052dc7379e80eb_22)[6](#i421027d2669a4bd59f052dc7379e80eb_22)[and 202](#i421027d2669a4bd59f052dc7379e80eb_22)[5](#i421027d2669a4bd59f052dc7379e80eb_22)[(Unaudited)](#i421027d2669a4bd59f052dc7379e80eb_22)\n\n[8](#i421027d2669a4bd59f052dc7379e80eb_22)\n\n[Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended March 31, 2026 and 2025 (Unaudited)](#i421027d2669a4bd59f052dc7379e80eb_25)\n\n[9](#i421027d2669a4bd59f052dc7379e80eb_25)\n\n[Condensed Consolidated Balance Sheets as of](#i421027d2669a4bd59f052dc7379e80eb_28)[March](#i421027d2669a4bd59f052dc7379e80eb_28)[3](#i421027d2669a4bd59f052dc7379e80eb_28)[1](#i421027d2669a4bd59f052dc7379e80eb_28)[, 202](#i421027d2669a4bd59f052dc7379e80eb_28)[6](#i421027d2669a4bd59f052dc7379e80eb_28)[and December 31, 202](#i421027d2669a4bd59f052dc7379e80eb_28)[5](#i421027d2669a4bd59f052dc7379e80eb_28)[(Unaudited)](#i421027d2669a4bd59f052dc7379e80eb_28)\n\n[10](#i421027d2669a4bd59f052dc7379e80eb_28)\n\n[Condensed Consolidated Statements of Cash Flows for the](#i421027d2669a4bd59f052dc7379e80eb_31)[Three](#i421027d2669a4bd59f052dc7379e80eb_31)[Months Ended](#i421027d2669a4bd59f052dc7379e80eb_31)[March](#i421027d2669a4bd59f052dc7379e80eb_31)[3](#i421027d2669a4bd59f052dc7379e80eb_31)[1](#i421027d2669a4bd59f052dc7379e80eb_31)[, 202](#i421027d2669a4bd59f052dc7379e80eb_31)[6](#i421027d2669a4bd59f052dc7379e80eb_31)[and 202](#i421027d2669a4bd59f052dc7379e80eb_31)[5](#i421027d2669a4bd59f052dc7379e80eb_31)[(Unaudited)](#i421027d2669a4bd59f052dc7379e80eb_31)\n\n[11](#i421027d2669a4bd59f052dc7379e80eb_31)\n\n[Condensed Consolidated Statements of Stockholders’ Equity for the Three](#i421027d2669a4bd59f052dc7379e80eb_34)[Months Ended](#i421027d2669a4bd59f052dc7379e80eb_34)[March](#i421027d2669a4bd59f052dc7379e80eb_34)[3](#i421027d2669a4bd59f052dc7379e80eb_34)[1](#i421027d2669a4bd59f052dc7379e80eb_34)[, 202](#i421027d2669a4bd59f052dc7379e80eb_34)[6](#i421027d2669a4bd59f052dc7379e80eb_34)[and 202](#i421027d2669a4bd59f052dc7379e80eb_34)[5](#i421027d2669a4bd59f052dc7379e80eb_34)[(Unaudited)](#i421027d2669a4bd59f052dc7379e80eb_34)\n\n[12](#i421027d2669a4bd59f052dc7379e80eb_34)\n\n[Notes to Condensed Consolidated Financial Statements (Unaudited)](#i421027d2669a4bd59f052dc7379e80eb_37)\n\n[13](#i421027d2669a4bd59f052dc7379e80eb_37)\n\n[(1) Business and Basis of Presentation](#i421027d2669a4bd59f052dc7379e80eb_40)\n\n[13](#i421027d2669a4bd59f052dc7379e80eb_40)\n\n[(2) Revenue](#i421027d2669a4bd59f052dc7379e80eb_43)\n\n[14](#i421027d2669a4bd59f052dc7379e80eb_43)\n\n[(3) Accumulated Other Comprehensive Loss](#i421027d2669a4bd59f052dc7379e80eb_49)\n\n[15](#i421027d2669a4bd59f052dc7379e80eb_49)\n\n[(4) Net Loss Per Share](#i421027d2669a4bd59f052dc7379e80eb_52)\n\n[15](#i421027d2669a4bd59f052dc7379e80eb_52)\n\n[(5) Inventories, net](#i421027d2669a4bd59f052dc7379e80eb_55)\n\n[16](#i421027d2669a4bd59f052dc7379e80eb_55)\n\n[(6) Capital Stock](#i421027d2669a4bd59f052dc7379e80eb_58)\n\n[16](#i421027d2669a4bd59f052dc7379e80eb_58)\n\n[(7) Accrued Expenses and Other Current Liabilities](#i421027d2669a4bd59f052dc7379e80eb_61)\n\n[16](#i421027d2669a4bd59f052dc7379e80eb_61)\n\n[(8) Long-Term Debt](#i421027d2669a4bd59f052dc7379e80eb_64)\n\n[16](#i421027d2669a4bd59f052dc7379e80eb_64)\n\n[(9) Asset Retirement Obligations](#i421027d2669a4bd59f052dc7379e80eb_67)\n\n[17](#i421027d2669a4bd59f052dc7379e80eb_67)\n\n[(10) Fair Value of Financial Instruments and Fair Value Measurements](#i421027d2669a4bd59f052dc7379e80eb_70)\n\n[17](#i421027d2669a4bd59f052dc7379e80eb_70)\n\n[(11) Income Taxes](#i421027d2669a4bd59f052dc7379e80eb_73)\n\n[18](#i421027d2669a4bd59f052dc7379e80eb_73)\n\n[(12) Employee Benefit Plans](#i421027d2669a4bd59f052dc7379e80eb_76)\n\n[18](#i421027d2669a4bd59f052dc7379e80eb_76)\n\n[(13) Related Party Transactions](#i421027d2669a4bd59f052dc7379e80eb_79)\n\n[19](#i421027d2669a4bd59f052dc7379e80eb_79)\n\n[(14) Commitments and Contingencies](#i421027d2669a4bd59f052dc7379e80eb_82)\n\n[19](#i421027d2669a4bd59f052dc7379e80eb_82)\n\n[(15) Segment Information](#i421027d2669a4bd59f052dc7379e80eb_85)\n\n[22](#i421027d2669a4bd59f052dc7379e80eb_85)\n\n[Item 2.](#i421027d2669a4bd59f052dc7379e80eb_88)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i421027d2669a4bd59f052dc7379e80eb_88)\n\n[25](#i421027d2669a4bd59f052dc7379e80eb_88)\n\n[Results