METC — what changed in the latest 10-Q
A section-by-section comparison of METC's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-11-03 vs the prior 10-Q · 2026-08-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +29 | −24 | ~32 | 28 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 3 |
| Legal proceedings | Text added/removed | +1 | −1 | 0 | 0 |
| Risk factors | Some risk factors updated | +2 | −3 | ~3 | 4 |
| Other information | Text added/removed | 0 | −2 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-11-03
Global metallurgical coal markets remained relatively soft in the third quarter of 2026 due to constrained economic growth in some regions of the world and continued conflict overseas. Reduced global steel production and oversupply in
the market have led to a reduction in the price steel producers are willing to pay for their metallurgical coal feedstock; however, U.S. metallurgical coal indices and spot prices increased modestly in Q3 2026 as supply cuts have begun occurring for higher cost operations. Longer term, the Company b…
During the nine months ended September 30, 2026, we sold 3.0 million tons of coal and recognized $416.5 million of revenue. Of this amount, 31% of our revenue was from sales into North American markets, including Canada, and 69% of our revenue was from sales into export markets. During the same peri…
As of September 30, 2026, the Company had outstanding performance obligations of approximately 2.1 million tons for contracts with fixed sales prices averaging $139 per ton, excluding freight revenue, as well as 1.2 million tons for contracts with index-based pricing mechanisms. The Company expects …
The Company continues to move forward with its potential rare earth elements and other critical minerals deposit evaluation at the Brook Mine. The timeline for our rare earth elements and other critical minerals initiatives is subject to the completion of ongoing test work, engineering studies, and …
Text removed vs the prior filing · source: 10-Q · 2026-08-05
Global metallurgical coal markets remained soft in the second quarter of 2026 due to constrained economic growth in some regions of the world and continued conflict overseas. Reduced global steel production and oversupply in the market have led to a reduction in the price steel producers are willing…
During the six months ended June 30, 2026, we sold 1.9 million tons of coal and recognized $266.4 million of revenue. Of this amount, 29% of our revenue was from sales into North American markets, including Canada, and 71% of our revenue was from sales into export markets. During the same period of …
As of June 30, 2026, the Company had outstanding performance obligations of approximately 0.7 million tons for contracts with fixed sales prices averaging $139 per ton, excluding freight, as well as 1.6 million tons for contracts with index-based pricing mechanisms. The Company expects to satisfy ap…
The Company continues to move forward with its potential rare earth elements and other critical minerals deposit evaluation at the Brook Mine. The timeline for our rare earth elements and other critical minerals initiatives is subject to the completion of ongoing test work, engineering studies, and …
In the first six months of 2026, our segment capital expenditures were $6.7 million, excluding capitalized interest of $0.3 million. In the first six months of 2025, our segment capital expenditures were $0.5 million. The increase in capital expenditures was attributable to the continued expansion o…
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-11-03
Due to the nature of our business, we may become, from time to time, involved in routine litigation or subject to disputes or claims related to our business activities. The outcome of these proceedings cannot be predicted with certainty. For a description of our legal proceedings, see “Litigation” i…
Text removed vs the prior filing · source: 10-Q · 2026-08-05
Due to the nature of our business, we may become, from time to time, involved in routine litigation or subject to disputes or claims related to our business activities. While the outcome of these proceedings cannot be predicted with certainty, in the opinion of our management, there are no pending l…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-11-03
The ongoing wars in Ukraine and the Middle East have had a broad range of adverse impacts on global economic conditions, some of which have had and are likely to continue to have adverse impacts on our business, including increased raw material and energy costs, softer customer demand and lower stee…
Additionally, we are also exposed to risks associated with the business success and creditworthiness of our suppliers and customers. If our customers or suppliers are negatively impacted by a slowdown in economic markets, we may face the reduction, delay or cancellation of customer orders, delays or…
Text removed vs the prior filing · source: 10-Q · 2026-08-05
exports of energy and raw materials, and trade remedies. Actions taken by the U.S. government could affect our results of operations, cash flows and liquidity.
The ongoing wars in Ukraine and Iran have had a broad range of adverse impacts on global economic conditions, some of which have had and are likely to continue to have adverse impacts on our business, including increased raw material and energy costs, softer customer demand and lower steel prices.
Additionally, we are also exposed to risks associated with the business success and creditworthiness of our suppliers and customers. If our customers or suppliers are negatively impacted by a slowdown in economic markets, we may face the reduction, delay or cancellation of customer orders, delays or…
Other information
Text removed vs the prior filing · source: 10-Q · 2026-08-05
By letter dated March 25, 2026, the staff of the Division of Corporation Finance of the SEC (the "Staff") issued written comments to the Company regarding its Form 10-K for the fiscal year ended December 31, 2025. The comments relate to the Company's disclosures concerning the Brook Mine Rare Earth …
On July 24, 2026, in response to the Staff’s comments, the Company filed Amendment No. 1 to its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, with the SEC. On July 28, 2026, the Company received a letter from the Staff stating that it has completed its review of the Company…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice