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Warrior Met Coal, Inc. (HCC)

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  • R
    Right on
    From Inside Monkey:

    1. Warrior Met Coal, Inc. (NYSE: HCC)
    Number of Hedge Fund Holders: 25
    Market Cap: $829.741 million

    Warrior Met Coal, Inc. (NYSE: HCC) was founded in 2015 and is headquartered in Brookwood, Alabama. It produces and exports non-thermal metallurgical coal for the steel industry. It operates two underground mines located in Alabama. The company sells its metallurgical coal to a customer base of blast furnace steel producers located primarily in Europe, South America, and Asia. It also sells natural gas, which is extracted as a byproduct from coal production Warrior Met Coal, Inc. (NYSE: HCC) reported a net loss for the first quarter of 2021 of $21.4 million, or $0.42 per diluted share, compared to net income of $21.5 million, or $0.42 per diluted share, in the first quarter of 2020. Adjusted net income per share for the first quarter of 2021 was $0.08 per diluted share. The Adjusted EBITDA was reported to be $47.1 million in the first quarter of 2021. Sales volume in the first quarter of 2021 was 2.0 million short tons compared to 1.8 million short tons in the first quarter of 2020. Total revenues were $213.8 million for the first quarter of 2021. The company generated positive cash flows from operating activities in the first quarter of 2021 of $45.2 million, compared to $21.0 million in the first quarter of 2020. Warrior is on track to be one of the best coal stocks to buy now.
  • S
    Serhii
    Even with Australian met coal being on lockdown by China, HCC manage to make a huge loss. Will probably drag for a while, unless commodity bubble hit met coal market.
  • A
    Andy
    Huge miss here today in HCC. Management must go.
    They got the same net income per share this year as in the previous years quarter, but this time it was negative (while in was positive last year).
    Warrior reported a net loss for the first quarter of 2021 of $21.4 million, or $0.42 per diluted share, compared to net income of $21.5 million, or $0.42 per diluted share, in the first quarter of 2020.
    Maybe it goes to single digit pps.
  • h
    hog
    It appears the Brookwood coal miner strike may be nearing its end.

    The United Mine Workers of America announced that a tentative collective bargaining agreement has been reached between the union and Warrior Met Coal Inc., where more than 1,100 miners have been on strike since April 1.

    “I am so very proud of our members at Warrior Met for standing up for themselves, their families and their communities,” Cecil E. Roberts, president of UMWA International, said in a news release. “Going on strike is a difficult thing to do, but they have shown tremendous unity on the picket lines.

    “Their story is being told across the world right now, and it is one of strength, determination and solidarity.”

    Citing unfair labor practices, the miners took to the picket line last Thursday night after an agreement between the union members and Brookwood-based Warrior Met Coal could not be reached.

    Roberts said in a news release announcing the strike that the union had filed unfair labor practice charges with the National Labor Relations Board relating to Warrior Met’s conduct during negotiations.

    “Despite repeated attempts by our negotiating team to bridge the differences we have at the bargaining table, Warrior Met is going backwards,” Roberts said in the announcement. “We have always been ready to reach a fair agreement that recognizes the sacrifices our members and their families made to keep this company alive.

    “At this point, Warrior Met is not.”

    Now, however, those issues may be resolved.

    The union said it would not release details of the agreement until its members have heard them and held a ratification vote. The process to ratify the agreement is expected to begin on Wednesday, when meetings will be held to explain the updated contract terms to the union members.

    In accordance with the UMWA's constitution, a ratification vote will be held 48 hours after the explanation meetings at each local union among dues-paying members in good standing.

    This vote is set for Friday, and the results will be announced as soon as it is certified by the UMWA’s auditor/tellers.

    “The decision to begin this strike rested with me. The decision to end the strike now rests with the membership of the union at Warrior Met,” Roberts said. “If they ratify this tentative agreement, the strike will end and they will have a new contract. If they do not ratify it, the strike will continue and we will seek further negotiations with the company.”

    On Tuesday, the company maintained that its negotiation position has been meant to protect itself as well as the long-term employment of its 1,400 or so workers.

    "Throughout the negotiations process with the United Mine Workers of America, Warrior Met Coal’s vision has remained on the future," the company said through Erin Vogt, director of public relations for Birmingham-based PERITUS public relations, "a future where we provide our employees with a competitive package while protecting jobs and the longevity of the company and its workforce.

    "We have always valued and appreciated our employees’ hard work and our priorities remain keeping people employed with long-lasting careers and ensuring Warrior Met Coal remains financially stable in a particularly volatile coal market. We are pleased to have reached a tentative agreement and hope it gets ratified by the (union workers) in order for our miners to resume work and continue the positive impact this industry has on our state’s economic growth."

