Highlights

  • Second quarter 2026 total revenues were $509,690 thousand, and net income was $87,429 thousand, or $1.65 per diluted share.
  • Metric tons sold were 3,315 thousand and produced 3,036 thousand, with an average net selling price of $151.91 per metric ton.
  • Total liquidity was $452.9 million at June 30, 2026, including $302.3 million of cash and $140.5 million available under the ABL facility.
  • The board declared a regular quarterly cash dividend of $0.08 per share on July 28, 2026, payable August 17, 2026.

Warrior Met Coal, Inc. (NYSE: HCC) shares were trading at USD 86.99 on October 27, 2026, up 2.09%, with a relative volume at time of 2.29. The steelmaking coal producer completed the Blue Creek construction project in the first quarter of 2026, filed its quarterly report for the period ended June 30, 2026 on August 5, 2026, and declared a regular quarterly dividend of $0.08 per share on July 28, 2026.

Warrior Met Coal is incorporated in Delaware and lists its principal executive offices in Brookwood, Alabama. It mines non-thermal steelmaking coal, also called hard coking coal, for steel producers in Europe, South America and Asia. It operates underground longwall mines in Alabama: Mine No. 4, Mine No. 7 and Blue Creek, where longwall operations began in October 2025. The company reports one segment, Mining. Its fiscal year ends December 31.

Second Quarter 2026 Results

For the three months ended June 30, 2026, unaudited total revenues were $509,690 thousand, compared with $297,523 thousand in the same quarter of 2025. The company said steelmaking coal sales volume increased 64.7%, primarily due to Blue Creek.

Cost of sales was $340,046 thousand, compared with $226,412 thousand. Operating income was $94,521 thousand, compared with $7,723 thousand. Net income was $87,429 thousand, compared with $5,606 thousand. Diluted net income per share was $1.65, compared with $0.11.

Metric tons sold were 3,315 thousand, compared with 2,013 thousand, and metric tons produced were 3,036 thousand, compared with 2,094 thousand. The average net selling price was $151.91 per metric ton, compared with $143.31, and cash cost of sales was $101.99 per metric ton, compared with $111.53. The company recognized a benefit of $9.7 million from the 45X Credit in the quarter. Non-GAAP Adjusted EBITDA was $156,903 thousand, and non-GAAP Segment Adjusted EBITDA was $163,548 thousand.

For the six months ended June 30, 2026, net income was $159,770 thousand, compared with a net loss of $2,562 thousand in the first six months of 2025.

Liquidity, Debt and Capital

Net cash provided by operating activities was $120,551 thousand for the six months ended June 30, 2026, compared with $48,463 thousand. Net cash used in financing activities was $42,310 thousand, which included $9.0 million of regular quarterly dividends. Total debt was $154,591 thousand, including 7.875% senior secured notes due 2028. No loans were outstanding under the Amended ABL Facility.

The company said it believes cash flows, cash on hand and ABL borrowings will fund its obligations for at least the next twelve months, and that it will continue to assess its liquidity needs in light of the current weakness in steelmaking coal prices. Its collective bargaining agreement with the union representing certain hourly employees expired on April 1, 2021, and the company continues to negotiate a new contract.

Blue Creek and Federal Leases

The company completed the Blue Creek construction project in the first quarter of 2026, bringing total project spending to $1,028.1 million, and said no material additional project capital expenditures are expected.

Warrior entered two federal coal leases on November 25, 2025, at Mine No. 1 and Mine No. 4. Federal coal lease obligations were $9.1 million short-term and $24.4 million long-term at June 30, 2026.

Outlook

The 10-Q does not provide numerical guidance. On its August 12, 2026 earnings call, management said it raised its sales and production volume guidance by 0.5 million tons, with Blue Creek expected to sell 5 million short tons for the full year, 90% of it under contract.

Management said it expects premium low-volatility prices to remain above the levels of most of 2025 but below the highs of the first half of 2026. It said lower second-tier index relativities could pressure net selling prices, profitability and free cash flow in the second half.