Alpha Metallurgical Resources, Inc. produced $2.13 billion in revenues for 2025, down nearly 28% from 2024, reflecting weak global demand for metallurgical coal and export market challenges. The company reported a net loss of $61.7 million in 2025, reversing profitability from prior years amid lower coal prices and reduced production volumes. Operational shifts included the temporary idling of higher-cost assets and development of a new underground mine slated to start production in 2026. Liquidity remains robust with over $365 million cash on hand and $524 million in total liquidity. Capital allocation prioritized substantial share repurchases exceeding $1.1 billion despite earnings pressure, while dividend payments were minimal following suspension of the fixed dividend program.