Warrior Met Coal(US:HCC)2022-08-04 04:36Financial Performance - Warrior Met Coal achieved a record quarterly net income of $297 million[11] - The company's adjusted net income reached an all-time high of $3035 million, with adjusted EPS of $587 per diluted share[11] - Adjusted EBITDA hit a record of $4312 million[12] - Free cash flow reached an all-time record of $2502 million[13] Production and Sales - Q2 2022 production volume reached 15 million metric tons[13] - Tons produced increased by 39% from 1195 thousand short tons in Q2 2021 to 1667 thousand short tons in Q2 2022[16] - The average net selling price increased by 227% from $12336 per short ton in Q2 2021 to $40395 per short ton in Q2 2022[16] Blue Creek Project - The Blue Creek project is expected to have an annual run-rate production of 48 million short tons of premium quality met coal[5] - The project's NPV is approximately $1 billion over the life of the mine, with a projected after-tax IRR of ~30%[5] - Warrior Met Coal estimates capital outlay of $650 - $700 million over 5 years for Blue Creek development[37] Capital Allocation and Stockholder Returns - Warrior Met Coal remains committed to stockholder returns and maximizing stockholder value[30] - Approximately $13 billion has been returned to stockholders since 2017[30] 2022 Guidance - Warrior Met Coal projects coal sales of 55 – 65 million short tons for the full year 2022[32] - Capital expenditures are guided at $185 - $200 million[32]