Warrior Met Coal Q1 Profit Down

(RTTNews) - Warrior Met Coal Inc. (HCC) reported first quarter 2020 net income of $21.5 million or $0.42 per share, down from $110.4 million or $2.14 per share, in the first quarter of 2019.

Adjusted net income per share was $0.39 per share compared to $2.30 per share in the first quarter of 2019.

Total revenues were $226.7 million down from $378.3 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.43 per share and revenues of $214.53 million. Analysts' estimates typically exclude special items.

The company produced 2.1 million short tons of met coal in the first quarter of 2020 compared to 2.3 million short tons in the first quarter of 2019. Sales volume in the first quarter of 2020 was 1.8 million short tons compared to 2.1 million short tons in the first quarter of 2019.