$HCC

WARRIOR MET COAL, INC.

CIK:0001691303|SEC Filings

CONDENSED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Total revenues	$ 509,690	$ 297,523	$ 968,278	$ 597,466
Costs and expenses:
Cost of sales (exclusive of items shown separately below)	340,046	226,412	630,464	472,147
Cost of other revenues (exclusive of items shown separately below)	7,033	8,210	15,363	16,083
Depreciation and depletion	58,293	43,255	110,566	88,532
Selling, general and administrative	9,797	11,923	37,996	30,365
Total costs and expenses	415,169	289,800	794,389	607,127
Operating income (loss)	94,521	7,723	173,889	(9,661)
Interest expense	(5,526)	(2,890)	(8,697)	(4,997)
Interest income	2,145	5,083	4,732	10,376
Income (loss) before income tax expense (benefit)	91,140	9,916	169,924	(4,282)
Income tax expense (benefit)	3,711	4,310	10,154	(1,720)
Net income (loss)	$ 87,429	$ 5,606	$ 159,770	$ (2,562)
Basic and diluted net income (loss) per share:
Net income (loss) per share - basic	$ 1.65	$ 0.11	$ 3.03	$ (0.05)
Net income (loss) per share - diluted	$ 1.65	$ 0.11	$ 3.03	$ (0.05)
Weighted average number of shares outstanding - basic	52,832	52,588	52,778	52,526
Weighted average number of shares outstanding - diluted	52,871	52,616	52,813	52,526
Dividends per share:	$ 0.08	$ 0.08	$ 0.16	$ 0.16
Sales
Revenues:
Total revenues	$ 503,594	$ 288,491	$ 952,063	$ 583,424
Other revenues
Revenues:
Total revenues	$ 6,096	$ 9,032	$ 16,215	$ 14,042

CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net Income (Loss)	$ 159,770	$ (2,562)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and depletion	110,566	88,532
Deferred income tax benefit	(6,427)	(3,345)
Stock based compensation expense	12,577	10,098
Amortization of debt issuance costs and debt discount	752	814
Accretion of asset retirement obligations	2,225	2,662
Mark-to-market loss on gas hedges	0	415
Changes in operating assets and liabilities:
Trade accounts receivable	(81,824)	(26,598)
Inventories, net	(30,665)	(7,531)
Prepaid expenses and other receivables	(11,756)	(7,304)
Accounts payable	8,590	19,635
Accrued expenses and other current liabilities	(43,855)	(23,550)
Other	598	(2,803)
Net cash provided by operating activities	120,551	48,463
INVESTING ACTIVITIES
Purchase of property, plant and equipment	(109,052)	(143,476)
Deferred mine development costs	0	(30,122)
Proceeds from sale of short-term investments	33,279	1,501
Proceeds from sale of property, plant and equipment	45	0
Net cash used in investing activities	(75,728)	(172,097)
FINANCING ACTIVITIES
Dividends paid	(8,963)	(9,410)
Proceeds from equipment financing	0	48,771
Principal repayments of finance lease obligations	(18,576)	(14,487)
Payments for taxes related to net share settlement of equity awards	(14,771)	(9,384)
Net cash (used in) provided by financing activities	(42,310)	15,490
Net increase (decrease) in cash, cash equivalents and restricted cash	2,513	(108,144)
Cash, cash equivalents and restricted cash at beginning of period	307,849	499,132
Cash, cash equivalents and restricted cash at end of period	310,362	390,988
Cash and cash equivalents	302,346	383,251
Restricted cash	8,016	7,737
Cash, cash equivalents and restricted cash	$ 310,362	$ 390,988

CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 302,346	$ 299,963
Short-term investments	20,152	53,252
Trade accounts receivable	263,415	181,591
Inventories, net	264,884	235,936
Prepaid expenses and other receivables	66,841	49,513
Total current assets	917,638	820,255
Restricted cash	8,016	7,886
Mineral interests, net	103,001	107,258
Property, plant and equipment, net	1,841,421	1,817,364
Deferred income taxes	2,875	2,947
Other long-term assets	27,510	28,089
Total assets	2,900,461	2,783,799
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	78,773	66,077
Accrued expenses	98,082	131,881
Asset retirement obligations	5,473	5,473
Short-term financing lease liabilities	32,038	29,669
Federal coal lease obligations	9,100	8,844
Other current liabilities	10,209	15,077
Total current liabilities	233,675	257,021
Long-term debt	154,591	154,252
Asset retirement obligations	66,242	64,755
Black lung obligations	34,461	34,036
Long-term financing lease liabilities	49,203	54,492
Deferred income taxes	47,681	54,179
Federal coal lease obligations	24,389	23,679
Total liabilities	610,242	642,414
Stockholders’ Equity:
Common stock, $0.01 par value, (140,000,000 shares authorized as of June 30, 2026, and December 31, 2025; 55,023,805 issued and 52,801,964 outstanding as of June 30, 2026; 54,791,997 issued and 52,570,156 outstanding as of December 31, 2025)	550	548
Preferred stock, $0.01 par value per share (10,000,000 shares authorized; no shares issued and outstanding)	0	0
Treasury stock, at cost (2,221,841 shares as of June 30, 2026, and December 31, 2025)	(50,576)	(50,576)
Additional paid in capital	298,513	300,710
Retained earnings	2,041,732	1,890,703
Total stockholders’ equity	2,290,219	2,141,385
Total liabilities and stockholders’ equity	$ 2,900,461	$ 2,783,799