of Operations](#i421027d2669a4bd59f052dc7379e80eb_91)\n\n[27](#i421027d2669a4bd59f052dc7379e80eb_91)\n\n[Liquidity and Capital Resources](#i421027d2669a4bd59f052dc7379e80eb_94)\n\n[31](#i421027d2669a4bd59f052dc7379e80eb_94)\n\n[Critical Accounting](#i421027d2669a4bd59f052dc7379e80eb_97)[Estimates](#i421027d2669a4bd59f052dc7379e80eb_97)\n\n[35](#i421027d2669a4bd59f052dc7379e80eb_97)\n\n[Item 3.](#i421027d2669a4bd59f052dc7379e80eb_100)\n\n[Quantitative and Qualitative Disclosures about Market Risk](#i421027d2669a4bd59f052dc7379e80eb_100)\n\n[36](#i421027d2669a4bd59f052dc7379e80eb_100)\n\n[Item 4.](#i421027d2669a4bd59f052dc7379e80eb_103)\n\n[Controls and Procedures](#i421027d2669a4bd59f052dc7379e80eb_103)\n\n[36](#i421027d2669a4bd59f052dc7379e80eb_103)\n\n[Part II - Other Information](#i421027d2669a4bd59f052dc7379e80eb_106)\n\n[Item 1.](#i421027d2669a4bd59f052dc7379e80eb_109)\n\n[Legal Proceedings](#i421027d2669a4bd59f052dc7379e80eb_109)\n\n[37](#i421027d2669a4bd59f052dc7379e80eb_109)\n\n[Item 1A.](#i421027d2669a4bd59f052dc7379e80eb_112)\n\n[Risk Factors](#i421027d2669a4bd59f052dc7379e80eb_112)\n\n[37](#i421027d2669a4bd59f052dc7379e80eb_112)\n\n[Item 2.](#i421027d2669a4bd59f052dc7379e80eb_115)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#i421027d2669a4bd59f052dc7379e80eb_115)\n\n[37](#i421027d2669a4bd59f052dc7379e80eb_115)\n\n[Item 4.](#i421027d2669a4bd59f052dc7379e80eb_118)\n\n[Mine Safety Disclosures](#i421027d2669a4bd59f052dc7379e80eb_118)\n\n[38](#i421027d2669a4bd59f052dc7379e80eb_118)\n\n[Item 5.](#i421027d2669a4bd59f052dc7379e80eb_121)\n\n[Other Information](#i421027d2669a4bd59f052dc7379e80eb_121)\n\n[38](#i421027d2669a4bd59f052dc7379e80eb_121)\n\n[Item 6.](#i421027d2669a4bd59f052dc7379e80eb_124)\n\n[Exhibits](#i421027d2669a4bd59f052dc7379e80eb_124)\n\n[38](#i421027d2669a4bd59f052dc7379e80eb_124)\n\n3\n\n[Table of Contents](#i421027d2669a4bd59f052dc7379e80eb_7)\n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS\n\nThis report includes statements of our expectations, intentions, plans and beliefs that constitute “forward-looking statements.” These statements, which involve risks and uncertainties, relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to our future prospects, developments and business strategies. We have used the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “should” and similar terms and phrases, including references to assumptions, in this report to identify forward-looking statements, but these terms and phrases are not the exclusive means of identifying such statements. These forward-looking statements are made based on expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control, that could cause our actual results to differ materially from those expressed in or implied by these forward-looking statements.\n\nThe following factors are among those that may cause actual results to differ materially from our forward-looking statements:\n\n•depressed levels or declines in coal prices;\n\n•the financial performance of the company;\n\n•our liquidity, results of operations and financial condition;\n\n•our ability to generate sufficient cash or obtain financing to fund our business operations;\n\n•worldwide market demand for coal and steel, including demand for U.S. coal exports, and competition in coal markets;\n\n•railroad, barge, truck, port and other transportation availability, performance and costs;\n\n•steel and coke producers switching to alternative energy sources such as natural gas, renewables and coal from basins where we do not operate;\n\n•our ability to meet collateral requirements for, and fund, employee benefit obligations;\n\n•our ability to self-insure certain of our black lung obligations;\n\n•our ability to obtain or renew surety bonds on acceptable terms or maintain our current bonding status;\n\n•the imposition, continuation or modification of barriers to trade, such as tariffs, and the unpredictability of these events;\n\n•attracting and retaining key personnel and other employee workforce factors, such as labor relations;\n\n•our ability to consummate financing or refinancing transactions, and other services, and the form and degree of these services available to us, which may be significantly limited by the lending, investment and similar policies of financial institutions