Warrior Reports Second Quarter 2024 Results
Achieved Net Income of
Generated Adjusted EBITDA of
Completed key
Warrior reported net income for the second quarter of 2024 of
Second Quarter Highlights
- Recorded an 18% increase in sales volumes despite weaker demand in the global markets and a 13% increase in production volumes, resulting in largest quarterly production in over three years
-
Invested
$84.1 million in the continued development of the world-classBlue Creek growth project and$25.8 million in sustaining capital expenditures, funded through$147.0 million of cash flows from operations
-
Completed major components for seam access at
Blue Creek , which includes the production slope, service shaft and ventilation shaft and fan and allows for the initial development of the longwall panel with the first continuous miner unit expected to begin in the third quarter of 2024
- Re-affirmed outlook for 2024, with a non-material change to interest expense
“Our ability to deliver a very strong second quarter performance despite a soft global market reflects our continued success in maximizing sales and production volumes and generating significant cash flow from operations,” commented
“Looking ahead, we believe the Company is well positioned to capitalize on improving global demand if it materializes, especially in
Operating Results
Sales volume in the second quarter of 2024 was 2.1 million short tons compared to 1.8 million short tons in the second quarter of 2023, representing an 18% increase. This 18% increase in sales volume was driven by higher production from both Mine No. 4 and Mine No. 7 operating at higher capacity levels in 2024 compared to 2023. We continued to transport more volume by rail to the port during the second quarter of 2024 without any delays due to the failure of a lock and dam system on the
The Company produced 2.2 million short tons of steelmaking coal in the second quarter of 2024, resulting in the largest quarterly production in over three years, compared to 1.9 million short tons in the second quarter of 2023, representing a 13% increase. Inventory levels increased slightly to 895 thousand short tons as of
Additional Financial Results
Total revenues were
Cost of sales for the second quarter of 2024 were
Selling, general and administrative expenses for the second quarter of 2024 were
Depreciation and depletion expenses for the second quarter of 2024 were
Income tax expense was
Cash Flow and Liquidity
The Company generated cash flows of
Net working capital, excluding cash, for the second quarter of 2024 decreased by
Cash flows used in financing activities for the second quarter of 2024 were
The Company’s total liquidity as of
Capital Allocation
On
Progress at
During the second quarter, Warrior invested
“During the second quarter, we accomplished several critical milestones in the development of our world-class
With the addition of
Company Outlook
The Company re-affirmed its guidance for the full year 2024 with a non-material change to interest expense as indicated below. The guidance is subject to many risks that may impact performance, such as market conditions in the steel and steelmaking coal industries and overall global economic and competitive conditions, all as more fully described under Forward-Looking Statements.
Coal sales |
7.4 - 8.2 million short tons |
|
Coal production |
7.4 - 8.0 million short tons |
|
Cash cost of sales (free-on-board port) |
|
|
Capital expenditures for existing mines |
|
|
|
|
|
Mine development costs |
|
|
Selling, general and administrative expenses |
|
|
Interest expense |
|
|
Interest income |
|
|
Income tax expense |
14% - 18% |
Key factors that may affect outlook include:
- Three planned longwall moves remaining (two in Q3 and one in Q4),
- HCC index pricing, geography of sales and freight rates,
- Exclusion of other non-recurring costs,
- Terms of any new labor contract, and
- Inflationary pressures.
The Company's guidance for its capital expenditures consists of sustaining capital spending of approximately
The Company's production guidance contains approximately 200,000 short tons of High Vol A steelmaking coal in the second half of 2024 from the continuous miner unit from the
The Company does not provide reconciliations of its outlook for cash cost of sales (free-on-board port) to cost of sales in reliance on the unreasonable efforts exception provided for under Item 10(e)(1)(i)(B) of Regulation S-K.
Use of Non-GAAP Financial Measures
This release contains the use of certain non-GAAP financial measures. These non-GAAP financial measures are provided as supplemental information for financial measures prepared in accordance with GAAP. Management believes that these non-GAAP financial measures provide additional insights into the performance of the Company, and they reflect how management analyzes Company performance and compares that performance against other companies. These non-GAAP financial measures may not be comparable to other similarly titled measures used by other entities. The definition of these non-GAAP financial measures and a reconciliation of non-GAAP to GAAP financial measures is provided in the financial tables section of this release.
