High Leverage RiskElevated leverage reduces financial flexibility and increases sensitivity to interest rates and volume shocks. Over a multi-month horizon, high debt levels could constrain capital allocation, limit ability to absorb demand volatility, and elevate refinancing or covenant risks if coal volumes or cash flows weaken.
Concentration On Coal VolumesRevenue dependence on coal throughput exposes the business to secular industry pressures (demand shifts, regulatory limits, mine closures). Structural declines or customer consolidation in coal markets could materially reduce utilization and long-run revenue visibility over the coming months.
Volatile Investing & Financing Cash FlowsIrregular investing and financing activity signals less predictable capital allocation, which can complicate long-term planning. Over a 2-6 month horizon, swings in capex, asset sales, or financing choices could force reactive funding decisions, increasing execution risk and pressure on returns.