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Sep 30, 2022
Warrior Met Coal Q3 2022 Earnings Report
Reported net income of $98.4 million and Adjusted EBITDA of $171.6 million, achieving record total liquidity of $869.0 million.
Key Takeaways
Warrior Met Coal reported a strong third quarter in 2022, with net income reaching $98.4 million and Adjusted EBITDA at $171.6 million. The company achieved record total liquidity of $869.0 million, driven by efficient operations and high-quality assets, despite facing shipment delays and macroeconomic headwinds.
Net income for the third quarter of 2022 was $98.4 million, or $1.90 per diluted share.
Adjusted EBITDA reached $171.6 million in the third quarter of 2022.
Sales volume was 1.5 million short tons, and production was 1.6 million short tons of met coal.
Total liquidity reached a record high of $869.0 million.
Forward Guidance
Warrior updated its guidance for the full year 2022, which we expect to be further impacted in the fourth quarter by the continued shipment delays and other factors noted below.
Positive Outlook
- Significant coal inventories
- Record total liquidity
- Gradual improvements in shipping delays during the final few weeks of the quarter
- Expectation of shipping delays to continue improving in the fourth quarter
- Strong demand from customers and constrained global met coal supply
Challenges Ahead
- Continued shipment delays
- One planned longwall move (Q4)
- HCC index pricing
- New labor contract
- Inflationary pressures
Historical Earnings Impact
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Avg. Return Before/After Earnings
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