Warrior Met Coal, Inc. reported its financial results for the third quarter and the first nine months of 2025, revealing a total revenue of $328.6 million for the quarter, a slight increase from $327.7 million in the same period last year. However, for the nine months ended September 30, 2025, total revenue decreased to $926.1 million from $1.2 billion in 2024, reflecting a 25% decline. The company's net income for the third quarter was $36.6 million, down from $41.8 million in the prior year, while net income for the nine-month period fell to $34 million from $249.5 million in 2024.
The decrease in revenue and profitability was attributed to a significant drop in the average selling price of steelmaking coal, which fell from $189.54 per metric ton in Q3 2024 to $149.73 in Q3 2025. Despite this, the company saw a 17.3% increase in production, producing 2.0 million metric tons of steelmaking coal in the third quarter, compared to 1.7 million metric tons in the same quarter last year. The increase in production was driven by the Blue Creek mine, which began operations eight months ahead of schedule.
In terms of strategic developments, Warrior Met Coal successfully acquired federal coal leases in Tuscaloosa County, Alabama, for $46.8 million, which is expected to enhance its reserve base significantly. The company has invested approximately $887.7 million in the Blue Creek project to date, with plans to spend an additional $225 to $250 million in 2025. The company also amended its asset-based revolving credit agreement, increasing borrowing capacity to $143 million and extending the maturity date to August 2028.
Operationally, Warrior Met Coal reported a total of 52,570,156 shares outstanding as of November 3, 2025. The company continues to face challenges in the global steelmaking coal market, with weak demand from key markets such as China and India contributing to lower prices. The company is also navigating uncertainties related to tariffs and trade policies that could impact its operations and pricing strategies. Looking ahead, Warrior Met Coal anticipates a gradual recovery in demand and pricing, particularly as seasonal buying from India resumes. The company remains focused on optimizing its capital structure while continuing to invest in growth opportunities.
About WARRIOR MET COAL, INC.
Warrior Met Coal, Inc. is a U.S.-based producer and exporter of high-quality steelmaking coal, primarily hard coking coal, serving global steel industries in Europe, South America, and Asia. Operating efficient underground longwall mines in Alabama, it focuses on premium products, cost leadership, and environmental sustainability. The company emphasizes safety, innovation, and strategic logistics to deliver reliable, high-margin coal to international customers.
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