Warrior MET Coal (HCC) Q2 FY2024 earnings: revenue $397 million, up 4.4% on the year

Warrior MET Coal, Inc. (HCC) reported revenue of $397 million for Q2 FY2024, the quarter ended 30 June 2024, up 4.4% on the same quarter a year earlier. Net income was $71 million, down 13.9% on the year, and diluted earnings per share $1.35. The figures are the company's own, from the 10-Q it filed with the SEC on 1 August 2024.

Revenue$397 millionup 4.4%

Net income$71 milliondown 13.9%

Diluted EPS$1.35

QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	397	504	n/a	n/a
Cost of revenue	261	286	n/a	n/a
Gross profit	135	218	n/a	n/a
Gross margin	34.1%	43.3%	n/a
Selling, general and administrative	15.5	18.9	n/a	n/a
Operating income	70.9	149	n/a	n/a
Operating margin	17.9%	29.6%	n/a
Interest expense	0.9	1.1	n/a	n/a
Pre-tax income	79.2	156	n/a	n/a
Income tax	8.5	19.1	n/a	n/a
Effective tax rate	10.8%	12.2%	n/a
Net income	70.7	137	n/a	n/a
Net margin	17.8%	27.2%	n/a
Diluted EPS	$1.35	$2.62	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Operating cash flow	147	104	n/a	n/a
Capital expenditure	111	99.7	n/a	n/a
Free cash flow	36.0	4.4	n/a	n/a
Free cash flow margin	9.1%	0.9%	n/a
Cash from investing	-122	-102	n/a	n/a
Cash from financing	-10.2	-46.7	n/a	n/a
Depreciation and amortisation	38.1	40.0	n/a	n/a
Share-based compensation	5.0	9.2	n/a	n/a
Dividends paid	4.2	30.6	n/a	n/a
Dividend per share	$0.08	$0.58	n/a	n/a
Diluted shares, weighted	52m	52m	n/a	n/a
Shares outstanding at period end	52m	52m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	2,048	1,978	n/a	n/a
Debt	153	153	n/a	n/a
Finance lease liabilities	5.0	7.7	n/a	n/a
Other liabilities	354	340	n/a	n/a
Total liabilities and equity	2,561	2,479	n/a	n/a
Cash and equivalents	709	694	n/a	n/a
Receivables	183	213	n/a	n/a
Inventory	174	166	n/a	n/a
Other assets	1,495	1,406	n/a	n/a
Total assets	2,561	2,479	n/a	n/a

Questions

What was Warrior MET Coal's revenue in Q2 FY2024?

Warrior MET Coal (HCC) reported revenue of $397 million for Q2 FY2024, the quarter ended 30 June 2024, up 4.4% on the same quarter a year earlier.

How much did Warrior MET Coal earn in Q2 FY2024?

Net income for Q2 FY2024 was $71 million, down 13.9% on the year, and diluted earnings per share $1.35.

When did Warrior MET Coal report Q2 FY2024 results?

Warrior MET Coal filed its 10-Q for the quarter ended 30 June 2024 with the SEC on 1 August 2024.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	423	364	504	397	328	297	300	298	329	384	459	510
Cost of revenue	260	187	286	261	232	229	246	226	240	271	290	340
Gross profit	163	177	218	135	96.1	68.7	54.2	71.1	89.1	113	168	170
Gross margin	39%	49%	43%	34%	29%	23%	18%	24%	27%	29%	37%	33%
SG&A	11.1	13.0	18.9	15.5	11.5	17.6	18.4	11.9	17.2	18.1	28.2	9.8
Operating income	108	134	149	70.9	39.1	-4.2	-17.4	7.7	20.7	34.6	79.4	94.5
Operating margin	25%	37%	30%	18%	12%	-1%	-6%	3%	6%	9%	17%	19%
Interest expense	3.4	1.6	1.1	0.9	1.4	0.8	2.1	2.9	2.3	2.4	3.2	5.5
Pre-tax income	102	141	156	79.2	46.4	2.0	-14.2	9.9	22.9	35.9	78.8	91.1
Tax rate	16%	9%	12%	11%	10%	42%	n/a	43%	-60%	36%	8%	4%
Net income	85.4	129	137	70.7	41.8	1.1	-8.2	5.6	36.6	23.0	72.3	87.4
Net margin	20%	35%	27%	18%	13%	0%	-3%	2%	11%	6%	16%	17%
Diluted EPS	$1.64	$2.48	$2.62	$1.35	$0.80	$0.02	-$0.16	$0.11	$0.70	$0.44	$1.37	$1.65
Operating cash flow	139	245	104	147	62.2	54.2	10.9	37.5	105	76.1	-11.7	132
Capital expenditure	107	181	99.7	111	116	131	68.5	75.0	82.6	94.2	80.1	28.9
Free cash flow	32.0	64.2	4.4	36.0	-53.7	-76.5	-57.6	-37.4	22.1	-18.1	-91.9	103
Dividends paid	3.7	3.7	30.6	4.2	4.2	4.8	5.2	4.2	4.2	4.2	4.7	4.2
Shares outstanding	52m	52m	52m	52m	52m	52m	53m	53m	53m	53m	53m	53m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 1 August 2024, accession 0001691303-24-000022: the filing on EDGAR. All of Warrior MET Coal, Inc.'s filings: EDGAR company page.

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