Conference Call
The Company will hold a conference call to discuss its second quarter 2024 results today,
About Warrior
Warrior is a
Forward-Looking Statements
This press release contains, and the Company’s 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 of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements, including statements regarding 2024 guidance, sales and production growth, ability to maintain cost structure, demand, management of liquidity, cash flows, expenses and expected capital expenditures and working capital, the Company's pursuit of strategic growth opportunities, the Company's future ability to create value for stockholders, as well as statements regarding production, inflationary pressures, and the development of the
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors.
|
||||||||||||||||
CONDENSED STATEMENTS OF OPERATIONS |
||||||||||||||||
(in thousands, except per-share amounts) |
||||||||||||||||
(Unaudited) |
||||||||||||||||
|
For the three months ended |
|
For the six months ended |
|||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||||||
Revenues: |
|
|
|
|
|
|
|
|||||||||
Sales |
$ |
390,424 |
|
|
$ |
371,033 |
|
|
$ |
888,423 |
|
|
$ |
871,524 |
|
|
Other revenues |
|
6,099 |
|
|
|
8,627 |
|
|
|
11,613 |
|
|
|
17,810 |
|
|
Total revenues |
|
396,524 |
|
|
|
379,660 |
|
|
|
900,036 |
|
|
|
889,334 |
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|||||||||
Cost of sales (exclusive of items shown separately below) |
|
261,305 |
|
|
|
230,452 |
|
|
|
546,892 |
|
|
|
463,082 |
|
|
Cost of other revenues (exclusive of items shown separately below) |
|
10,673 |
|
|
|
11,510 |
|
|
|
20,638 |
|
|
|
22,948 |
|
|
Depreciation and depletion |
|
38,150 |
|
|
|
30,550 |
|
|
|
78,173 |
|
|
|
67,763 |
|
|
Selling, general and administrative |
|
15,392 |
|
|
|
13,172 |
|
|
|
34,050 |
|
|
|
27,688 |
|
|
Business interruption |
|
100 |
|
|
|
3,537 |
|
|
|
302 |
|
|
|
7,754 |
|
|
Total costs and expenses |
|
325,620 |
|
|
|
289,221 |
|
|
|
680,055 |
|
|
|
589,235 |
|
|
Operating income |
|
70,904 |
|
|
|
90,439 |
|
|
|
219,982 |
|
|
|
300,099 |
|
|
Interest expense |
|
(915 |
) |
|
|
(5,452 |
) |
|
|
(2,036 |
) |
|
|
(12,895 |
) |
|
Interest income |
|
9,241 |
|
|
|
11,640 |
|
|
|
17,395 |
|
|
|
20,544 |
|
|
Other income |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
221 |
|
|
Income before income tax expense |
|
79,230 |
|
|
|
96,627 |
|
|
|
235,341 |
|
|
|
307,969 |
|
|
Income tax expense |
|
8,519 |
|
|
|
14,534 |
|
|
|
27,641 |
|
|
|
43,598 |
|
|
Net income |
$ |
70,711 |
|
|
$ |
82,093 |
|
|
$ |
207,700 |
|
|
$ |
264,371 |
|
|
Basic and diluted net income per share: |
|
|
|
|
|
|
|
|||||||||
Net income per share—basic |
$ |
1.35 |
|
|
$ |
1.58 |
|
|
|
3.98 |
|
|
|
5.09 |
|
|
Net income per share—diluted |
$ |
1.35 |
|
|
$ |
1.58 |
|
|
|
3.97 |
|
|
|
5.09 |
|
|
Weighted average number of shares outstanding—basic |
|
52,321 |
|
|
|
52,010 |
|
|
|
52,242 |
|
|
|
51,927 |
|
|
Weighted average number of shares outstanding—diluted |
|
52,378 |
|
|
|
52,081 |
|
|
|
52,293 |
|
|
|
51,990 |
|
|
Dividends per share: |
$ |
0.08 |
|
|
$ |
0.07 |
|
|
$ |
0.66 |
|
|
$ |
1.02 |
|
||||||||||||||||
QUARTERLY SUPPLEMENTAL FINANCIAL DATA AND |
