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Warrior Met Coal Inc (HCC) Q2 2021 Earnings Call Transcript

Warrior Met Coal Inc (HCC) Q2 2021 Earnings Call Transcript
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Coal miners carry Alabama strike to Wall Street

Coal miners carry Alabama strike to Wall Street Coal miners on strike in Brookwood, Ala., are staying stalwart midway through their fourth month on the picket line 24 hours a day, seven days a week continuing a 100-year-old tradition of labor resistance in central Alabama. The miners of United Mine Workers Local 2245 say big hedge funds that provide financial backing to Warrior Met are blocking progress toward a fair contract. The coal company is “the leading dedicated U.S.-based producer and exporter of high quality metallurgical (‘met’) coal for the global steel industry.” (Business Wire, Feb. 24) Alabama coal miners marched on Wall Street in New York City June 22. Chanting “No contract, no coal!” and “Warrior Met Coal ain’t got no soul!” they picketed the offices of BlackRock Fund Advisors, State Street Global Advisors and Renaissance Technologies Warrior Met’s biggest investors.

Warrior Met Coal reports 1Q21 results

Advertisement Warrior Met Coal, Inc. has recently announced its results for 1Q21. Warrior is a leading dedicated US based producer and exporter of high quality metallurgical coal for the global steel industry. Warrior reported a net loss for 1Q21 of US$21.4 million, or US$0.42 per diluted share, compared to net income of US$21.5 million, or US$0.42 per diluted share, in 1Q20. Adjusted net income per share for 1Q21 was US$0.08 per diluted share compared to adjusted net income per share of US$0.39 per diluted share in 1Q20. The company reported adjusted EBITDA of US$47.1 million in 1Q21, compared to adjusted EBITDA of US$62 million in 1Q20.

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