AMR 最新10-Q变化
将 AMR 最新的定期申报(10-K/10-Q)与上一份同类型申报逐章节对比:每个章节新增/删除的段落数与原文摘录。全部为确定性文本对比——无相似度评分、无方向判断、非投资建议。
对比:10-Q · 2026-05-08 与上一份 10-Q · 2025-11-06
| 章节 | 结果 | 新增 | 删除 | 微调 | 未变 |
|---|---|---|---|---|---|
| 管理层讨论与分析 | 文字有新增/删除 | +50 | −72 | ~17 | 10 |
| 市场风险(第3项) | 文字有新增/删除 | +2 | −4 | ~2 | 2 |
| 控制与程序 | 文字有新增/删除 | +2 | −1 | 0 | 3 |
| 法律诉讼 | 文字有新增/删除 | +1 | −1 | 0 | 0 |
| 风险因素 | 文字有新增/删除 | 0 | −6 | ~1 | 0 |
| 其他信息 | 文字有新增/删除 | +2 | −5 | 0 | 1 |
计数单位为段落;"新增/删除"指相对上一份文件新增/删除的文字,不含方向或好坏判断。
代表性摘录
每个章节最多 5 条、每条约 300 字符的原文摘录,直接来自两份 SEC 文件。
管理层讨论与分析
相对上期新增的文字 · 来源:10-Q · 2026-05-08
Geopolitical and weather-related supply issues influenced metallurgical coal markets in the first quarter of 2026, with the war in Iran causing increased volatility in the energy sector. While not directly linked to war-related electricity generation and power concerns, metallurgical coal markets al…
In the first quarter of 2026, metallurgical coal prices experienced positive movements across the indices. Of the four indices Alpha closely monitors, the Australian Premium Low Volatile index represents the largest increase of 8.6%. The Australian Premium Low Volatile index increased from $218.00 p…
The world manufacturing Purchasing Managers’ Index (“PMI”) posted a March PMI of 51.3, representing a decline from February’s 44-month high of 51.8. China’s PMI fell from 52.1 in February to 50.8 in March. India, an important market for Alpha, recorded a PMI of 53.9 in March, down from 56.9 in Febru…
As compiled by the World Steel Association ("WSA"), the March 2026 global crude steel production reached 159.9 million metric tons from 69 countries, representing a decrease of 4.2% compared to March 2025. China, the world's largest steel-producing country, produced 87.0 million metric tons in March…
In the seaborne thermal market, the API2 index was $95.05 per metric ton on January 2, 2026, and increased to $125.75 per metric ton on March 31, 2026.
相对上期删除的文字 · 来源:10-Q · 2025-11-06
As steel demand remained subdued, metallurgical coal markets experienced slight fluctuations during the third quarter but have been largely range-bound over the prior six-month period. The global economic outlook continues to be clouded with uncertainty surrounding policy changes, geopolitical unres…
Metallurgical coal prices have remained depressed throughout the third quarter of 2025, despite various movements across indices. Of the four indices Alpha closely monitors, the Australian Premium Low Volatile index represents the most significant move, an increase of 9.6%. The Australian Premium Lo…
The world manufacturing Purchasing Managers’ Index (“PMI”) recorded a September PMI of 50.8, showing minimal change from August’s 14-month high PMI of 50.9. China’s PMI rose from its August level of 50.5 to 51.2 in September. India, a key market for Alpha, recorded a September PMI of 57.7, down from…
As reported by the World Steel Association ("WSA"), September 2025 global crude steel production of 141.8 million metric tons from 70 countries represented a 1.6% decrease from September 2024. China, the world's largest steel-producing country, posted the most significant percentage drop of the top …
In the seaborne thermal market, the API2 index was $107.95 per metric ton as of July 1, 2025, and decreased to $95.40 per metric ton on September 30, 2025.