||||||||||||||||
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES |
||||||||||||||||
(Unaudited) |
||||||||||||||||
QUARTERLY SUPPLEMENTAL FINANCIAL DATA: |
||||||||||||||||
(short tons in thousands) (1) |
For the three months ended |
|
For the six months ended |
|||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||||||
Tons sold |
|
2,098 |
|
|
|
1,779 |
|
|
|
4,227 |
|
|
|
3,727 |
|
|
Tons produced |
|
2,172 |
|
|
|
1,924 |
|
|
|
4,223 |
|
|
|
3,683 |
|
|
Average net selling price |
$ |
186.09 |
|
|
$ |
208.56 |
|
|
$ |
210.18 |
|
|
$ |
233.84 |
|
|
Cash cost of sales (free-on-board port) per short ton(2) |
$ |
123.78 |
|
|
$ |
128.70 |
|
|
$ |
128.66 |
|
|
$ |
123.56 |
|
|
Cost of production % |
|
61 |
% |
|
|
59 |
% |
|
|
61 |
% |
|
|
58 |
% |
|
Transportation and royalties % |
|
39 |
% |
|
|
41 |
% |
|
|
39 |
% |
|
|
42 |
% |
|
(1) 1 short ton is equivalent to 0.907185 metric tons. |
||||||||||||||||
RECONCILIATION OF CASH COST OF SALES (FREE-ON-BOARD PORT) TO COST OF SALES REPORTED UNDER |
||||||||||||||||
(in thousands) |
For the three months ended |
|
For the six months ended |
|||||||||||||
|
2024 |
2023 |
|
2024 |
|
2023 |
||||||||||
Cost of sales |
$ |
261,305 |
|
$ |
230,452 |
|
|
$ |
546,892 |
|
|
$ |
463,082 |
|
||
Asset retirement obligation accretion |
|
(703 |
) |
|
(539 |
) |
|
|
(1,405 |
) |
|
|
(1,079 |
) |
||
Stock compensation expense |
|
(912 |
) |
|
(948 |
) |
|
|
(1,625 |
) |
|
|
(1,482 |
) |
||
Cash cost of sales (free-on-board port)(2) |
$ |
259,690 |
|
$ |
228,965 |
|
|
$ |
543,862 |
|
|
$ |
460,521 |
|
||
(2) Cash cost of sales (free-on-board port) is based on reported cost of sales and includes items such as freight, royalties, labor, fuel and other similar production and sales cost items, and may be adjusted for other items that, pursuant to GAAP, are classified in the Condensed Statements of Operations as costs other than cost of sales, but relate directly to the costs incurred to produce met coal. Our cash cost of sales per short ton is calculated as cash cost of sales divided by the short tons sold. Cash cost of sales (free-on-board port) is a non-GAAP financial measure which is not calculated in conformity with |
|
||||||||||||||||
QUARTERLY SUPPLEMENTAL FINANCIAL DATA AND |
||||||||||||||||
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES |
||||||||||||||||
(CONTINUED) |
||||||||||||||||
(Unaudited) |
||||||||||||||||
RECONCILIATION OF ADJUSTED EBITDA TO AMOUNTS REPORTED UNDER |
||||||||||||||||
($ in thousands) |
For the three months ended |
|
For the six months ended |
|||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||||||
Net income |
$ |
70,711 |
|
|
$ |
82,093 |
|
|
$ |
207,700 |
|
|
$ |
264,371 |
|
|
Interest income, net |
|
(8,327 |
) |
|
|
(6,188 |
) |
|
|
(15,360 |
) |
|
|
(7,649 |
) |
|
Income tax expense |
|
8,519 |
|
|
|
14,534 |
|
|
|
27,641 |
|
|
|
43,598 |
|
|
Depreciation and depletion |
|
38,150 |
|
|
|
30,550 |
|
|
|
78,173 |
|
|
|
67,763 |
|
|
Asset retirement obligation accretion |
|
1,298 |
|
|
|
990 |
|
|
|
2,595 |
|
|
|
1,896 |
|
|
Stock compensation expense |
|
5,040 |
|
|
|
4,573 |
|
|
|
14,187 |
|
|
|
12,275 |
|
|
Other non-cash accretion |
|
451 |
|
|
|
413 |
|
|
|
902 |
|
|
|
827 |
|
|
