A person taking notes from their tablet
Markets

Walter Energy Swings to $1 Billion Q3 Loss; Adjusted Profit and Revenue Miss the Mark (WLT)

Coal producer Walter Energy, Inc. ( WLT ) late Monday posted disappointing third quarter earnings results, hurt by lower revenue amid weak coal prices.

The Birmingham, AL-based company reported a third quarter net loss of $1.06 billion, or -$16.97 per share, compared with net income of $87.1 million, or $1.39 per share, in the year-ago period. Excluding massive one-time charges related to an acquisition, adjusted profit was 48 cents per share.

Revenue fell 11% from last year to $612 million.

On average, Wall Street analysts expected a higher profit of 51 cents per share, on much higher revenue of $660.30 million.

Walter Energy shares fell 45 cents, or -1.2%, in premarket trading Tuesday.

The Bottom Line

Shares of Walter Energy ( WLT ) have a 1.37% dividend yield, based on last night's closing stock price of $36.55. The stock has technical support in the $30-$31 price area. If the shares can firm up, we see overhead resistance around the $40-$44 price levels.

Walter Energy, Inc. ( WLT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Stocks

Latest Markets Videos