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Dec 31, 2022
Warrior Met Coal Q4 2022 Earnings Report
Reported strong results despite shipment delays and lower average net selling prices.
Key Takeaways
Warrior Met Coal reported a net income of $99.7 million for Q4 2022, with an adjusted net income of $1.90 per diluted share. The company faced shipment delays due to mechanical failures and bad weather, leading to higher inventories and lower shipment volumes. Despite these challenges, customer demand and coal prices remained firm.
Delivered strong results despite shipment delays.
Customer demand and coal prices held firm despite lower steel production globally.
Posted strong net income, record operating cash flows and set Company records for Adjusted EBITDA.
Current liquidity is at a record high.
Forward Guidance
The Company's outlook for 2023 is subject to many risks that may impact performance, such as the labor strike, ongoing mechanical issues at the McDuffie Terminal at the Port of Mobile, ongoing rail transportation issues, market conditions in the steel and met coal industries and overall global economic and competitive conditions
Positive Outlook
- Coal sales of 6.6 - 7.2 million short tons
- Coal production of 6.3 - 6.9 million short tons
- Capital expenditures for sustaining existing mines of $95 - $105 million
- Blue Creek project and other discretionary capital expenditures of $325 - $345 million
- Mine development costs of $10 - $14 million
Challenges Ahead
- Four planned longwall moves (Q1, Q2, and Q3 has two moves)
- HCC index pricing
- Exclusion of other non-recurring costs
- New labor contract
Historical Earnings Impact
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Avg. Return Before/After Earnings
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