Warrior Met Coal (HCC) Reports In-Line Q3 EPS

Warrior Met Coal (NYSE: HCC) reported Q3 EPS of ($0.28), in-line with the analyst estimate of ($0.28).

“During the third quarter, we saw the continued impact of COVID-19 on pricing and demand across the met coal industry, including our lowest-ever realized met coal price per ton since Warrior became a publicly-traded company,” commented Walt Scheller, CEO of Warrior. “However, we started to see better sales volumes in the third quarter compared to the second quarter as customers in our key markets began to restart their operations. In addition, despite challenging headwinds, we were pleased once again to be free cash flow positive. We remained focused on managing the aspects of our business that we can control, achieving our lowest cash cost per short ton. At the same time, we carefully balanced our spending on longer term capex investments in our mines to keep us uniquely well-positioned to benefit from the eventual recovery in steel production, met coal demand, and pricing.”

“We continue to operate our mines in accordance with the Centers for Disease Control and Prevention and state regulators, and have taken additional precautions to protect the health and safety of our employees,” Mr. Scheller concluded.

For earnings history and earnings-related data on Warrior Met Coal (HCC) click here.

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