Warrior Met Coal Inc

Latest Results (13.06.2024):

Net Income and EBITDA

Warrior Met Coal Inc. reported a net income of $137.0 million for the first quarter of 2024, a decrease from the net income of $182.3 million recorded in the same quarter of the previous year. The company also saw a decrease in Adjusted EBITDA, which was $200.2 million for the first quarter of 2024 compared to $259.4 million in the first quarter of 2023.

Production and Sales Volume

In the first quarter of 2024, Warrior Met Coal Inc. achieved a 17% increase in production volumes, producing 2.1 million short tons of steelmaking coal. This production boost contributed to a 9% increase in sales volume, totaling 2.1 million short tons compared to 1.9 million short tons in the first quarter of 2023.

Revenue and Cost of Sales

Warrior Met Coal Inc. recorded total revenues of $503.5 million in the first quarter of 2024, slightly down from $509.7 million in the same quarter of the previous year. The cost of sales increased to $285.6 million in the first quarter of 2024 from $232.6 million in the first quarter of 2023, primarily due to higher royalty rates and increased labor and supply costs.

Dividends and Capital Expenditures

The company returned $30.6 million to its shareholders through dividends in the first quarter of 2024. Additionally, Warrior Met Coal Inc. invested significantly in capital expenditures, spending $68.5 million on the development of the Blue Creek mine and $33.2 million on sustaining capital expenditures.

Cash Flow and Liquidity

Warrior Met Coal Inc. generated $104.1 million in cash flows from operating activities during the first quarter of 2024. The company's total liquidity as of March 31, 2024, was $801.3 million, which included cash and cash equivalents of $693.9 million and available liquidity under its ABL Facility of $107.4 million.