Mark-to-market gain on gas hedges |
|
— |
|
|
|
(522 |
) |
|
|
— |
|
|
|
(1,227 |
) |
|
Business interruption |
|
101 |
|
|
|
3,537 |
|
|
|
302 |
|
|
|
7,754 |
|
|
Other income |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(221 |
) |
|
Adjusted EBITDA(3) |
$ |
115,943 |
|
|
$ |
129,980 |
|
|
$ |
316,140 |
|
|
$ |
389,387 |
|
|
Adjusted EBITDA margin(4) |
|
29.2 |
% |
|
|
34.2 |
% |
|
|
35.1 |
% |
|
|
43.8 |
% |
|
(3) Adjusted EBITDA is defined as net income before net interest income, net, income tax expense, depreciation and depletion, non-cash asset retirement obligation accretion, non-cash stock compensation expense, other non-cash accretion, mark-to-market gain on gas hedges, business interruption expenses and other income. Adjusted EBITDA is not a measure of financial performance in accordance with GAAP, and we believe items excluded from Adjusted EBITDA are significant to a reader in understanding and assessing our financial condition. Therefore, Adjusted EBITDA should not be considered in isolation, nor as an alternative to net income, income from operations, cash flows from operations or as a measure of our profitability, liquidity or performance under GAAP. We believe that Adjusted EBITDA presents a useful measure of our ability to incur and service debt based on ongoing operations. Furthermore, analogous measures are used by industry analysts to evaluate our operating performance. Investors should be aware that our presentation of Adjusted EBITDA may not be comparable to similarly titled measures used by other companies. |
||||||||||||||||
(4) Adjusted EBITDA margin is defined as Adjusted EBITDA divided by total revenues. |
||||||||||||||||
RECONCILIATION OF ADJUSTED NET INCOME TO AMOUNTS REPORTED UNDER |
||||||||||||||||
(in thousands, except per share amounts) |
For the three months ended |
|
For the six months ended |
|||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||||||
Net income |
$ |
70,711 |
|
|
$ |
82,093 |
|
|
$ |
207,700 |
|
|
$ |
264,371 |
|
|
Business interruption, net of tax |
|
89 |
|
|
|
3,096 |
|
|
|
267 |
|
|
|
6,656 |
|
|
Other income, net of tax |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(190 |
) |
|
Adjusted net income(5) |
$ |
70,800 |
|
|
$ |
85,189 |
|
|
$ |
207,967 |
|
|
$ |
270,837 |
|
|
|
|
|
|
|
|
|
|
|||||||||
Weighted average number of shares outstanding—basic |
|
52,321 |
|
|
|
52,010 |
|
|
|
52,242 |
|
|
|
51,927 |
|
|
Weighted average number of shares outstanding—diluted |
|
52,378 |
|
|
|
52,081 |
|
|
|
52,293 |
|
|
|
51,990 |
|
|
|
|
|
|
|
|
|
|
|||||||||
Adjusted net income per share—basic |
$ |
1.35 |
|
|
$ |
1.64 |
|
|
$ |
3.98 |
|
|
$ |
5.22 |
|
|
Adjusted net income per share—diluted |
$ |
1.35 |
|
|
$ |
1.64 |
|
|
$ |
3.98 |
|
|
$ |
5.21 |
|
|
(5) Adjusted net income is defined as net income net of business interruption expenses and other income, net of tax (based on each respective period's effective tax rate). Adjusted net income is not a measure of financial performance in accordance with GAAP, and we believe items excluded from adjusted net income are significant to the reader in understanding and assessing our results of operations. Therefore, adjusted net income should not be considered in isolation, nor as an alternative to net income under GAAP. We believe adjusted net income is a useful measure of performance and we believe it aids some investors and analysts in comparing us against other companies to help analyze our current and future potential performance. Adjusted net income may not be comparable to similarly titled measures used by other companies. |