    Warrior Met Coal, which focuses primarily on the mining of nonthermal metallurgical coal for use in the steel production process by manufacturers in Europe, South America and Asia, was created following the 2015 bankruptcy of Jim Walter Resources and its parent company, Walter Energy.

    That year, Walter Energy filed for Chapter 11 bankruptcy protection, indicating it had around $3 billion in debt with its major holdings in the state being the Jim Walter Resources underground coal mines in Brookwood as well as the rights to unmined coal fields elsewhere in Tuscaloosa and neighboring counties.

    In January 2016, the Bankruptcy Court for the Northern District of Alabama approved the sale of Walter Energy to Warrior Met Coal, then operating as Coal Acquisition LLC, which was formed by Walter Energy’s senior creditors during the bankruptcy proceedings.

    Warrior Met Coal went on to hire more than 1,000 miners in 18 months, including 350 hourly miners and 150 salaried employees for a new, $19 million portal facility on the company’s No. 7 mine, and last year the company announced another 350 new jobs with an investment of more than $500 million with plans to construct and develop a new underground coal mining facility off Brandon School Road in north Tuscaloosa County.

    Warrior Met recently reported a loss of about $35 million for last year compared to net income of $302 million for 2019. Citing uncertainty created by the global pandemic, the company did not release financial guidance for 2021.
  • h
    hog
    Strike tonight! HCC vs. UMWA. I posted a link to the article but I guess FB runs this board bc is was deleted!

    Here it is again...

    Union officials have announced that around 1,100 coal miners in Brookwood will go on strike Thursday night in response to what they describe as unfair labor practices by Warrior Met Coal Inc.

    The United Mine Workers of America has filed unfair labor practice charges with the National Labor Relations Board relating to Warrior Met’s conduct during negotiations, said UMWA International President Cecil E. Roberts in a news release announcing the strike.

    Efforts by The Tuscaloosa News to obtain a response from the Brookwood-based company were not immediately successful.

    “Despite repeated attempts by our negotiating team to bridge the differences we have at the bargaining table, Warrior Met is going backwards,” Roberts said in the announcement. “We have always been ready to reach a fair agreement that recognizes the sacrifices our members and their families made to keep this company alive.

    “At this point, Warrior Met is not.”

    Warrior Met Coal, which focuses primarily on the mining of nonthermal metallurgical coal for use in the steel production process by manufacturers in Europe, South America and Asia, rose from the bankrupt ashes of Jim Walter Resources and its parent company, Walter Energy, which, for years, was one of the largest private-sector employers in West Alabama.

    Bankruptcy filing
    In 2015, Walter Energy filed for Chapter 11 bankruptcy protection, indicating it had around $3 billion in debt with its major holdings in the state being the Jim Walter Resources underground coal mines in Brookwood as well as the rights to unmined coal fields elsewhere in Tuscaloosa and neighboring counties.

    Under the agreement, the senior lenders offered $5.4 million in cash and a $1.25 billion credit bid on Walter Energy’s debt.
  • h
    hog
    Sheesh! Did our mine cave in?
  • h
    hog
    More...:

    Following threat to strike by the United Mine Workers of America over claims of unfair labor practices, Warrior Met Coal Inc. said it remains committed to the negotiation process and is working toward a resolution.

    However, the company said it will continue to meet customer demands for its coal should a deal remain unreached and the strike, set to begin at 10:30 p.m. Thursday, proceed.

    “We have and will continue to work with the UMWA to reach a resolution,” Warrior Met Coal said through Erin Vogt, director of public relations for PERITUS public relations, a Birmingham-based firm. “While we are disappointed that the UMWA has taken this extreme step to declare a strike while we continue to negotiate in good faith, we have continuity plans in place to continue meeting the demands of our key customers.”

    On Wednesday, union officials announced that around 1,100 coal miners in Brookwood would strike Thursday night in response to what they describe as unfair labor practices by Warrior Met Coal.

    RELATED:Union announces strike for Brookwood miners at Warrior Met Coal

    UMWA International President Cecil E. Roberts said in a news release announcing the strike that the union had filed unfair labor practice charges with the National Labor Relations Board relating to Warrior Met’s conduct during negotiations.

    “Despite repeated attempts by our negotiating team to bridge the differences we have at the bargaining table, Warrior Met is going backwards,” Roberts said in the announcement. “We have always been ready to reach a fair agreement that recognizes the sacrifices our members and their families made to keep this company alive.

    “At this point, Warrior Met is not.”

    Through Vogt, the company maintained that its negotiation position has been meant to protect the company as well as the long-term employment of its 1,400 or so workers.

    She referenced a declining coal market as well as the global coronavirus pandemic as examples of industry conditions for which Warrior Met Coal is trying to remain prepared.

