Warrior Met Coal, Inc. has recently made changes to its segment reporting, identifying one reportable segment named Mining. This segment consists of Mine No. 4, Mine No. 7, and the Blue Creek mine. The company recast prior period information related to the change in segments. It's important to note that there were no revenues or cost of sales associated with the Blue Creek mine.
Looking at the financials, Warrior Met Coal, Inc.'s balance sheet for the year ended December 31, 2024, shows total assets of approximately $2.59 billion compared to $2.36 billion for the year ended December 31, 2023. Cash and cash equivalents decreased from $738.2 million in 2023 to $491.5 million in 2024. Short-term investments also saw a slight increase from $9.03 million in 2023 to $14.62 million in 2024.
In terms of revenues, the company's total revenues for the year ended December 31, 2024, were $1.53 billion, down from $1.68 billion in 2023. The cost of sales increased from $910.3 million in 2023 to $1.01 billion in 2024. Operating income decreased significantly from $541.4 million in 2023 to $254.9 million in 2024.
Net income for the year ended December 31, 2024, was $250.6 million, a decrease from $478.6 million in 2023. Basic and diluted net income per share for 2024 were reported at $4.79, down from $9.21 in 2023.
Looking at the statements of cash flows, the company reported net cash provided by operating activities of $386.5 million for the year ended December 31, 2024, compared to $592.5 million in 2023.
From the statements of changes in equity, it can be observed that Warrior Met Coal, Inc.'s total stockholders’ equity increased from approximately $1.87 billion in 2023 to $2.09 billion in 2024.
Following these announcements, the company's shares moved -0.78%, and are now trading at a price of $63.72. Check out the company's full 8-K submission here.