|
||||||||||||||||
CONDENSED STATEMENTS OF CASH FLOWS |
||||||||||||||||
(in thousands) |
||||||||||||||||
(Unaudited) |
||||||||||||||||
|
For the three months ended |
|
For the six months ended |
|||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||||||
OPERATING ACTIVITIES: |
|
|
|
|
|
|
|
|||||||||
Net income |
$ |
70,711 |
|
|
$ |
82,093 |
|
|
$ |
207,700 |
|
|
$ |
264,371 |
|
|
Non-cash adjustments to reconcile net income to net cash provided by operating activities |
|
48,747 |
|
|
|
45,870 |
|
|
|
102,521 |
|
|
|
120,968 |
|
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|||||||||
Trade accounts receivable |
|
30,690 |
|
|
|
1,098 |
|
|
|
(84,485 |
) |
|
|
(55,706 |
) |
|
Income tax receivable |
|
— |
|
|
|
— |
|
|
|
7,833 |
|
|
|
— |
|
|
Inventories |
|
(8,245 |
) |
|
|
(8,909 |
) |
|
|
7,918 |
|
|
|
8,497 |
|
|
Prepaid expenses and other receivables |
|
2,345 |
|
|
|
(22 |
) |
|
|
(2,923 |
) |
|
|
(3,162 |
) |
|
Accounts payable |
|
18,842 |
|
|
|
5,300 |
|
|
|
24,473 |
|
|
|
(3,163 |
) |
|
Accrued expenses and other current liabilities |
|
(14,939 |
) |
|
|
(4,273 |
) |
|
|
(9,892 |
) |
|
|
(22,305 |
) |
|
Other |
|
(1,176 |
) |
|
|
3,353 |
|
|
|
(2,112 |
) |
|
|
7,944 |
|
|
Net cash provided by operating activities |
|
146,975 |
|
|
|
124,510 |
|
|
|
251,033 |
|
|
|
317,444 |
|
|
INVESTING ACTIVITIES: |
|
|
|
|
|
|
|
|||||||||
Purchases of property, plant and equipment |
|
(110,961 |
) |
|
|
(136,116 |
) |
|
|
(210,664 |
) |
|
|
(204,295 |
) |
|
Mine development costs |
|
(10,658 |
) |
|
|
(11,229 |
) |
|
|
(12,645 |
) |
|
|
(25,687 |
) |
|
Acquisitions, net of cash acquired |
|
— |
|
|
|
(40 |
) |
|
|
— |
|
|
|
(2,421 |
) |
|
Net cash used in investing activities |
|
(121,619 |
) |
|
|
(147,385 |
) |
|
|
(223,309 |
) |
|
|
(232,403 |
) |
|
FINANCING ACTIVITIES: |
|
|
|
|
|
|
|
|||||||||
Net cash used in financing activities |
|
(10,191 |
) |
|
|
(12,252 |
) |
|
|
(56,898 |
) |
|
|
(87,100 |
) |
|
Net increase (decrease) in cash and cash equivalents |
|
15,165 |
|
|
|
(35,127 |
) |
|
|
(29,174 |
) |
|
|
(2,059 |
) |
|
Cash and cash equivalents at beginning of period |
|
693,858 |
|
|
|
862,548 |
|
|
|
738,197 |
|
|
|
829,480 |
|
|
Cash and cash equivalents at end of period |
$ |
709,023 |
|
|
$ |
827,421 |
|
|
$ |
709,023 |
|
|
$ |
827,421 |
|
|
RECONCILIATION OF FREE CASH FLOW TO AMOUNTS REPORTED UNDER |
||||||||||||||||
(in thousands) |
For the three months ended |
For the six months ended |
||||||||||||||
|
2024 |
|
2023 |
2024 |
2023 |
|||||||||||
Net cash provided by operating activities |
$ |
146,975 |
|
|
$ |
124,510 |
|
$ |
251,033 |
|
$ |
317,444 |
|
|||
Purchases of property, plant and equipment and mine development costs |
|
(121,619 |
) |
|
|
(147,345 |
) |
|
(223,309 |
) |
|
(229,982 |
) |
|||
Free cash flow(6) |
$ |
25,356 |
|
|
$ |
(22,835 |
) |
$ |
27,724 |
|
$ |
87,462 |
|
|||
