Coal producer, Massey Energy releases first quarter financial results, after a coal mine disaster in West Virginia owned by Massey Energy. But report released by coal mining companies not affect the company’s financial results, because the company’s first quarterly financial report made before the coal mine disaster in West Virginia.
Massey is facing lawsuits and federal and state investigations after an explosion killed 29 men at its Upper Big Branch mine in West Virginia on April 5. The blast is the nation’s worst coal mining disaster in 40 years.
Analysts surveyed by Thomson Reuters expect Massey earned 28 cents per share in the period. Massey earned $43.4 million, or 51 cents per share, in first-quarter 2009.
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