Financial Performance - Revenue decreased by 40% to $299.9 million in Q1 2025, compared to $503.5 million in Q1 2024[15] - Net loss was $8.2 million in Q1 2025, a 106% decrease compared to a net income of $137.0 million in Q1 2024[15] - Adjusted EBITDA decreased by 80% to $39.5 million in Q1 2025, compared to $200.2 million in Q1 2024[15] - Free cash flow was negative $68.4 million in Q1 2025, a 2,950% decrease compared to $2.4 million in Q1 2024[15] - Average net selling price decreased by 42% to $135.79 per short ton in Q1 2025, compared to $233.91 per short ton in Q1 2024[15] Production and Sales - Production volumes increased by 10% to 2,254 thousand short tons in Q1 2025, compared to 2,051 thousand short tons in Q1 2024, attributable to Blue Creek[11, 15] - Sales volumes increased by 2% to 2,172 thousand short tons in Q1 2025, compared to 2,129 thousand short tons in Q1 2024[11, 15] Blue Creek Project - $55.3 million was invested in the Blue Creek project in Q1 2025, bringing the total project-to-date capital expenditures to $771.8 million[11] - Blue Creek produced 251 thousand short tons in Q1 2025[11, 24] - Longwall startup at Blue Creek is expected no later than Q2 2026[8, 11, 24, 33] - Total capital expenditure estimate for Blue Creek project reiterated in a range of $995 million to $1.075 billion[30]

Financial Data and Key Metrics Changes - For Q1 2025, the company recorded a net loss of $8 million or $0.16 per diluted share, compared to a net income of $137 million or $2.62 per diluted share in Q1 2024, primarily due to a 42% decrease in realized average net selling prices [27][28] - Adjusted EBITDA for Q1 2025 was $40 million, down from $200 million in the same quarter last year, with an adjusted EBITDA margin of 13% compared to 40% in Q1 2024 [27][28] - Total revenues decreased to $300 million in Q1 2025 from $504 million in Q1 2024, driven by lower average gross selling prices [28] Business Line Data and Key Metrics Changes - Sales volume increased by 2% to 2.2 million short tons in Q1 2025 from 2.1 million short tons in the same quarter last year, with production volume rising by 10% to 2.3 million short tons [14][15] - The company achieved a gross price realization of 83% for Q1 2025, slightly below the targeted range of 85% to 90% [12][28] Market Data and Key Metrics Changes - Average premium low vol index prices dropped by 40% to $168 per short ton in Q1 2025 from $280 per short ton in Q1 2024 [8] - The primary index, the POV FOB Australia, ended Q1 2025 at $153 per short ton, down $25 from the end of Q4 2024 [12] - Global pig iron production decreased by 0.2% in Q1 2025 compared to the prior year, with iron production in China growing by 0.8% [13] Company Strategy and Development Direction - The company is focused on operational efficiency and cost management to navigate weak market conditions, while continuing to progress on the Blue Creek project, which is on budget and schedule [6][21] - The Blue Creek project is expected to produce 1 million short tons in 2025, with a long-term capacity of 6 million short tons [23][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing weak market conditions but expressed confidence in operational performance and the ability to manage costs effectively [6][34] - The company anticipates that weak market conditions may persist, impacting steelmaking coal prices, but expects stable demand from contracted customers [34][36] Other Important Information - The company spent $79 million on capital expenditures and mine development in Q1 2025, with $69 million allocated to CapEx [16][21] - Total available liquidity at the end of Q1 2025 was $617 million, providing sufficient funds to complete the Blue Creek project [32][21] Q&A Session Summary Question: Pricing realization expectations - Management indicated that pricing realization could remain between 80% to 85% in the current market environment [38] Question: Cost sustainability in the near term - Management confirmed that the current cost level of $120 per ton is sustainable if prices remain stable [42] Question: Impact of tariffs on longwall shields - Management clarified that there would be no tariff impacts on the longwall shields being imported [43] Question: Factors driving lower price realizations - Management explained that transportation differentials and market conditions in Asia are significant factors affecting price realizations [48] Question: Production outlook and potential curtailments - Management acknowledged the challenges in the U.S. met coal market and indicated that some production curtailments may occur [52] Question: Capital expenditures for Blue Creek - Management detailed that the remaining CapEx for Blue Creek would primarily cover final construction and labor costs [56] Question: Working capital trends - Management indicated that working capital is expected to build in the second quarter due to production at Blue Creek [60] Question: U.S. pricing reflection of the market - Management expressed confidence that U.S. prices are reflective of current market conditions, with expectations for the discount to tighten over time [65]

