Walter Industries (WLT) A Turnaround Message Board

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Non-Tech : Walter Industries (WLT) A Turnaround

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From: Condo	5/12/2008 12:53:50 PM
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May 12, 2008 Walter Industries expects coal boom It is reported that shares in Walter Industries Inc rose 7.74% after the company reported expectations of record earnings, record coal sales contracts and additional steps that could lead to selling the financing and home building businesses. Mr Michael Tokarz chairman of Walter Industries said that "We are confident that our higher coal and coke prices, along with our expanding metallurgical coal production, will lead to record earnings for Walter Industries in 2008.” Walter Industries previously said that selling or spinning off its financing and home building groups are among its strategic options as the company changes its focus to ventures more profitable than its once mainstay housing industry. Walter Industries officials said the company has contracts for 2 million tonne of coal at USD 315 per tonne and expects to arrange contracts in the next few weeks for another 1.1 million tonnes at a similar price. In addition, Walter will price 0.6 million tonnes of coal later this year that will be available in the second quarter of 2009. Walter Industries said coal production costs are expected to range between USD 45 and USD 50 per ton for the full year. It said that its operating margin per tonne of coal would increase from USD 8 in the first quarter to an estimated USD 20 to USD 21 for the second quarter, to USD 75 to USD 81 for the third quarter and USD 90 to USD 96 for the fourth quarter. ttp://steelguru.com/news/index/2008/05/12/NDUwNzQ%3D/Walter_Industries_expects_coal_boom.html

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