and insurance companies regarding carbon energy producers, the environmental impacts of coal combustion or other factors;\n\n•inflationary pressures on supplies and labor and significant or rapid increases in commodity prices;\n\n•our costs of complying with health and safety regulations, including but not limited to MSHA’s silica regulations;\n\n•changes in domestic or international environmental laws and regulations, and court decisions, including those directly affecting our coal mining and production and those affecting our customers’ coal usage, including potential climate change initiatives;\n\n•failures in performance, or non-performance, of services by third-party contractors, including contract mining and reclamation contractors or other counterparties;\n\n•disruptions in delivery or changes in pricing from third-party vendors of key equipment and materials that are necessary for our operations, such as diesel fuel, steel products, explosives, tires and purchased coal;\n\n•our production capabilities and costs;\n\n•our indebtedness as we may incur it from time to time;\n\n•our ability to execute our share repurchase program;\n\n•cybersecurity attacks or failures, threats to physical security, extreme weather conditions or other natural disasters;\n\n•increased volatility and uncertainty regarding worldwide markets, seaborne transportation and our customers as a result of developments in and around Ukraine, Iran, and the broader Middle East;\n\n•changes in, renewal or acquisition of, terms of and performance of customers under coal supply arrangements and the refusal by our customers to receive coal under agreed-upon contract terms;\n\n•reductions or increases in customer coal inventories and the timing of those changes;\n\n•our ability to obtain, maintain or renew any necessary permits or rights;\n\n•inherent risks of coal mining, including those that are beyond our control;\n\n•changes in, interpretations of, or implementations of domestic or international tax or other laws and regulations, including U.S. federal legislation and its related regulations;\n\n•our relationships with, and other conditions affecting, our customers, including the inability to collect payments from our customers if their creditworthiness declines;\n\n•reclamation and mine closure obligations;\n\n4\n\n[Table of Contents](#i421027d2669a4bd59f052dc7379e80eb_7)\n\n•our assumptions concerning economically recoverable coal reserve estimates; and\n\n•other factors, including the other factors discussed in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section included elsewhere in this Quarterly Report on Form 10-Q and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections included in our Annual Report on Form 10-K for the year ended December 31, 2025.\n\nThe list of factors identified above is not exhaustive. We caution readers not to place undue reliance on any forward looking statements, which are based on information currently available to us and speak only as of the dates on which they are made. When considering these forward-looking statements, you should keep in mind the cautionary statements in this report. We do not undertake any responsibility to publicly revise these forward-looking statements to take into account events or circumstances that occur after the date of this report. Additionally, except as expressly required by federal securities laws, we do not undertake any responsibility to update you on the occurrence of any unanticipated events, which may cause actual results to differ from those expressed or implied by the forward-looking statements contained in this report.\n\n5\n\n[Table of Contents](#i421027d2669a4bd59f052dc7379e80eb_7)\n\nGLOSSARY\n\nAlpha. Alpha Metallurgical Resources, Inc. (the “Company”) (previously named Contura Energy, Inc.).\n\nAsh. Impurities consisting of iron, alumina and other incombustible matter that are contained in coal. Since ash increases the weight of coal, it adds to the cost of handling and can affect the burning characteristics of coal.\n\nBritish Thermal Unit or BTU. A measure of the thermal energy required to raise the temperature of one pound of pure liquid water one degree Fahrenheit at the temperature at which water has its greatest density (39 degrees Fahrenheit).