Financial Data and Key Metrics Changes - For Q1 2025, the company recorded a net loss of $8 million or $0.16 per diluted share, compared to a net income of $137 million or $2.62 per diluted share in Q1 2024, primarily due to a 42% decrease in realized average net selling prices [25][27] - Adjusted EBITDA for Q1 2025 was $40 million, down from $200 million in the same quarter last year, with an adjusted EBITDA margin of 13% compared to 40% in Q1 2024 [25][26] - Total revenues decreased to $300 million in Q1 2025 from $504 million in Q1 2024, driven by lower average gross selling prices [27] Business Line Data and Key Metrics Changes - Sales volume increased by 2% to 2.2 million short tons in Q1 2025 from 2.1 million short tons in Q1 2024, with production volume rising by 10% to 2.3 million short tons [14][15] - The company achieved a gross price realization of 83% for Q1 2025, slightly below the targeted range of 85% to 90% [12][25] Market Data and Key Metrics Changes - Average premium low vol index prices dropped by 40% or $112 per short ton compared to Q1 2024, averaging $168 per short ton in Q1 2025 [7][12] - The primary index, the POV FOB Australia, ended Q1 2025 at $153 per short ton, down $25 from the end of Q4 2024 [12] - Global pig iron production decreased by 0.2% in Q1 2025 compared to the prior year, with iron production in China growing by 0.8% [13] Company Strategy and Development Direction - The company is focused on managing costs tightly and operating efficiently in response to weak market conditions, while making progress on the Blue Creek project, which is on budget and schedule [6][17] - The Blue Creek project is expected to produce incremental annualized production of at least 4.8 million short tons after startup, enhancing the company's cost curve positioning [22][21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges in the global steel market due to China's overcapacity and trade policy uncertainties, but expects demand from India to increase [34] - The company anticipates weak market conditions may persist, putting downward pressure on steelmaking coal prices, but remains optimistic about operational performance [32][34] Other Important Information - The company spent $79 million on CapEx and mine development in Q1 2025, with $69 million allocated to CapEx and $11 million to Blue Creek project development [16][20] - Total available liquidity at the end of Q1 2025 was $617 million, consisting of cash, investments, and available credit [31] Q&A Session Summary Question: Pricing assumptions for the current market environment - Management indicated that a price realization of 80% to 85% is reasonable given current market conditions [36] Question: Sustainability of cost levels in Q2 - Management confirmed that current cost levels are expected to be sustainable if prices remain stable [39] Question: Factors driving lower price realizations - Management explained that transportation differentials and market dynamics in Asia are significant factors affecting price realizations [45][46] Question: Production outlook and potential curtailments - Management noted that while there are rumors of production issues, it is difficult to estimate the overall impact on U.S. production [50] Question: Clarification on Blue Creek project CapEx - Management clarified that remaining CapEx will primarily be for final construction and labor, with a significant portion already accounted for [54][56] Question: Impact of shipping Blue Creek coal on costs - Management stated that while there may be some additional costs, they are focused on mitigating any significant impact [66][68]

