Warrior Met Coal (HCC) FY2024 results: revenue $1.5 billion, down 9.0% on the year

Warrior Met Coal, Inc. (HCC) reported revenue of $1.5 billion for fiscal 2024, the year ended 31 December 2024, down 9.0% on the year before. Net income was $251 million, down 47.6%, and diluted earnings per share $4.79. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2025.

Revenue

$1.5 billion

-9.0% on the year

FY2017FY2024

Operating margin

16.7%

32.3% a year earlier

FY2017FY2024

Net income

$251 million

-47.6% on the year

FY2017FY2024

Diluted EPS

$4.79

-47.9% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,525	1,677	1,739	-9.0%
Cost of revenue	1,007	910	711	+10.7%
Gross profit	518	766	1,028	-32.4%
Gross margin	34.0%	45.7%	59.1%
Selling, general and administrative	63.1	51.8	48.8	+21.7%
Operating income	255	541	801	-52.9%
Operating margin	16.7%	32.3%	46.1%
Interest expense	4.3	18.0	31.4	-76.2%
Pre-tax income	284	551	783	-48.6%
Income tax	33.1	72.8	142	-54.6%
Effective tax rate	11.7%	13.2%	18.1%
Net income	251	479	641	-47.6%
Net margin	16.4%	28.5%	36.9%
Diluted EPS	$4.79	$9.20	$12.40	-47.9%

$ 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.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	367	701	842	-47.6%
Capital expenditure	457	492	205	-7.0%
Free cash flow	-89.8	209	637
Free cash flow margin	-5.9%	12.5%	36.6%
Cash from investing	-538	-527	-255
Cash from financing	-68.5	-265	-153
Depreciation and amortisation	154	127	115	+20.9%
Share-based compensation	22.1	18.2	17.6	+21.2%
Dividends paid	43.8	61.1	79.7	-28.2%
Dividend per share	$0.82	$1.16	$1.54	-29.3%
Diluted shares, weighted	52m	52m	52m	+0.6%
Shares outstanding at period end	52m	52m	52m	+0.6%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	2,091	1,874	1,448	+11.5%
Debt	154	153	303	+0.4%
Finance lease liabilities	6.2	8.8	9.0	-29.0%
Other liabilities	341	321	269	+6.2%
Total liabilities and equity	2,592	2,357	2,028	+9.9%
Investments	44.6	0.0	n/a
Cash and equivalents	492	738	829	-33.4%
Receivables	141	98.2	152	+43.4%
Inventory	208	184	154	+12.9%
Other assets	1,707	1,337	893	+27.7%
Total assets	2,592	2,357	2,028	+9.9%

10-K for the year ended 31 December 2024, filed 13 February 2025: the filing.