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Jun 30, 2020
Warrior Met Coal Q2 2020 Earnings Report
Reported a net loss due to a challenging market environment, but maintained positive cash flow through cost management and capex spending.
Key Takeaways
Warrior Met Coal reported a net loss of $9.2 million for Q2 2020, compared to a net income of $125.5 million in Q2 2019. Despite the challenges, the company maintained positive cash flow and a strong balance sheet.
Experienced a substantial reduction in customer demand and significantly lower pricing.
Successfully managed costs, working capital, and capex spending to preserve financial flexibility.
Maintained a strong balance sheet and adequate liquidity.
Continuing to operate mines in accordance with CDC and state regulators, taking precautions to protect employee health and safety.
Warrior Met Coal
Warrior Met Coal
Forward Guidance
Warrior Met Coal withdrew its full year 2020 guidance due to uncertainties regarding the duration of the COVID-19 pandemic and its impact on the global economy and the Company's operations.