Financial Performance - Warrior reported a net loss of $8.2 million, or $0.16 per diluted share, in Q1 2025, a significant decrease from a net income of $137.0 million, or $2.62 per diluted share, in Q1 2024[3]. - Adjusted EBITDA for Q1 2025 was $39.5 million, down from $200.2 million in Q1 2024, impacted by a 40% lower index price for premium low-vol steelmaking coal year-over-year[3]. - Total revenues for Q1 2025 were $299.9 million, a decline of 40.5% from $503.5 million in Q1 2024, with the average net selling price dropping by 41.9% to $135.79 per short ton[9]. - Free cash flow for Q1 2025 was negative $68.430 million, compared to positive $2.368 million in Q1 2024, indicating a significant cash outflow[41]. - The company reported a basic and diluted net loss per share of $0.16 for Q1 2025, compared to earnings of $2.63 per share in Q1 2024[32]. Production and Sales - Total production volumes increased by 10% to 2.3 million short tons in Q1 2025, with sales volumes rising by 2% to 2.2 million short tons[5][7]. - Tons sold in Q1 2025 increased to 2,172 thousand short tons, up from 2,129 thousand short tons in Q1 2024, reflecting a 2% increase[34]. - Average net selling price per ton decreased to $135.79 in Q1 2025, down 41.9% from $233.91 in Q1 2024[34]. Cost Management - Cash cost of sales per short ton decreased to $112.35 in Q1 2025 from $133.48 in Q1 2024, reflecting effective cost management[5][10]. - Cash cost of sales per short ton was $112.35 in Q1 2025, a reduction of 15.8% from $133.48 in Q1 2024[34]. - The cost of production percentage increased to 66% in Q1 2025, compared to 61% in Q1 2024, indicating rising production costs[34]. Cash Flow and Liquidity - The company generated positive cash flows from operations of $10.9 million in Q1 2025, compared to $104.1 million in Q1 2024[14]. - The company's total liquidity as of March 31, 2025, was $616.6 million, consisting of cash and cash equivalents of $454.9 million[17]. - Cash, cash equivalents, and restricted cash at the end of Q1 2025 were $462.593 million, down from $693.858 million at the end of Q1 2024[40]. Capital Expenditures and Guidance - Capital expenditures for Q1 2025 were $79.3 million, including $55.3 million for the Blue Creek project, bringing total project expenditures to $771.8 million[14]. - The 2025 guidance remains unchanged, with coal sales expected between 8.2 and 9.0 million short tons and production between 7.8 and 8.6 million short tons[20]. - The company plans to distribute a quarterly cash dividend of $0.08 per share on May 12, 2025[18]. Balance Sheet Highlights - Total assets increased to $2,623,894,000 as of March 31, 2025, up from $2,591,516,000 on December 31, 2024, representing a growth of approximately 1.25%[43]. - Current assets rose to $895,543,000, compared to $887,062,000 at the end of 2024, reflecting an increase of about 0.54%[43]. - Trade accounts receivable increased by 21.7% to $171,460,000 from $140,867,000[43]. - Total liabilities increased to $547,128,000, up from $500,699,000, marking a rise of approximately 9.2%[43]. - Stockholders' equity decreased to $2,076,766,000 from $2,090,817,000, a decline of about 0.67%[43]. - Retained earnings decreased to $1,838,254,000 from $1,851,040,000, a reduction of approximately 0.69%[43]. - Current liabilities increased to $174,352,000 from $170,430,000, an increase of about 2.1%[43]. - Long-term debt remained relatively stable at $153,767,000 compared to $153,612,000[43]. - Inventories decreased slightly to $197,645,000 from $207,590,000, a decline of about 4.3%[43]. - Short-term investments increased significantly to $33,105,000 from $14,622,000, representing a growth of approximately 126.5%[43].

Group 1 - The article discusses the declining favor of coal in the context of ESG (Environmental, Social, and Governance) initiatives and the "Green New Deal" [1] - It highlights that coal has historically been associated with wrongdoing, dating back to the 19th century, and this sentiment continues into the 21st century [1] Group 2 - The author expresses a personal investment strategy focused on value, with significant holdings in various sectors including energy and alternative assets [1] - The article does not provide specific financial data or performance metrics related to coal or the companies involved [1]

