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Mar 31, 2025
Warrior Met Coal Q1 2025 Earnings Report
reported first quarter 2025 results
Key Takeaways
Warrior Met Coal reported a net loss in Q1 2025 compared to net income in Q1 2024, primarily due to significantly weaker steelmaking coal market conditions. Despite the challenging market, the company achieved increased sales and production volumes and maintained positive cash margins through strong cost performance.
Net loss of $8.2 million in Q1 2025 compared to net income of $137.0 million in Q1 2024.
Total revenues decreased to $299.9 million in Q1 2025 from $503.5 million in Q1 2024.
Sales volumes increased by 2% to 2.2 million short tons in Q1 2025.
Cash cost of sales (free-on-board port) per short ton decreased to $112.35 in Q1 2025.
Forward Guidance
The company's full year 2025 guidance remains unchanged, not reflecting potential impacts from recent tariff announcements. Further updates are expected in early August 2025.
Positive Outlook
- Startup of Blue Creek longwall on track, on budget, and on schedule for completion no later than Q2 2026.
- Continued progress at Blue Creek project.
- Anticipates approximately 1.0 million short tons of High Vol A steelmaking coal from Blue Creek in the second half of 2025.
- Strong cost performance generated positive margins and positive operating cash flows despite weak markets.
- Confident that unique asset base, flexible cost structure, and high-performing workforce will help navigate challenges.
Challenges Ahead
- Weak market conditions expected to continue.
- Continued pressure on steelmaking coal prices expected.
- Broad economic uncertainty around global trade and seasonal demand weakness.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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