WARRIOR MET COAL (HCC) Company Report

Warrior Met Coal published its 2025 Corporate Responsibility Report, noting a 53% lower total safety incidence rate than the national average for underground coal mines as of June 30, 2025.
The company achieved a 27.1% reduction in total Scope 1 and Scope 2 emissions compared to its 2021 baseline, progressing towards a 50% reduction goal by 2030.
In 2025, dry slurry systems at Mine No. 7 and Blue Creek Mine reached full operational status, advancing efforts to achieve a 25% water usage reduction goal by 2030.
Warrior also brought its Blue Creek Mine online in 2025, which increased its nameplate capacity by 88%.

Feb 19, 2026, 9:05 PM

Press Release

Warrior Met Coal Reports Strong Q4 2025 Results and Outlines 2026 Growth and Shareholder Return Plans

HCC

Earnings

Guidance Update

Dividends

Warrior Met Coal reported strong financial performance for Q4 2025, with Adjusted EBITDA of $93 million, a 75% increase compared to Q4 2024, and net income of $23 million or $0.44 per diluted share.
For the full year 2025, the company achieved record high sales volume of 9.6 million short tons and production volume of 10.2 million short tons, significantly boosted by the Blue Creek longwall beginning production 8 months ahead of schedule.
Looking to 2026, Warrior Met Coal anticipates sales volumes to be more than 30% higher and production volumes more than 20% higher than 2025, including approximately 4.5 million tons from the Blue Creek mine.
The company expects to be free cash flow negative in the first half of 2026 due to increased working capital and remaining Blue Creek capital expenditures of $50-$75 million, but projects being free cash flow positive in the second half.
Warrior Met Coal plans to start returning cash to shareholders in the near future, potentially through a higher fixed quarterly dividend, special cash dividends, and selective stock buybacks.

Feb 12, 2026, 9:30 PM

Transcript

Warrior Met Coal Reports Strong Q4 and Full Year 2025 Results, Raises 2026 Guidance

HCC

Earnings

Guidance Update

New Projects/Investments

Warrior Met Coal commenced Blue Creek longwall operations eight months ahead of schedule in Q4 2025, contributing to record quarterly sales volumes of 2.9 million short tons, a 53% increase year-over-year.
In Q4 2025, Adjusted EBITDA surged 75% to $92.9 million, while cash cost of sales decreased 22% to $93.53 per short ton, driven by the inherently lower cost structure of Blue Creek.
For the full year 2025, the company achieved record annual sales volumes of 9.6 million short tons and production volumes of 10.2 million short tons, with annual cash cost of sales reduced by 19% to $101.30 per short ton.
Warrior Met Coal has raised its 2026 guidance, projecting coal sales of 12.5 - 13.5 million short tons and coal production of 12.0 - 13.0 million short tons, attributed to the accelerated Blue Creek longwall startup.
The Blue Creek project has incurred $956.8 million in capital expenditures to date, fully funded by cash from operations, with the total project cost estimated between $995 million and $1.075 billion.

Feb 12, 2026, 9:30 PM

Presentation

Warrior Met Coal Reports Strong Q4 and Full Year 2025 Results, Provides 2026 Guidance

HCC

Earnings

Guidance Update

New Projects/Investments

Warrior Met Coal reported strong Q4 2025 financial results, with Adjusted EBITDA of $93 million, a 75% increase year-over-year, and net income of $23 million or $0.44 per diluted share. Total revenues for the quarter were $384 million.
For the full year 2025, the company achieved record high sales volume of 9.6 million short tons, a 21% increase over 2024, and production volume of 10.2 million short tons, a 24% increase.
The Blue Creek longwall operations began production in Q4 2025, eight months ahead of schedule, with total project capital expenditures to date reaching $957 million. The remaining $50-$75 million in construction capital is expected to be spent in Q1 2026.
For 2026, the company anticipates significantly higher sales and production volumes compared to 2025, with approximately 90% of total sales volume contracted. The PLV price assumption for cost guidance is $185-$215 per short ton.
Free cash flow is expected to be negative in the first half of 2026 due to increased working capital and remaining Blue Creek capital expenditures, becoming positive in the second half. Post-Blue Creek completion, the company's priority will be returning cash to shareholders.

Feb 12, 2026, 9:30 PM

Transcript

Warrior Met Coal Reports Record Q4 and Full-Year 2025 Results, Blue Creek Ahead of Schedule, and Strong 2026 Guidance

HCC

Earnings

Guidance Update

New Projects/Investments

Warrior Met Coal achieved record high sales volume of 2.9 million short tons and production volume of 3.4 million short tons in Q4 2025, contributing to record full-year 2025 sales of 9.6 million short tons and production of 10.2 million short tons.
The Blue Creek longwall operations commenced production 8 months ahead of schedule, on budget, and funded by cash flows, contributing 1.3 million tons in Q4 2025 and driving a 22% decrease in cash cost of sales per short ton to approximately $94. The project's total capital expenditures to date are $957 million.
For 2026, the company projects sales volumes to be more than 30% higher and production volumes more than 20% higher than 2025, with Blue Creek expected to contribute approximately 4.5 million tons. 90% of the 2026 midpoint sales volume is already under contract.
Warrior Met Coal reported $484 million in total available liquidity at the end of Q4 2025 and plans to return cash to shareholders in the near future via a higher fixed quarterly dividend, special cash dividends, and selective stock buybacks.