市场风险(第3项)
相对上期新增的文字 · 来源:10-Q · 2026-05-08
As of March 31, 2026, we maintain a senior secured asset-based revolving credit facility, under which we may borrow up to $225.0 million (less amounts outstanding for LCs). Any cash borrowings under the facility would bear a floating rate of interest. No cash borrowings were outstanding under the fa…
As of March 31, 2026 and December 31, 2025, we had investments in trading securities of $84.0 million and $83.9 million, respectively, primarily consisting of U.S. government securities. While the fair value of these investments is exposed to risk with respect to changes in market rates of interest,…
相对上期删除的文字 · 来源:10-Q · 2025-11-06
Budgeted Usage in Gallons % Priced Average Realized Price per Gallon
As of September 30, 2025, we maintain a senior secured asset-based revolving credit facility, under which we may borrow up to $225.0 million (less amounts outstanding for LCs). Any cash borrowings under the facility would bear a floating rate of
interest. No cash borrowings were outstanding under the facility as of September 30, 2025 or December 31, 2024. Refer to Note 8 for additional information. Also refer to the “Financial Statements and Supplementary Data—Note 13” section contained in our Annual Report on Form 10-K for the year ended D…
As of September 30, 2025 and December 31, 2024, we had investments in trading securities of $83.6 million and $43.1 million, respectively, primarily consisting of U.S. government securities. While the fair value of these investments is exposed to risk with respect to changes in market rates of inter…
控制与程序
相对上期新增的文字 · 来源:10-Q · 2026-05-08
We maintain disclosure controls and procedures as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that are designed to ensure that information we are required to disclose in reports that we file or submit under the Exc…
within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer (“CEO”) and our Chief Financial Officer (“CFO”), as appropriate, to allow timely decisions regarding required disclosures…
相对上期删除的文字 · 来源:10-Q · 2025-11-06
We maintain disclosure controls and procedures as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that are designed to ensure that information required to be disclosed by the Company in reports that it files or submits…
法律诉讼
相对上期新增的文字 · 来源:10-Q · 2026-05-08
For a description of our legal proceedings, refer to Note 14, part (d), to the Condensed Consolidated Financial Statements.
相对上期删除的文字 · 来源:10-Q · 2025-11-06
For a description of the Company’s legal proceedings, refer to Note 14, part (d), to the unaudited Condensed Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q, which is incorporated herein by reference.
风险因素
相对上期删除的文字 · 来源:10-Q · 2025-11-06
A period of sustained low demand for metallurgical coal (or “met coal”) by U.S. and foreign customers and the potential for negative trade impacts resulting from changing and unpredictable tariff policies could reduce the price of our coal, which would reduce our revenues.
Alpha produces coal that is sold directly to both U.S. and foreign customers and indirectly to foreign customers through U.S.-based companies. For the nine months ended September 30, 2025 and the year ended December 31, 2024, coal export revenues accounted for approximately 73% and 78% of our coal r…
For the nine months ended September 30, 2025 and the year ended December 31, 2024, met coal accounted for approximately 96% and 97% of our coal revenues, respectively. Any deterioration in conditions in the U.S. or foreign steel industries, including the demand for steel and the continued financial …
The demand for foreign-produced steel both in foreign markets and in the U.S. market also depends substantially on other factors such as tariff rates on steel. For example, in March 2025, President Trump implemented 25% tariffs, in addition to any existing special rates, on steel and aluminum pursua…
Further, as noted by the Federal Reserve’s April 2025 Beige Book, “uncertainty around international trade policy was pervasive” in early 2025, and in many sectors companies have, because of “on-again, off-again tariffs,” delayed capital expenditures and expressed concern regarding increasing inflati…
其他信息
相对上期新增的文字 · 来源:10-Q · 2026-05-08
During the quarter ended March 31, 2026, no director or officer adopted or terminated:
(i) Any contract, instruction or written plan for the purchase or sale of our securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c); or
相对上期删除的文字 · 来源:10-Q · 2025-11-06
(a) On May 6, 2025, the Company entered into the First Amendment to Credit Agreement and Security Agreement (the “First Amendment”), which amends (i) the Credit Agreement dated as of October 27, 2023 (the “Credit Agreement”), by and among the Company, certain Subsidiaries of the Company, as borrower…
Pursuant to the First Amendment, the Credit Agreement was amended to, among other changes, (i) increase the revolving commitments, and the letter of credit sublimit, under the Credit Agreement to $225 million, (ii) increase the swingline sublimit to $22.5 million, (iii) reduce the interest rate marg…
The above summary of the First Amendment is not a complete description thereof and is qualified in its entirety by the full text of such agreement which was filed as Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025.
During the quarter ended September 30, 2025, no director or officer adopted or terminated:
(i) Any contract, instruction or written plan for the purchase or sale of securities of the Company intended to satisfy the affirmative defense conditions of Rule 10b5-1(c); or
如何读 10-Q 的风险因素(第 1A 项)
10-Q 的风险因素章节有三种常见形态,本页按其一分类展示:
- 指向(pointer) — 公司仅声明"无重大变化"并指向年度 10-K 的完整风险因素;本季没有自己的风险文本可对比。
- 部分更新(partial) — 公司写明"除下述外无重大变化",只更新部分风险;摘录展示的正是本季新增的内容。
- 全文重述(restated) — 本季重新给出完整风险因素。若上一季只是"指向",则无法逐段对比,本页会将其标为"本季全文重述"。
这只是对文件结构的客观描述,不构成对风险高低的判断。
数据来自 SEC EDGAR 两份申报文件的文本级对比 · 确定性计算(无 AI 生成内容)· 仅供参考 · 非投资建议