\n\nCentral Appalachia or CAPP. Coal producing area in eastern Kentucky, Virginia, southern West Virginia and a portion of eastern Tennessee.\n\nCoal reserves. The economically mineable part of a measured or indicated coal resource, which includes diluting materials and allowances for losses that may occur when coal is mined or extracted.\n\nCoal resources. Coal deposits in such form, quality, and quantity that there are reasonable prospects for economic extraction.\n\nCoal seam. Coal deposits occur in layers. Each layer is called a “seam.”\n\nCoke. A hard, dry carbon substance produced by heating coal to a very high temperature in the absence of air. Coke is used in the manufacture of iron and steel. Its production results in a number of useful byproducts.\n\nESG. Environmental, social and governance sustainability criteria.\n\nHigh-Vol. B. A coking coal used in steel production with a volatile matter content generally between 34.5% and 38% on a dry basis.\n\nIndicated coal resource. That part of a coal resource for which quantity and quality are estimated on the basis of adequate geological evidence and sampling sufficient to establish geological and quality continuity with reasonable certainty.\n\nMeasured coal resource. That part of a coal resource for which quantity and quality are estimated on the basis of conclusive geological evidence and sampling sufficient to test and confirm geological and quality continuity.\n\nMerger. Merger with ANR, Inc. and Alpha Natural Resources Holdings, Inc. completed on November 9, 2018.\n\nMetallurgical coal. The various grades of coal suitable for carbonization to make coke for steel manufacture. Also known as “met” coal, its quality is primarily differentiated based on volatility or its percent of volatile matter. Met coal typically has a particularly high BTU but low ash and sulfur content.\n\nMSHA. The United States Mine Safety and Health Administration, which has responsibility for developing and enforcing safety and health rules for U.S. mines.\n\nOperating Margin. Coal revenues less cost of coal sales.\n\nPreparation plant. A preparation plant is a facility for crushing, sizing and washing coal to remove impurities and prepare it for use by a particular customer. The washing process has the added benefit of removing some of the coal’s sulfur content. A preparation plant is usually located on a mine site, although one plant may serve several mines.\n\nProbable mineral reserve. The economically mineable part of an indicated and, in some cases, a measured coal resource.\n\nProductivity. As used in this report, refers to clean metric tons of coal produced per underground man hour worked, as published by MSHA.\n\nProven mineral reserve. The economically mineable part of a measured coal resource.\n\nReclamation. The process of restoring land and the environment to their original state following mining activities. The process commonly includes “recontouring” or reshaping the land to its approximate original appearance, restoring topsoil and\n\n6\n\n[Table of Contents](#i421027d2669a4bd59f052dc7379e80eb_7)\n\nplanting native grass and ground covers. Reclamation operations are usually underway before the mining of a particular site is completed. Reclamation is closely regulated by both state and federal law.\n\nRoof. The stratum of rock or other mineral above a coal seam; the overhead surface of a coal working place.\n\nSurface mine. A mine in which the coal lies near the surface and can be extracted by removing the covering layer of soil.\n\nThermal coal. Coal used by power plants and industrial steam boilers to produce electricity, steam or both. It generally is lower in BTU heat content and higher in volatile matter than metallurgical coal.\n\nTons. A “short” or net ton is equal to 2,000 pounds. A “long” or British ton is equal to 2,240 pounds; a “metric” ton (or “tonne”) is approximately 2,205 pounds. Tonnage amounts in this report are stated in short tons, unless otherwise indicated.\n\nUnderground mine. Also known as a “deep” mine. Usually located several hundred feet below the earth’s surface, an underground mine’s coal is removed mechanically and transferred by shuttle car and conveyor to the surface.\n\n7\n\n[Table of Contents](#i421027d2669a4bd59f052dc7379e80eb_7)\n\nPart I - Financial Information"}