Massey executives expected to provide details on expected Q2 loss from fatal W.Va. explosion

Massey executives plan briefing on outlook

CHARLESTON, W.Va. — Massey Energy’s top executives are due to speak to Wall Street for the first time since an explosion killed 29 men at the company’s Upper Big Branch coal mine in West Virginia.

A conference call with securities analysts is scheduled for 9 a.m. EDT Thursday.

Massey expects the second-quarter loss from the mine explosion to range between $80 million and $150 million, including benefits to employees and damage to the mine.

The company predicted the loss after releasing lower first-quarter earnings Wednesday.

Massey, based in Richmond, Va., earned $33.6 million, or 39 cents per share, in the period. The company earned $43.4 million, or 51 cents per share, in first-quarter 2009.

Analysts surveyed by Thomson Reuters expected 28 cents per share.