Warrior Met Coal (HCC) Q2 2025 Earnings
Reported Aug 6, 2025 at 4:05 PM ET · SEC Source
Q2 25 EPS
$0.11
BEAT +130.34%
Est. $-0.36
Q2 25 Revenue
$297.5M
BEAT +4.16%
Est. $285.6M
vs S&P Since Q2 25
+22.9%
BEATING MARKET
HCC +41.0% vs S&P +18.1%
Market Reaction
Did HCC Beat Earnings? Q2 2025 Results
Warrior Met Coal turned in a sharply better-than-feared second quarter, posting earnings per share of $0.11 against a consensus estimate of negative $0.26, a beat of 141.57%, even as revenue fell 25.0% year-over-year to $297.52 million amid a bruisin… Read more Warrior Met Coal turned in a sharply better-than-feared second quarter, posting earnings per share of $0.11 against a consensus estimate of negative $0.26, a beat of 141.57%, even as revenue fell 25.0% year-over-year to $297.52 million amid a bruising steelmaking coal market. The primary drag was a 30.1% decline in average net selling price to $130.01 per short ton, as the Platts Premium Low Vol FOB Australian benchmark tumbled 24% to $167.12, compressing margins across the board and pulling net income down to $5.61 million from $70.71 million a year ago. What cushioned the blow was disciplined cost management, with cash cost of sales falling 18% quarter-over-quarter to $101.17 per short ton, alongside the first commercial sales from the Blue Creek mine, which contributed 239 thousand short tons in the period. The company also pulled forward the Blue Creek longwall startup to early Q1 2026, and updated full-year coal sales guidance to 8.8 to 9.5 million short tons, a signal that production momentum is building even as macro headwinds from excess Chinese steel exports and ample spot supply persist.
Key Takeaways
- • Average Platts Premium Low Vol FOB Australian index price declined 24% YoY to $167.12 per short ton
- • Average net selling price decreased 30.1% YoY to $130.01 per short ton
- • Cash cost of sales (FOB port) per short ton reduced 18% to $101.17 driven by variable cost structure, cost discipline, and Blue Creek's lower cost profile
- • Sales volumes increased 6% YoY to 2.2 million short tons, driven by Blue Creek contributions
- • Production volumes increased 6% YoY to 2.3 million short tons, including 348 thousand short tons from Blue Creek
- • Higher sales mix of high-vol A steelmaking coal and lower price index relativity to premium low-vol
HCC YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
HCC Revenue by Segment
Business unit performance breakdown
“Despite headwinds in the global steelmaking industry, Warrior delivered strong operational results, maintained positive cash margins, and generated positive operating cash flows. These outcomes reflect the strength of our cost discipline, the flexibility of our variable cost structure, and the resilience of our team in managing volatile market conditions. As we navigate challenging market dynamics driven by excess Chinese steel exports, global tariff uncertainties, seasonal demand softness, and ample spot supply, we remain focused on what we can control—protecting margins, preserving cash flow, and executing on our long-term growth strategy.”
— Walt Scheller, Q2 2025 Earnings Press Release
HCC Earnings Trends
HCC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
HCC EPS Trend
Earnings per share: estimate vs actual
HCC Revenue Trend
Quarterly revenue: estimate vs actual
HCC Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $1.42 | $1.37 | -3.70% | $458.6M | -1.01% |
| Q4 25 MISS FY | $0.59 | $0.44 | -25.17% | $384.0M | +0.25% |
| FY Full Year | — | $1.08 | — | $1.31B | — |
| Q3 25 BEAT | $-0.51 | $0.70 | +236.29% | $328.6M | +9.54% |
| Q2 25 BEAT | $-0.36 | $0.11 | +130.34% | $297.5M | +4.16% |