    Through its current policies, Warrior Met Coal continued to operate despite these factors, positioning itself as an essential industry and protecting the livelihoods of its workers, the company said.

    “Throughout negotiations, our sight has remained on the future – to provide our employees with a competitive package while protecting jobs and the longevity of the company and its workforce,” Vogt said. “History has shown that we must remain vigilant in preparing for the volatility of coal prices.”

    The union, however, believes its workers are being taken for granted.

    Warrior Met Coal, which focuses primarily on the mining of nonthermal metallurgical coal for use in the steel production process by manufacturers in Europe, South America and Asia, was created following the 2015 bankruptcy of Jim Walter Resources and its parent company, Walter Energy.

    That year, Walter Energy filed for Chapter 11 bankruptcy protection, indicating it had around $3 billion in debt with its major holdings in the state being the Jim Walter Resources underground coal mines in Brookwood as well as the rights to unmined coal fields elsewhere in Tuscaloosa and neighboring counties.

    In January 2016, the Bankruptcy Court for the Northern District of Alabama approved the sale of Walter Energy to Warrior Met Coal, then operating as Coal Acquisition LLC, which was formed by Walter Energy’s senior creditors during the bankruptcy proceedings.

    Warrior Met Coal went on to hire more than 1,000 miners in 18 months, including 350 hourly miners and 150 salaried employees for a new, $19 million portal facility on the company’s No. 7 mine, and last year the company announced another 350 new jobs with an investment of more than $500 million with plans to construct and develop a new underground coal mining facility off Brandon School Road in north Tuscaloosa County.

    Now, Roberts accuses Warrior Met Coal of earning “tens of millions (of dollars) in profits for their Wall Street owners” with upper management pocketing bonuses of up to $35,000.

    In response, workers at all of the company’s operations, including the No. 4 mine, the No. 5 preparation plant, the No. 7 mine and its Central Shop are prepared to strike starting at 10:30 p.m. Thursday.

    “Our members are the reason Warrior Met even exists today,” Roberts said in announcing the strike. “They made the sacrifices to bring this company out of the bankruptcy of Walter Energy in 2016.

    “These productive, professional miners at Warrior Met mined the coal that meant the company could become successful again.”

    Vogt and Warrior Met Coal, however, are hopeful the strike can be avoided.

    “We respect our employees’ contributions to Warrior Met Coal and will not stop working to reach an agreement,” she said. “The well-being of our team is always at the forefront. We remain committed to achieving a package that employees appreciate, that will protect the company and can provide a stable future.”
  • D
    Dave
    Does anybody know to where and by what means HCC transports their coal?
  • R
    Right on
    Google Zack's article "Steel Industry Rides on Zooming Prices: 5 Red-Hot Stocks to Buy".

    No carryover to met coal stock pricing.
  • h
    hog
    It's a pretty safe bet that President Gibberish's "infrastructure plan" doesn't include needing any steel.
  • h
    hog
    Wow, an $8 swing in just weeks! Wow!
  • Y
    Yahoo Finance Insights
    Warrior Met Coal is down 8.17% to 15.96
  • h
    hog
    easy come, easy go....
  • h
    hog
    Got my proxy mat'ls yesterday. Vote 'em all out?
  • S
    Stock
    What's the last day to purchase this stock to get the special dividend. I need clarification.
  • h
    hog
    Boy, it's great having this entire board all to myself!
  • S
    Serhii
    That is additional $100 000 000 to add to Revenue/free cash flow next quarter.

    Inventories increased 199,000 short tons to 568,000 short tons during the first quarter primarily due to better-than-expected production volumes we achieved. We expect our inventory level will decline over the next few months.
  • P
    PlanetRed
    Healthier Choices Management Corp.
    $PM - youth of the future beware.

    $hcmc - Youth of the future, please.eat nuritional by their grocery store. Vitamin store, cannibis, cbd, hemp
    lil case with aka
    'Cowboy Killers'·

    I am.here bc.I.really.enjoy.JCMC as a company.

    $apple aboutb1.5 volime.

    $HCC 20 Billion already.

    Got.mybtickets........

    Their at thebpost..

    (soom) very soon. AND THEYRE ODFF! no looking.bavk!
  • T
    Tim
    The latest EIA report is out and shows that MET coal volume and prices are up over 2018 which was a boom year for US MET coal companies. HCC and CTRA are opening new mines and will generate $300M high margin sales from these operations within a year. Seems that the fund managers don't have a clue there is a difference between the dying thermal coal industry and the booming MET coal industry.
  • g
    glenn
    Should the stock price break below $19, I would hope that management would aggressively buy back shares they are
    authorized to purchase. HCC has its act together and has treated shareholders well. I only wish they would keep HCC
    debt free. Still, HCC has flexibility on what to do with free cash flow. That is a nice position to be in.