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Mar 31, 2024
Warrior Met Coal Q1 2024 Earnings Report
Reported strong Q1 2024 performance driven by operational improvements and progress in the Blue Creek project.
Key Takeaways
Warrior Met Coal reported a net income of $137.0 million for Q1 2024, with sales volumes up by 9% and production volumes up by 17%. The company invested $68.5 million in the Blue Creek project and returned $30.6 million to stockholders through dividends.
Achieved net income of $137.0 million and adjusted EBITDA of $200.2 million.
Sales volumes increased by 9% and production volumes increased by 17%.
Invested $68.5 million in the continued development of the Blue Creek growth project.
Returned $30.6 million to stockholders through quarterly dividend and special cash dividend.
Forward Guidance
The Company re-affirmed its outlook for 2024.
Positive Outlook
- Coal sales: 7.4 - 8.2 million short tons
- Coal production: 7.4 - 8.0 million short tons
- Capital expenditures for existing mines: $100 - $110 million
- Blue Creek project and other discretionary capital expenditures: $335 - $390 million
- Mine development costs: $28 - $38 million
Challenges Ahead
- Three planned longwall moves remaining (two in Q3 and one in Q4)
- HCC index pricing, geography of sales and freight rates
- Exclusion of other non-recurring costs
- Terms of any new labor contract
- Inflationary pressures
Historical Earnings Impact
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Avg. Return Before/After Earnings
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