Friday, August 3, 2012

Walter Energy: Down, But Not Out

After the market close on Wednesday, Walter Energy (WLT) reported earnings that beat estimates. The earnings this quarter were important considering the rapid decline of the stock over the last couple of months.

The company is a leading "pure-play" producer of metallurgical coal for the global steel industry with operations primarily in the U.S. and Canada.

The company reported a solid $0.43 from continuing operations compared to the $0.36 expected by analysts. Although production was up year-over-year, lower prices hurt earnings causing them to drop from last years $1.83.

Read the full article at Seeking Alpha.


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