Coal Industry in Structural Decline

Arch Coal (NYSE: ACI) reported a big loss for the fourth quarter of 2013, its eighth straight. The numbers came in lower than many analysts expected and the company continues to struggle amid declining revenues.  Arch posted a loss of $0.45 per share with revenues of $719.4 million. Part of the blame, according to Arch, was from a rail outage in the Powder River Basin and “geological” problems in Appalachia, which contributed to lower revenues. With coal demand slumping, Arch Coal’s stock price has been in freefall since…

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