Arch Coal Inc. (NYSE:ACI) Q2 2020 Earnings Conference Call - Final Transcript

Jul 28, 2020 • 10:00 am ET

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Arch Coal Inc. (NYSE:ACI) Q2 2020 Earnings Conference Call - Final Transcript

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Operator
Operator

Good day, and welcome to the Arch Resources Incorporated Second Quarter 2020 Earnings Conference Call. Today's conference is being recorded. I would now like to turn the call over to Deck Slone, Senior Vice President of Strategy. Please go ahead, sir.

Executive
Deck S. Slone

Good morning from St. Louis, and thanks for joining us. As in April, the team is conducting this call from Arch's boardroom, but we want to assure you that we are widely spaced here and following CDC guidelines.

Before we begin, let me remind you that certain statements made during this call, including statements relating to our expected future business and financial performance may be considered forward-looking statements according to the Private Securities Litigation Reform Act. Forward-looking statements, by their nature, address matters that are to different degrees uncertain. These uncertainties, which are described in more detail in the annual and quarterly reports that we filed with the SEC, may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

I'd also like to remind you that you can find a reconciliation of the non-GAAP financial measures that we plan to discuss this morning at the end of our press release, a copy of which we have posted in the Investors section of our website at archrsc.com.

With me on today's call, we have Paul Lang, our CEO and President; John Drexler, our COO; and Matt Giljum, our CFO. We will begin with some prepared remarks, and following those remarks we'll be happy to take your questions.

With that, I'll turn the call over to Paul.

Executive
Paul A. Lang

Thanks, Deck, and good morning, everyone. I hope you and your families are staying safe and I appreciate you taking time to join us on the call this morning. Let me begin by extending my gratitude to the entire Arch team for their tremendous contributions during this unique time, a time when many of us are finding it challenging to balance the dynamics of personal and professional obligations.

On the professional front, the Arch workforce has adjusted quickly to the new reality in an impressive fashion. Throughout the organization, employees have embraced rigorous new protocols that they and we believe can help safeguard the health of our communities, our colleagues and ourselves.

More notable still, our people are adopting these new routines, while advancing key strategic objectives and executing their daily tasks in the same exemplary fashion as always. On behalf of the entire senior management team, I want to thank the Arch employees for their efforts on this front as well as for their resilience, their professionalism and their dedication.

I'm pleased to report that these qualities were on display over the last three months. During the second quarter, our coking coal franchise continued its strong operational momentum, delivering another first-quartile cost performance, despite lower-than-anticipated volume levels, stemming from customer