Financial Data and Key Metrics Changes - The company reported a net income of $1.1 million or $0.02 per diluted share for Q4 2024, a significant decrease from $129 million or $2.47 per diluted share in Q4 2023 [24] - Adjusted EBITDA for Q4 2024 was $53 million, down from $164 million in the same quarter last year, with an adjusted EBITDA margin of 18% compared to 45% in Q4 2023 [25][27] - Total revenues decreased to $297 million in Q4 2024 from $364 million in Q4 2023, primarily due to a 34% drop in average net selling prices [27] Business Line Data and Key Metrics Changes - Sales volume in Q4 2024 was 1.9 million short tons, up from 1.5 million short tons in Q4 2023, driven by better production volumes [12][14] - Production volume increased to 2.1 million short tons in Q4 2024 from 2 million short tons in the same quarter of 2023, with Mine 4 achieving record production of 2.8 million short tons for the year [14][24] - The company achieved a gross price realization of 86% for Q4 2024 and 89% for the full year, influenced by product mix and geography [10] Market Data and Key Metrics Changes - The PLV FOB Australia index ended Q4 2024 at $178 per short ton, down $7 from Q3, while the PLBCFR China index ended at $180 per short ton [10] - Global pig iron production decreased by 1.8% in 2024, with China's production falling by 2.3% [11] - Sales into Asia increased from 25% of the geographic mix in Q4 2023 to 38% in Q4 2024, while sales into Europe decreased from 56% to 36% [13] Company Strategy and Development Direction - The company is focused on the Blue Creek growth project, with total project investment reaching $717 million, funded entirely from internally generated cash flows [18][20] - The company anticipates incremental annualized production of at least 4.8 million short tons after the startup of the longwall, enhancing its cost curve positioning [21] - The company plans to maintain tight capital spending discipline while preparing for the longwall production expected to start by Q2 2026 [20][21] Management's Comments on Operating Environment and Future Outlook - Management noted that weak market conditions are expected to persist, impacting steelmaking coal prices due to excess supply and low demand [9][31] - The company remains confident in its operational performance outlook for 2025, expecting higher sales and production volumes despite market challenges [31] - Management emphasized the importance of maintaining liquidity to complete the Blue Creek project and prepare for future market improvements [20][35] Other Important Information - The company generated cash from operations of over $367 million in 2024, returning over $43 million to stockholders via dividends [7] - Free cash flow for Q4 2024 was negative $88 million, primarily due to capital expenditures related to Blue Creek [30] - The company ended 2024 with total available liquidity of $655 million [30] Q&A Session Summary Question: Contribution from Blue Creek versus Mine 4 and Mine 7 - The company projects about 1 million tons from Blue Creek and over 2 million tons from Mine 4 for the year [40] Question: Cash cost guidance reductions - The lower cash cost guidance is primarily attributed to lower met coal prices affecting transportation and royalties [41][42] Question: Sales by geography and potential shifts - Tons that would have gone to China are expected to flow into other Asian markets without significant transportation cost differentials [43] Question: Shipment timing for Blue Creek - The majority of Blue Creek's shipments are expected in the second half of the year [48] Question: Price realizations for high vol A coal - The company maintains a price realization expectation of 85% to 90% for now, with potential changes as volumes increase [49] Question: Inventory targets for year-end 2025 - The company aims to normalize inventory levels to a couple of hundred thousand tons per mine by year-end 2025 [55] Question: New labor contract negotiations - Ongoing negotiations with the United Mine Workers are still in progress, with uncertain outcomes [64] Question: Future cash balance considerations - The company plans to maintain a higher minimum cash balance as it scales up operations with Blue Creek [66]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 001-38061 Warrior Met Coal, Inc. (Exact name of registrant as specified in its charter) Delaware 81-0706839 (S ...

February 22, 2022 Fourth Quarter 2021 Results Warrior Met Coal Page 1 Forward looking statements These slides contain, and the officers and representatives of Warrior Met Coal, Inc. (the "Company") may from time to time make, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in these slides that address activities, event ...

Commodity Price Risk - The company is exposed to commodity price risk on coal sales, with most met coal sold under contracts with pricing terms of three months and volume terms of one to three years [496]. - The company manages price risk for supplies through strategic sourcing contracts with suppliers [498]. Interest Rate Risk - The company's Notes have a fixed interest rate of 7.875% per annum, payable semi-annually [500]. - The ABL Facility bears an interest rate equal to SOFR plus a credit adjustment spread, currently ranging from 11 bps to 43 bps [501]. - A 100 basis point increase in interest rates would increase annual interest expense under the ABL Facility by approximately $1.3 million, assuming $132.0 million outstanding [501]. - There has been a change in long-term debt from a fixed rate obligation to include a variable rate obligation [503]. Credit Risk - The company has not had any allowances for credit losses associated with trade accounts receivables for the years ended December 31, 2021, and 2020 [499]. - The company has substantial indebtedness and debt service requirements, which could affect liquidity and access to capital [16]. Market Conditions - Inflation has impacted global supply markets, leading to shortages and increased costs, but the company believes the effects on operations have not been significant [502]. - The broader negative effects of the COVID-19 pandemic have impacted the global economy and major financial markets [503]. - No other material changes to market risk exposure have been reported [503]. Surety Bonds and Reclamation Obligations - The company is subject to risks related to obtaining or renewing surety bonds, which could impact reclamation and coal lease obligations [16].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or For the transition period from to ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Address of Principal Executive Offices) (Zip Code) Commission File Number: 001-38061 (205) 554-6150 (Registrant's telephone number, including area code) Warrior ...