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Sep 30, 2020
Warrior Met Coal Q3 2020 Earnings Report
Reported a net loss due to the continued impact of COVID-19 on pricing and demand.
Key Takeaways
Warrior Met Coal reported a net loss of $14.4 million, or $0.28 per diluted share, in Q3 2020, compared to net income of $45.0 million, or $0.87 per diluted share, in Q3 2019. Despite challenging headwinds, the company was free cash flow positive and focused on managing its business and cost control.
Saw the continued impact of COVID-19 on pricing and demand across the met coal industry.
Realized lowest-ever met coal price per ton since Warrior became a publicly-traded company.
Started to see better sales volumes in the third quarter compared to the second quarter as customers in key markets began to restart their operations.
Achieved lowest cash cost per short ton.
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. The Company is also continuing to appropriately adjust its operational needs, including managing its expenses, capital expenditures, working capital, liquidity and cash flows.