Feb 12, 2026, 9:30 PM

Transcript

Warrior Met Coal Reports Strong Fourth Quarter and Full Year 2025 Results

HCC

Earnings

Guidance Update

New Projects/Investments

Warrior Met Coal reported net income of $23.0 million or $0.44 per diluted share and Adjusted EBITDA of $92.9 million for the fourth quarter of 2025, with full-year 2025 net income at $57.0 million and Adjusted EBITDA at $256.5 million.
The company achieved record quarterly sales volumes of 2.9 million short tons in Q4 2025 and record full-year sales volumes of 9.6 million short tons for 2025, significantly driven by the Blue Creek mine's longwall operations which commenced eight months ahead of schedule.
Cash cost of sales (free-on-board port) per short ton decreased by 22% to $93.53 in the fourth quarter of 2025, down from $119.55 in Q4 2024, attributed to Blue Creek's lower cost structure and operational efficiency.
Warrior Met Coal raised its volume guidance for 2026 due to the strong operational performance of the Blue Creek mine.
The company declared a regular quarterly cash dividend of $0.08 per share on February 10, 2026, and finalized federal coal leases in Q4 2025, adding 53 million short tons of reserves.

Feb 12, 2026, 9:05 PM

Press Release

Warrior Met Coal Reports Strong Q4 and Full Year 2025 Results, Raises 2026 Volume Guidance

HCC

Earnings

Guidance Update

New Projects/Investments

Warrior Met Coal reported significantly increased net income of $23.0 million and Adjusted EBITDA of $92.9 million for Q4 2025, compared to $1.1 million and $53.2 million respectively in Q4 2024.
The company achieved record quarterly sales volumes of 2.9 million short tons in Q4 2025, a 53% increase year-over-year, and reduced cash cost of sales (free-on-board port) per short ton by 22% to $93.53.
The Blue Creek mine's longwall operations began in October 2025, eight months ahead of schedule, contributing 881 thousand short tons to Q4 2025 sales and driving improved cost performance.
Warrior Met Coal raised its volume guidance for 2026, projecting coal sales of 12.5 - 13.5 million short tons and coal production of 12.0 - 13.0 million short tons, anticipating a substantial step-change with Blue Creek operating for the full year.
The company declared a regular quarterly cash dividend of $0.08 per share and finalized federal coal leases in Q4 2025, adding approximately 53 million short tons of reserves.

Feb 12, 2026, 9:04 PM

8-K

Warrior Met Coal Awarded Federal Coal Leases for Mining Expansion

HCC

New Projects/Investments

Hiring

Warrior Met Coal's subsidiaries, Warrior Met Coal Mining, LLC and Warrior Met Coal BC, LLC, have been awarded federal coal leases by the Bureau of Land Management (BLM).
These leases will enable the expansion of mining operations in Alabama.
The Warrior Met Coal BC, LLC lease covers approximately 8,300 acres with an estimated 36.3 million short tons of recoverable coal, and the Warrior Met Coal Mining, LLC lease covers approximately 5,700 acres with an estimated 16.9 million short tons of recoverable coal reserves.
The new lease areas are projected to support mining operations for over 40 years and create more than 500 new jobs.

Jan 13, 2026, 9:45 PM

Press Release

Warrior Met Coal Announces Strong Q3 2025 Results and Early Blue Creek Longwall Startup

HCC

Earnings

Guidance Update

New Projects/Investments

Warrior Met Coal reported Q3 2025 net income of $37 million ($0.70 per diluted share) and Adjusted EBITDA of $71 million.
The company achieved a significant operational milestone with the early startup of Blue Creek longwall operations in October, approximately eight months ahead of schedule.
This early startup led to an 80% increase in Blue Creek's 2025 production volume guidance to 1.8 million short tons, contributing to an overall 10% increase in full-year 2025 production volume guidance.
Warrior Met Coal also secured an additional 58 million short tons of high-quality steelmaking coal reserves through a federal coal lease sale for $47 million.
Despite ongoing weak steelmaking coal market conditions, the company achieved a record high quarterly sales volume of 2.4 million short tons in Q3 2025.

Nov 5, 2025, 9:30 PM

Transcript

HCC Announces Q3 2025 Results and Operational Milestones

HCC

Earnings

Guidance Update

New Projects/Investments

Blue Creek longwall operations commenced eight months ahead of schedule in October 2025, contributing to record quarterly sales volumes of 2.4 million St in Q3 2025 and an updated and increased production and sales volume guidance for full year 2025. Cash cost of sales (free-on-board port) per St was reduced by 18% to $100.73.
For the three months ended September 30, 2025, revenue was $328.6 million, net income was $36.6 million, and diluted EPS was $0.70.
HCC won the bidding in a federal coal lease sale for 58 million short tons of high-quality steelmaking coal reserves, anticipated to extend the life of the Company's mining operations.
A regular quarterly cash dividend of $0.08 per share was declared.