NYSE$HCC

Warrior Met Coal Inc · Q3 2020 earnings

Q3 2020 earnings · · Investor relations

Briefing

Reported a net loss due to the continued impact of COVID-19 on pricing and demand.

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.

Headline financials

Total Revenue

$180M

Previous: $288M-37.4%
EPS (adj)

-$0.28

Previous: $0.79-135.4%
Tons sold

1.9M

Previous: 2.0M-2.9%
Tons produced

1.9M

Previous: 2.2M-12.8%
Average net selling price

$90.65

Previous: $141.13-35.8%
Adjusted EBITDA

$16.1M

Previous: $82.7M-80.6%
Adjusted EBITDA margin

8.9%

Previous: 28.8%-69.1%
Gross selling price realization

90.0%

Previous: 102.0%-11.8%
Capital Expenditures

-$23.3M

Previous: -$26.3M+11.3%
Free Cash Flow

-$37.7M

Previous: $18.8M-301.2%
Net Income

-$14.4M

Previous: $45M-132.1%
Operating Income

-$14.5M

Previous: $54.6M-126.6%
Gross Profit

$28.7M

Previous: $97.3M-70.5%
Cash & Equivalents

$216M

Previous: $209M+3.7%
Total Assets

$1.39B

Previous: $1.35B+3.1%
Stock-Based Comp

$1.91M

Previous: $1.57M+21.7%

Revenue & EPS history

Warrior Met Coal · Revenue · Quarterly

$180M

Q3 2020-37.4%vs Q3 2019
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

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.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2020

Historical avgQ3 2020

-1.6%

Avg return

Earnings day

-1.1%

Avg return

5 days after

+0.2%

Avg return

30 days after

41%

15 / 37 earnings

Positive

+23.8%

Q3 2025

Best reaction

-21.7%

Q4 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.0%-2.6%+5.1%
Q4 2025+0.2%+1.1%-1.1%
Q3 2025+23.8%+24.8%+23.5%
Q1 2025-5.0%-0.5%-5.0%
Q4 2024-8.4%-7.8%-9.0%
Q3 2024+1.4%+5.3%+12.9%
Q2 2024-10.2%-12.0%-11.3%
Q1 2024-4.2%-5.3%+0.1%
Q4 2023-1.3%-3.1%-9.7%
Q3 2023-0.1%+0.7%+19.8%
Q2 2023-14.7%-8.7%-8.0%
Q1 2023+6.5%+14.6%+4.5%
Q4 2022+1.6%+5.8%-15.8%
Q3 2022-1.5%-0.0%+1.6%
Q2 2022-11.4%-7.0%-0.8%
Q1 2022-9.3%-11.2%+2.4%
Q4 2021+0.3%+0.8%+22.2%
Q3 2021-3.5%-7.7%-10.1%
Q2 2021-1.9%-10.7%+27.0%
Q1 2021-5.1%-9.0%+11.5%
Q4 2020-21.7%-23.2%-32.5%
Q3 2020-2.6%+6.7%+25.1%
Q2 2020-5.9%-1.7%+6.7%
Q1 2020+7.6%+15.4%+20.8%
Q4 2019-14.2%-16.7%-42.7%
Q3 2019-15.2%-10.8%-10.7%
Q2 2019-13.6%-14.1%-16.4%
Q1 2019+6.2%-8.5%-16.7%
Q4 2018+2.6%+1.9%-1.7%
Q3 2018-3.5%-4.0%-13.7%
Q2 2018-3.5%-3.6%-7.0%
Q1 2018+12.3%+14.8%+22.4%
Q4 2016+10.7%+9.0%+4.7%
Q4 2017+10.7%+9.0%+4.7%
Q3 2017+4.2%+5.7%-8.4%
Q2 2017+6.5%+8.2%+20.2%
Q1 2017+4.2%+5.0%-7.0%
Q3 2016
Q2 2016
Q1 2016
Q4 2015

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