| Schedule of Reconciliations of Segment Information to Consolidated Amounts |
The following tables include reconciliations of segment information to consolidated amounts (in thousands):
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|
|
|
|
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|
|
|
|
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For the three months ended June 30, |
|
|
For the six months ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
Mining |
|
$ |
503,594 |
|
|
$ |
288,491 |
|
|
$ |
952,063 |
|
|
$ |
583,424 |
|
All other |
|
|
6,096 |
|
|
|
9,032 |
|
|
|
16,215 |
|
|
|
14,042 |
|
Total revenues |
|
$ |
509,690 |
|
|
$ |
297,523 |
|
|
$ |
968,278 |
|
|
$ |
597,466 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit |
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
$ |
503,594 |
|
|
$ |
288,491 |
|
|
$ |
952,063 |
|
|
$ |
583,424 |
|
Cash cost of sales(1) |
|
|
338,107 |
|
|
|
224,504 |
|
|
|
626,802 |
|
|
|
468,532 |
|
Other segment items(2) |
|
|
1,939 |
|
|
|
1,908 |
|
|
|
3,662 |
|
|
|
3,615 |
|
Segment profit |
|
$ |
163,548 |
|
|
$ |
62,079 |
|
|
$ |
321,599 |
|
|
$ |
111,277 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transportation and royalties |
|
|
|
|
|
|
|
|
|
|
|
|
Mining |
|
$ |
143,290 |
|
|
$ |
75,067 |
|
|
$ |
256,910 |
|
|
$ |
157,684 |
|
All other |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total transportation and royalties |
|
$ |
143,290 |
|
|
$ |
75,067 |
|
|
$ |
256,910 |
|
|
$ |
157,684 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
Mining |
|
$ |
2,740,774 |
|
|
$ |
2,288,119 |
|
|
$ |
2,740,774 |
|
|
$ |
2,288,119 |
|
All other |
|
|
159,687 |
|
|
|
357,283 |
|
|
|
159,687 |
|
|
|
357,283 |
|
Total assets |
|
$ |
2,900,461 |
|
|
$ |
2,645,402 |
|
|
$ |
2,900,461 |
|
|
$ |
2,645,402 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and depletion |
|
|
|
|
|
|
|
|
|
|
|
|
Mining |
|
$ |
56,453 |
|
|
$ |
41,014 |
|
|
$ |
106,643 |
|
|
$ |
84,005 |
|
All other |
|
|
1,840 |
|
|
|
2,241 |
|
|
|
3,923 |
|
|
|
4,527 |
|
Total depreciation and depletion |
|
$ |
58,293 |
|
|
$ |
43,255 |
|
|
$ |
110,566 |
|
|
$ |
88,532 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital Expenditures |
|
|
|
|
|
|
|
|
|
|
|
|
Mining |
|
$ |
26,989 |
|
|
$ |
73,828 |
|
|
$ |
104,592 |
|
|
$ |
141,246 |
|
All other |
|
|
1,934 |
|
|
|
1,138 |
|
|
|
4,460 |
|
|
|
2,230 |
|
Total capital expenditures |
|
$ |
28,923 |
|
|
$ |
74,966 |
|
|
$ |
109,052 |
|
|
$ |
143,476 |
|
(1)The significant expense category and amounts align with the segment-level information that is regularly reviewed by the CODM. Cash cost of sales includes transportation and royalties and excludes depreciation and depletion as presented above. (2)Other segment items include non-cash charges to cost of sales of asset retirement obligation accretion and valuation adjustments and stock compensation expense.
|
| Schedule of Revenue by Major Customers |
For the three and six months ended June 30, 2026 and 2025, the Company's Mining segment had revenues comprising greater than 10% from the following customers:
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For the three months ended June 30, |
|
|
For the six months ended June 30, |
|
Customers(1) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Customer A |
|
$ |
76,618 |
|
|
$ |
35,892 |
|
|
$ |
138,794 |
|
|
$ |
— |
|
Customer B |
|
|
62,536 |
|
|
|
— |
|
|
|
113,095 |
|
|
|
— |
|
Customer C |
|
|
54,445 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Customer D |
|
|
52,033 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Customer E |
|
|
— |
|
|
|
32,813 |
|
|
|
— |
|
|
|
— |
|
(1)Customers with a zero did not trip the 10% quantitative threshold for that period.
|
| Schedule of Reconciliation of Segment Adjusted EBITDA to Net Income (Loss) |
Below is a reconciliation of Segment Adjusted EBITDA to net income (loss), which is its most directly comparable financial measure calculated and presented in accordance with GAAP (in thousands):
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|
|
|
For the three months ended June 30, |
|
|
For the six months ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Segment Adjusted EBITDA |
|
$ |
163,548 |
|
|
$ |
62,079 |
|
|
$ |
321,599 |
|
|
$ |
111,277 |
|
Other revenues |
|
|
6,096 |
|
|
|
9,032 |
|
|
|
16,215 |
|
|
|
14,042 |
|
Cost of other revenues |
|
|
(7,033 |
) |
|
|
(8,210 |
) |
|
|
(15,363 |
) |
|
|
(16,083 |
) |
Depreciation and depletion |
|
|
(58,293 |
) |
|
|
(43,255 |
) |
|
|
(110,566 |
) |
|
|
(88,532 |
) |
Selling, general and administrative |
|
|
(9,797 |
) |
|
|
(11,923 |
) |
|
|
(37,996 |
) |
|
|
(30,365 |
) |
Interest (expense) income, net |
|
|
(3,381 |
) |
|
|
2,193 |
|
|
|
(3,965 |
) |
|
|
5,379 |
|
Income tax (expense) benefit |
|
|
(3,711 |
) |
|
|
(4,310 |
) |
|
|
(10,154 |
) |
|
|
1,720 |
|
Net income (loss) |
|
$ |
87,429 |
|
|
$ |
5,606 |
|
|
$ |
159,770 |
|
|
$ |
(2,562 |
) |
|