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Jun 30, 2024
Warrior Met Coal Q2 2024 Earnings Report
Reported net income of $70.7 million and EPS of $1.35 per diluted share, driven by an increase in sales and production volumes.
Key Takeaways
Warrior Met Coal reported a strong second quarter in 2024, with net income of $70.7 million and EPS of $1.35 per diluted share. The company saw an increase in sales and production volumes, achieving its largest quarterly production in over three years. The company reaffirmed its outlook for 2024 and is progressing with the Blue Creek growth project.
Net income for Q2 2024 was $70.7 million, or $1.35 per diluted share.
Sales volumes increased by 18% compared to Q2 2023.
Production volumes increased by 13%, marking the largest quarterly production in over three years.
The company invested $84.1 million in the Blue Creek growth project and completed key milestones.
Forward Guidance
The Company re-affirmed its guidance for the full year 2024 with a non-material change to interest expense.
Positive Outlook
- Coal sales between 7.4 - 8.2 million short tons
- Coal production between 7.4 - 8.0 million short tons
- Capital expenditures for existing mines $100 - $110 million
- Mine development costs $28 - $38 million
- Interest income $20 - $25 million
Challenges Ahead
- Cash cost of sales (free-on-board port) $125 - $135 per short ton
- Blue Creek project and other discretionary capital expenditures $335 - $390 million
- Selling, general and administrative expenses $55 - $65 million
- Interest expense $4 - $6 million
- Income tax expense 14% - 18%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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