2nd Quarter 2019 Earnings Supplement August 6, 2019
Executive Summary Continuing to Follow the Play Book Pennsylvania Mining Complex Increased 2020 and 2021 contracted position to 80% and 34%, respectively. Entered into a 3-year, fixed price supply contract with a blue-chip domestic…
CEIX Performance Since November 2017 Spin Performance of Our Securities since the November 2017 Spin Spin Today 0% -25% 110.00 5% 6% +1 S&P notch 50.00 7.0% 0% 105 -2% 6.0% 105.00 5% 6.0% 100 25.00 35% -50% B1 / B+ 40.00…
CEIX Accelerating Debt/Equity Repurchases CEIX Repurchase Program Authorization(1) Cumulative Repurchases Remaining Availability CEIXs Board of Directors has increased the 200 repurchase authorization by 25MM to an aggregate…
Strong Contracted Position Supported by Diversified Customer Base Blue-chip customers(1) Limited volume at risk due to announced power plant retirements 2018 domestic power plant shipments by unit retirement status Announced Coal…
Proven Contracting Strategy and Tier 1 Asset Base Reduces Earnings Volatility Stable Pricing Profile(1) CEIX Average Revenue Per Ton Domestic NAPP Coal Average Prompt Month API2 Spot Average PJM Western Hub Around-The-Clock 160…
Solid Global Coal-Fired Generation Capacity Growth Continues Global coal power plant build outs under construction by year Global coal power plant build outs by country 90 China India Vietnam Indonesia Other Asia Rest of World 90…
Itmann Project Will Cater to Growing Market with Shrinking High Quality Supply According to Wood Mackenzie: Global seaborne met coal demand will rise from 313 Mt in 2019 to 422 Mt by 2040. Indian imports increase to 142 Mtpa in…
Solid Gas Export & Sea-Change in Domestic Production Growth Pace LNG export demand has been positive supported by increased export capacity EIAs upward revisions to export demand U.S. liquefied natural gas export capacity: 2016 2021,…
Return on Capital Highlights the Need for Rising Commodity Prices The goal is to raise CEIXs Return on Capital(1) over time while lowering its WACC. Focused on margins and corporate returns instead of just growth. Low production…
Second Quarter Results and 2019 Guidance For the Quarter Ended Guidance Earnings Results June June CEIX CCR 30, 2019 30, 2018 Change 2019(5) 2019(5) Pennsylvania Mining Complex Volumes (MM Tons) Production 7.2 7.7 (0.5) Sales 7.4…
Leverage and Liquidity Analysis Adjusted Method Bank Method CEIX Financial Metrics (MM except ratios) LTM 6/30/2019 LTM 6/30/2019 Leverage EBITDA(1)(2) 430 345 Consolidated Net Debt(3) 599 599 Net Leverage Ratio(1) 1.4x 1.7x…
CEIX Balance Sheet Legacy Liabilities, Manageable and Declining Significant legacy liability reductions over past three years Legacy liabilities Balance Sheet Cash Servicing (mm) Value Cost The impact of administrative changes in 2016…
Appendix 15
CEIX Adjusted EBITDA & Organic Free Cash Flow Net to CEIX Shareholders Reconciliations EBITDA Reconciliation LTM 2Q19 2Q18 6/30/2019 Net Income 48.8 52.7 124.3 Plus: Interest Expense, net 16.0 21.5 75.9 Interest Income (0.8) (0.5)…
CCR Adjusted EBITDA & Organic Free Cash Flow Reconciliations EBITDA Reconciliation 2Q19 2Q18 Net Income 14.4 19.4 Plus: Interest Expense, Net 1.6 1.8 Depreciation, Depletion and Amortization 11.3 11.9 EBITDA 27.3 33.1 Plus:…
CEIX Net Leverage Ratio Reconciliations CEIX Net Leverage Ratio Reconciliations Adjusted Method Bank Method LTM 6/30/2019 LTM 6/30/2019 Net Income 124 124 Plus: Interest Expense, net 76 76 Interest Income (3) (3) Income Tax…
CEIX Return on Capital Reconciliation CEIX Return on Capital Reconciliation LTM 6/30/2019 Net Income 124 Plus: Interest Expense, net 76 Interest Income (3) Income Tax Expense (3) EBIT 194 Add Legacy Liability Payments 72 Add…
CCR Net Leverage Ratio Reconciliation CCR Net Leverage Ratio Reconciliation LTM 6/30/2019 Net Income 54.8 Plus: Interest Expense, net 5.8 Depreciation, Depletion and Amortization 44.6 Unit-Based Compensation 1.7 Non-Cash…
Adjusted Net Income and Adjusted Dilutive EPS Reconciliations (MM except per share data) 2Q19 2Q18 Net Income 49 53 Plus: Adjustments to Net Income - - Plus: Tax Benefit of Adjustments to Net Income - - Adjusted Net Income 49 53…
Average Cash Margin and Average Cost per Ton Sold Reconciliations (MM except per ton data) 2Q19 2Q18 Total Coal Revenue 351 371 Operating and Other Costs 253 248 Less: Other Costs (Non-Production) (23) (36) Total Cash Cost of Coal…
CMT Adjusted EBITDA Reconciliation CMT EBITDA Reconciliation 2Q19 2Q18 Net Income 8.2 7.9 Plus: Interest Expense, net 1.5 1.5 Depreciation, Depletion and Amortization 1.4 1.0 EBITDA 11.2 10.4 Plus: Stock/Unit-Based Compensation…
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