WARRIOR MET COAL, INC. (HCC) FY2025 10-K Annual Report
WARRIOR MET COAL, INC. (HCC) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 12, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
WARRIOR MET COAL, INC. FY2025 10-K Analysis
Business Overview
- • Core business model: Mining and sale of metallurgical coal primarily for steel production
- • No new products, services, or segments introduced or emphasized this year; focus remains on metallurgical coal assets
- • Strategic update: Amended and Restated Asset-Based Revolving Credit Agreement extended and amended on August 28, 2025
- • Notable quantitative metric: Asset retirement obligations recorded at $70.2 million for land reclamation as of December 31, 2025
- • Noteworthy fact: Auditor's report highlights significant judgment in estimating asset retirement obligations due to regulatory and discounting complexities
Management Discussion & Analysis
- • Revenue $1.31B, down 15% YoY from $1.53B, driven by -29.5% price decline offset by +21% volume increase (8.7M vs 7.2M tons sold)
- • Net income $57M (4.4% margin) vs $251M (16.4% margin) in 2024; operating income 3.5% vs 16.7%; adjusted EBITDA $256.5M vs $447.9M
- • Best segment: Blue Creek mine started early, producing 1.8M tons in 2025; highest production growth (24% total volume increase)
- • Cash flow from operations $229.2M; capex $402.2M focused on Blue Creek; dividend paid $0.08/share quarterly; liquidity $483.9M (cash + credit)
- • Management outlook: 2026 coal price expected stable to 2025; risks include global steel demand weakness, trade tariff uncertainties, and supply disruptions from events like Australia’s Cyclone Koji
Risk Factors
- • IRS private letter ruling Sept 18, 2017 on Section 382 NOL utilization exception dependent on accurate representations to IRS
- • Alabama House Bill 170 repeal of corporate income tax throwback rule effective Jan 1, 2021 limits use of $45.0M state deferred tax assets
- • Valuation allowance required on deferred tax assets due to cyclical industry, historical losses, and limited future taxable income projections
WARRIOR MET COAL, INC. FY2025 Key Financial MetricsXBRL
Revenue
$1.3B
▼ -14.1% YoY
Net Income
$57M
▼ -77.3% YoY
Operating Margin
3.5%
▼ -1322bp YoY
Net Margin
4.4%
▼ -1208bp YoY
ROE
2.7%
▼ -932bp YoY
Total Assets
$2.8B
▲ +7.4% YoY
EPS (Diluted)
$1.08
▼ -77.5% YoY
Operating Cash Flow
$229M
▼ -37.6% YoY
Source: XBRL data from WARRIOR MET COAL, INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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