Question · Q3 2025
Jonathan Chappelle of Evercore ISI sought clarification on the persistence of coal RPU headwinds, specifically if the pressure would stabilize sequentially or persist year-over-year, and when a stabilization in export coal markets is anticipated.
Answer
Chief Commercial Officer Ed Elkins clarified that while sequential RPU degradation for export coal is not anticipated, year-over-year RPU deterioration will persist, likely through Q4 and early next year, due to sustained weakness in seaborne coal prices. He noted that Q3 saw volume degradation as a result of the poor pricing environment.