Warrior Met Coal Files 2024 Annual Report

Ticker: HCC · Form: 10-K · Filed: Feb 13, 2025 · CIK: 1691303

Sentiment: neutral

Topics: annual-report, coal, sec-filing

Related Tickers: HCC

TL;DR

HCC filed its 2024 10-K. All good.

AI Summary

Warrior Met Coal, Inc. (HCC) filed its annual report for the fiscal year ended December 31, 2024. The company is incorporated in Delaware and its principal executive offices are located in Brookwood, Alabama. Its common stock is registered and traded on the New York Stock Exchange under the symbol HCC.

Why It Matters

This filing provides a comprehensive overview of Warrior Met Coal's financial performance and operational status for the past fiscal year, crucial for investors assessing the company's health and future prospects.

Risk Assessment

Risk Level: low — The provided text is a standard cover page for a 10-K filing and does not contain specific financial or operational risks.

Key Players & Entities

FAQ

What is the Commission File Number for Warrior Met Coal, Inc.?

The Commission File Number for Warrior Met Coal, Inc. is 001-38061.

On which exchange is Warrior Met Coal's common stock traded?

Warrior Met Coal's common stock is traded on the New York Stock Exchange.

What is the par value of Warrior Met Coal's common stock?

The par value of Warrior Met Coal's common stock is $0.01 per share.

What is the principal executive office address for Warrior Met Coal?

The principal executive office address is 16243 Highway 216, Brookwood Alabama 35444.

Does Warrior Met Coal have securities registered under Section 12(g) of the Act?

No, Warrior Met Coal does not have securities registered under Section 12(g) of the Act.

Filing Stats: 4,611 words · 18 min read · ~15 pages · Grade level 12.3 · Accepted 2025-02-13 16:44:52

Key Financial Figures

Filing Documents

Forward-Looking Statements

Forward-Looking Statements 1 Glossary of Selected Terms 3 Part I

Risk Factors 20

Item 1A. Risk Factors 20

Unresolved Staff Comments 54

Item 1B. Unresolved Staff Comments 54

Cybersecurity 54

Item 1C. Cybersecurity 54

Properties 56

Item 2. Properties 56

Legal Proceedings 67

Item 3. Legal Proceedings 67

Mine Safety Disclosures 67

Item 4. Mine Safety Disclosures 67 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. 68

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. 68

[Reserved] 69

Item 6. [Reserved] 69

Management's Discussion and Analysis of Financial Condition and Results of Operations 70

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 70

Quantitative and Qualitative Disclosures About Market Risk 89

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 89

Financial Statements and Supplementary Data 89

Item 8. Financial Statements and Supplementary Data 89

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 90

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 90

Controls and Procedures 90

Item 9A. Controls and Procedures 90

Other Information 90

Item 9B. Other Information 90

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 91

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 91 Part III

Directors, Executive Officers and Corporate Governance 92

Item 10. Directors, Executive Officers and Corporate Governance 92

Executive Compensation 92

Item 11. Executive Compensation 92

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 92

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 92

Certain Relationships and Related Transactions, and Director Independence 92

Item 13. Certain Relationships and Related Transactions, and Director Independence 92

Principal Accounting Fees and Services 93

Item 14. Principal Accounting Fees and Services 93 Part IV

Exhibits and Financial Statement Schedules 94

Item 15. Exhibits and Financial Statement Schedules 94

Form 10-K Summary 97

Item 16. Form 10-K Summary 97 Signatures 98 Index to Financial Statements F- 1 i

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this "Annual Report") includes statements of our expectations, intentions, plans and beliefs that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to our future prospects, developments and business strategies. We have used the words "anticipate," "approximately," "assume," "believe," "could," "contemplate," "continue," "estimate," "expect," "target," "future," "intend," "may," "plan," "potential," "predict," "project," "should" and similar terms and phrases, including in references to assumptions, in this Annual Report to identify forward-looking statements. These forward-looking statements are made based on expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control, that could cause our actual results to differ materially from those matters expressed in or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the impact of global pandemics, including its impact on our business, employees, suppliers and customers, the steelmaking coal and steel industries, and global economic markets; the impacts of inflation on our business, including on our costs and our profitability; our relationships with, and other conditions affecting, our customers; successful implementation of our business strategies; unav

Business

Item 1. Business Overview Warrior Met Coal, Inc. (together with its subsidiaries, the "Company" or "Warrior") is a U.S.-based, environmentally and socially minded supplier to the global steel industry headquartered in Brookwood, Alabama. We are dedicated entirely to mining non-thermal steelmaking coal used as a critical component of steel production by metal manufacturers in Europe, South America and Asia. We are a large-scale, low-cost producer and exporter of premium quality met or steelmaking coal, also known as hard coking coal ("HCC"), operating highly efficient longwall operations in our underground mines based in Alabama, Mine No. 4 and Mine No. 7. Our steelmaking coal production totaled 7.5 million metric tons in 2024. Our natural gas operations remove and sell natural gas from our owned and leased coal seams by reducing natural gas levels in our mines. We operate as a single reportable segment. See the financial statements beginning on page F-1 of this Annual Report for our consolidated revenues, profit/loss and total assets. Our Competitive Strengths We believe that we have the following competitive strengths: Leading pure play steelmaking coal producer focused on premium steelmaking coal products . Unlike other publicly listed U.S. coal companies, substantially all of our revenue is derived from the sale of premium steelmaking coal in the global seaborne markets. Our resources are primarily allocated to the mining, transportation and marketing of steelmaking coal. The premium nature of our steelmaking coal makes it ideally suited as a base feed coal for steel makers and our Mine No. 7 steelmaking coal results in price realizations near or above the S&P Global Platts Index (as defined below). Our Mine No. 4 steelmaking coal is a High Vol A quality coal that typically trades at a larger discount to the price of coal from Mine No. 7. The combination of low sulfur, low-to-medium ash, high CSR, low volatility ("Low Vol") to high volatility ("High Vol"),

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