Warrior Met Coal (HCC) Q3 2025 Earnings
Reported Nov 5, 2025 at 4:04 PM ET · SEC Source
Q3 25 EPS
$0.70
BEAT +236.29%
Est. $-0.51
Q3 25 Revenue
$328.6M
BEAT +9.54%
Est. $300.0M
vs S&P Since Q3 25
-1.0%
TRAILING MARKET
HCC +9.6% vs S&P +10.5%
Market Reaction
Did HCC Beat Earnings? Q3 2025 Results
Warrior Met Coal delivered a standout third quarter, posting GAAP EPS of $0.70 per diluted share against a consensus estimate of negative $0.30, a beat of 333.33%, while revenue of $328.59 million held essentially flat year over year, rising just 0.3… Read more Warrior Met Coal delivered a standout third quarter, posting GAAP EPS of $0.70 per diluted share against a consensus estimate of negative $0.30, a beat of 333.33%, while revenue of $328.59 million held essentially flat year over year, rising just 0.3%. The headline driver was a record 2.4 million short tons of sales volume, up 27% from a year ago, which largely absorbed a painful 21% decline in average net selling prices to $136 per short ton as persistently weak global steelmaking coal markets weighed on realizations. A $13.75 million income tax benefit further lifted the bottom line. The more consequential development, however, was the commencement of longwall operations at the Blue Creek mine in October, eight months ahead of schedule, which prompted management to raise full-year 2025 production guidance by roughly 10% to 9.4 to 9.8 million short tons while lowering cash cost guidance to $105 to $110 per short ton. Shares responded sharply, surging more than 20% on investor confidence in the company's growth trajectory.
Key Takeaways
- • Record quarterly sales volumes of 2.4 million short tons, a 27% increase year-over-year
- • Blue Creek mine contributed 378 thousand short tons sold and 175 thousand short tons produced
- • Cash cost of sales per short ton decreased 18% to $100.73 from $123.45 year-over-year
- • Income tax benefit of $13.7 million on pre-tax income of $22.8 million due to depletion expense, gas well tax credits, and foreign-derived intangible income deduction
- • Variable cost structure and disciplined cost control offset lower average selling prices
- • Average net selling price declined 21% to $135.87 per short ton from $171.92 due to weaker steelmaking coal market conditions
HCC YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
HCC Revenue by Segment
Business unit performance breakdown
“It is gratifying to see our detailed planning and laser-focused execution result in the successful startup of longwall operations at our transformational Blue Creek mine eight months ahead of schedule, while keeping the overall project on budget. This milestone reflects Warrior's unwavering commitment to operational excellence and highlights the exceptional teamwork and dedication of our employees. Their efforts have propelled us forward and enhanced our position for sustained growth and long-term success.”
— Walt Scheller, Q3 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% |