Warrior Met Coal, Inc. · NYSE:HCC
Warrior Met Coal — Q1 2025 Earnings Presentation
19 slides from Warrior Met Coal's earnings presentation, Apr 30, 2025
Slide 1: First Quarter 2025 Results
First Quarter 2025 Results April 30, 2025
Slide 2: Forward-looking Statements
Forward-looking Statements This presentation contains, and of Warrior Met Coal, Inc.’s (the “Company”, “WMC” or “Warrior”) officers and representatives 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
Slide 3: Warrior: Tier One, Low-Cost Assets for the Global Steel Market
Warrior: Tier One, Low-Cost Assets for the Global Steel Market Blue Creek Underground Operation with Single Longwall System(3) Mine 7 Mine 4 Underground Operation with • Premium High Vol A steelmaking Underground Operation with Two Longwall Systems coal product with strong coking Single Longwall Sys
Slide 4: First Quarter 2025 Highlights
First Quarter 2025 Highlights Recorded 10% increase in production volumes all attributable to Blue Creek and a 2% increase in sales volumes for the first quarter of 2025 compared to 2024. Produced 251 thousand short tons (“St”)(1) at Blue Creek in the first quarter of 2025 from three continuous
Slide 5: Key Metrics for Three Months Ended March 31, 2025 vs. 2024
Key Metrics for Three Months Ended March 31, 2025 vs. 2024 For the three months ended March 31, 2025 2024 % Change Tons produced (in 000s St) 2,254 2,051 10% Tons sold (in 000s St) 2,172 2,129 2% Average net selling price (per St) $135.79 $233.91 (42%) Revenue (in millions) $299.9 $503.5 (40%) Net (
Slide 6: Customer Revenue by Coal Type and Geography Demonstrates Premium Product Mix
Customer Revenue by Coal Type and Geography Demonstrates Premium Product Mix and Logistical Cost Advantage to the Seaborne Market in the Quarter Customer Revenue by Basin(1) Customer Revenue by Geography(1) Customer Revenue by Coal Type(1) Q1 2025 Q1 2025 Q1 2025 Europe PLV Atlantic 20% HVA Pacific
Slide 7: Leverage and Liquidity Ratio
Leverage and Liquidity Ratio Financial Metrics ($ in millions except ratios) Leverage (trailing twelve months ended March 31, 2025) Adjusted EBITDA* $ 287.1 Consolidated Net Cash* (1) (330.7) (2) Net Leverage Ratio (1.15x) (3) Gross Leverage Ratio 0.6x Liquidity (as of March 31, 2025) Cash and Cash
Slide 8: Breaking Down Warrior's 2025 Capital Expenditures
Breaking Down Warrior’s 2025 Capital Expenditures 2025 Capex Guidance 2025 Capex Guidance Detail versus Actual ($ in millions) ($ in millions) Capex Low End High End Sustaining Guidance QTD Actuals YTD Actuals Existing Mines $90 $100 High End Q1 2025 Q1 2025 Blue Creek Project and Mines $90 $11 $11
Slide 9: 2025 Guidance
2025 Guidance(1) Blue Creek Cash Cost of Capital Project & Other Coal Sales Coal Production Sales (Free-on- Expenditures for Discretionary Board Port)* Existing Mines 8.2-9.0 Mst 7.8-8.6 Mst Capital $117-$127 per St $90 - $100mm $225 - $250mm Mine Interest Interest S,G&A Tax Rate Development Expense
Slide 10: Update of Improved Transformational Blue Creek Project
Update of Improved Transformational Blue Creek Project
Slide 11: Project Update: On Time and On Budget
Project Update: On Time and On Budget Total capital expenditure estimate reiterated in a range of: $995M to $1.075B Project to date capital expenditure spend as of 3/31/25: $772M Warrior proactively expanded the original project scope by $130M in 2023 Dramatically improves transportation plan —
Slide 12: Hitting All Major Project Milestones On Schedule
Hitting All Major Project Milestones On Schedule Middle Expected Q3 Middle of Q3 Q4 no Later Expected 2024 of 2025 2025 2025 than Q2 Q2 2026 2025 2026 Source: Company information 12
Slide 13: Appendix/Reconciliations
\\ WARRIOR Appendix/Reconciliations
Slide 14: Appendix
Appendix For the three months ended For the three months ended March 31, 2025 (Unaudited) March 31, 2024 (Unaudited) Short Tons Metric Tons Short Tons Metric Tons Tons sold (in 000s) 2,172 1,970 2,129 1,931 Tons produced (in 000s) 2,254 2,045 2,051 1,861 Average net selling price per ton $135.79 $14
Slide 15: Appendix Non-GAAP Financial Measures
Appendix Non-GAAP Financial Measures Reconciliation of Adjusted EBITDA(1) and Adjusted EBITDA margin (2) to Amounts Reported Under U.S. GAAP For the three months ended March 31, (Unaudited) (in thousands) 2025 2024 Net (loss) income $ (8,168) $ 136,989 Interest income, net (3,185) (7,033) Income tax
Slide 16: Appendix Non-GAAP Financial Measures
Appendix Non-GAAP Financial Measures Reconciliation of Free Cash Flow(1) and Free Cash Flow Conversion(1) to Amounts Reported Under U.S. GAAP For the three months ended March 31, (Unaudited) (in thousands) 2025 2024 Net cash provided by operating activities $ 10,917 $ 104,058 Purchases of property,
Slide 17: Appendix Non-GAAP Financial Measures
Appendix Non-GAAP Financial Measures Reconciliation of Adjusted Net (Loss) Income(1) to Amounts Reported Under U.S. GAAP For the three months ended March 31, (Unaudited) (in thousands) 2025 2024 Net (loss) income $ (8,168) $ 136,989 Business interruption, net of tax (1) 176 Adjusted net (loss) incom
Slide 18: Appendix Non-GAAP Financial Measures
Appendix Non-GAAP Financial Measures Reconciliation of Cash Cost of Sales (Free-on-Board Port)(1) to Cost of Sales Reported Under U.S. GAAP For the three months ended March 31, (Unaudited) (in thousands) 2025 2024 Cost of sales $ 245,735 $ 285,587 Asset retirement obligation accretion (965) (702) St
Slide 19: Source: Company information
Source: Company information