Aug 3, 2011
Walter Energy (NYSE:WLT) reported adjusted Q2 EPS of $2.36, missing analyst estimates of $4.07. Revenues for the quarter rose 88.3% to $773.00 million, missing consensus estimates of $927.16 million.
Joe Leonard, interim chief executive officer said, "Walter Energy continues to execute on its long-term strategic plan to grow its met coal production base, highlighted by the acquisition of Western in April and our execution of lease agreements on 68 million metric tons of Blue Creek coal reserves in May."
Walter Energy is currently below its 50-day moving average (MA) of $117.23 and below its 200-day MA of $118.62. In the last five trading sessions, the 50-day MA has remained constant while the 200-day MA has risen 0.4%.
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