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Warrior Met Coal Inc. (HCC-3.81%) has submitted its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The filing details Warrior Met Coal's operations, which focus on mining non-thermal steelmaking coal used in steel production. The company operates two underground mines, Mine No. 4 and Mine No. 7, and is developing the Blue Creek mine.
In 2024, Warrior Met Coal produced 7.5 million metric tons of steelmaking coal, an increase from 6.9 million metric tons in 2023. The company sold 7.2 million metric tons of coal in 2024.
The average net selling price per metric ton of steelmaking coal decreased to $207.32 in 2024 from $241.64 in 2023. The decrease in price contributed to a decline in sales revenue from $1.65 billion in 2023 to $1.50 billion in 2024.
Operating income for 2024 was $254.9 million, a decrease from $541.4 million in 2023. The company reported net income of $250.6 million for 2024, compared to $478.6 million in the previous year.
Warrior Met Coal's capital expenditures for 2024 totaled $457.2 million, with significant investments in the development of the Blue Creek mine. The company expects to spend $225 to $250 million on Blue Creek in 2025.
As of December 31, 2024, Warrior Met Coal had total liquidity of $654.7 million, including $491.5 million in cash and cash equivalents.
The company declared regular quarterly dividends totaling $43.8 million in 2024 and continues to evaluate its capital allocation strategy, including potential stock repurchases and special dividends.
Warrior Met Coal's operations are subject to various risks, including market demand fluctuations, regulatory compliance, and environmental concerns. The company continues to focus on operational efficiency and cost management.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Warrior Met Coal Inc. annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.