Warrior Met Coal Q4 Profit Falls

(RTTNews) - Warrior Met Coal Inc. (HCC) reported fourth quarter 2019 net income of $20.8 million or $0.41 per share, down from $374.2 million, or $7.11 per share in the fourth quarter of 2018.

Adjusted net income per share was $0.23 per share compared to $2.38 per share in the fourth quarter of 2018.

Total revenues were $204.9 million compared to $360.4 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.13 per share and revenues of $197.14 million for the quarter. Analysts' estimates typically exclude special items.

The company also announced the commencement of the development of its Blue Creek mine, a strategic growth project that it expects will deliver significant future returns to shareholders.