Free cash flow conversion(7) |
|
21.9 |
% |
|
|
(17.6 |
)% |
|
8.8 |
% |
|
22.5 |
% |
|||
(6) Free cash flow is defined as net cash provided by operating activities less purchases of property, plant and equipment and mine development costs. Free cash flow is not a measure of financial performance in accordance with GAAP, and we believe items excluded from net cash provided by operating activities are significant to the reader in understanding and assessing our results of operations. Therefore, free cash flow should not be considered in isolation, nor as an alternative to net cash provided by operating activities under GAAP. We believe free cash flow is a useful measure of performance and we believe it aids some investors and analysts in comparing us against other companies to help analyze our current and future potential performance. Free cash flow may not be comparable to similarly titled measures used by other companies. |
||||||||||||||||
(7) Free cash flow conversion is defined as free cash flow divided by Adjusted EBITDA. |
|
||||||||
CONDENSED BALANCE SHEETS |
||||||||
(in thousands, except share and per-share data) |
||||||||
|
|
|
|
|||||
|
(Unaudited) |
|
|
|||||
ASSETS |
|
|
|
|||||
Current assets: |
|
|
|
|||||
Cash and cash equivalents |
$ |
709,023 |
|
|
$ |
738,197 |
|
|
Short-term investments |
|
9,270 |
|
|
|
9,030 |
|
|
Trade accounts receivable |
|
182,710 |
|
|
|
98,225 |
|
|
Income tax receivable |
|
— |
|
|
|
7,833 |
|
|
Inventories, net |
|
173,948 |
|
|
|
183,949 |
|
|
Prepaid expenses and other receivables |
|
34,855 |
|
|
|
31,932 |
|
|
Total current assets |
|
1,109,806 |
|
|
|
1,069,167 |
|
|
Mineral interests, net |
|
76,174 |
|
|
|
80,442 |
|
|
Property, plant and equipment, net |
|
1,348,348 |
|
|
|
1,179,609 |
|
|
Deferred income taxes |
|
5,490 |
|
|
|
5,854 |
|
|
Other long-term assets |
|
21,039 |
|
|
|
21,987 |
|
|
Total assets |
$ |
2,560,857 |
|
|
$ |
2,357,059 |
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|||||
Current liabilities: |
|
|
|
|||||
Accounts payable |
$ |
65,507 |
|
|
$ |
36,245 |
|
|
Accrued expenses |
|
71,729 |
|
|
|
81,612 |
|
|
Short-term financing lease liabilities |
|
12,645 |
|
|
|
11,463 |
|
|
Other current liabilities |
|
24,456 |
|
|
|
18,350 |
|
|
Total current liabilities |
|
174,337 |
|
|
|
147,670 |
|
|
Long-term debt |
|
153,312 |
|
|
|
153,023 |
|
|
Asset retirement obligations |
|
71,578 |
|
|
|
71,666 |
|
|
Long-term financing lease liabilities |
|
4,967 |
|
|
|
8,756 |
|
|
Deferred income taxes |
|
80,945 |
|
|
|
74,531 |
|
|
Other long-term liabilities |
|
27,331 |
|
|
|
26,966 |
|
|
Total liabilities |
|
512,470 |
|
|
|
482,612 |
|
|
Stockholders’ Equity: |
|
|
|
|||||
Common stock, |
|
545 |
|
|
|
542 |
|
|
Preferred stock, |
|
— |
|
|
|
— |
|
|
|
|
(50,576 |
) |
|
|
(50,576 |
) |
|
Additional paid in capital |
|
281,801 |
|
|
|
279,332 |
|
|
Retained earnings |
|
1,816,617 |
|
|
|
1,645,148 |
|
|
Total stockholders’ equity |
|
2,048,387 |
|
|
|
1,874,446 |
|
|
Total liabilities and stockholders’ equity |
$ |
2,560,857 |
|
|
$ |
2,357,058 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240801348212/en/
For Investors:
dale.boyles@warriormetcoal.com
For Media:
dandre.wright@warriormetcoal.com
Source: