HCC - Earnings call transcript Q4 2024

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Operator

Good afternoon. My name is Wyatt, and I'll be your conference call operator today. At this time, I would like to welcome everyone to the Warrior Fourth Quarter 2024 Financial Results Conference Call. [Operator Instructions]. This call is being recorded and will be available for replay in the company's website.

to of conference Please External like Wright, to go now President Vice Affairs would turn over the D'Andre ahead. I and Communications.

D'Andre Wright

XXXX And Conference afternoon. welcome, to Fourth Good everyone, Call. Quarter Warrior's Earnings

this financial Act. let the me Private according our that made relating Before we be call, business considered remind statements and begin, including future to Reform may certain Securities you statements Litigation during performance expected statements to forward-looking

uncertainties with to not to result or events statements, except are by annual new expected those address nature, more degrees, undertake in described actual information, which Forward-looking as may of These detail We otherwise, matters required by that may in our to be update statements, different and different uncertain. do a law. statements. are our results quarterly the from their the as in cause future our materially future company's reports SEC be forward-looking forward-looking where filed

statements, refer the For more filings. please to releases information company's and SEC forward-looking regarding press

also is website. will the and financial measures measures financial GAAP quarter certain be on posted X-K, our non-GAAP defined fourth comparable to Form which on release in furnished reconciled SEC press which to also our are discussing We

Additionally, ending afternoon. with for the be our SEC the we will December Form XX-K this filing year XX, XXXX

includes find can afternoon. quarter fourth a supplemental also website additional posted slide which this You information that www.warriormetcoal.com, regarding our the on at deck was company

questions. After Mr. be formal me will with Boyles, remarks, call the Walt any Officer. Chief to Officer; on Mr. our answer happy Dale Today Scheller, Executive Chief Financial are and we

call now over With to Walt. turn will the that, I

Walter Scheller

you'll us to review Quarter our After Fourth remarks, questions. XXXX time then in you have to will thank Thanks, D'Andre. discuss the opportunity and ask Hello, for results detail, to Dale today my additional results. join our taking everyone, the

were current market how performed fundamental pleased fourth Looking the we with company headwinds. at the quarter, despite the

from and higher positioned lowest volumes steelmaking on last this quarter, improved higher capitalize differentiate level dynamics. reached production base When past than Warrior continued well recover XX% Our Warrior driving year's to strong they fourth prices is to volumes where operational high-quality sales XXXX, quarter. X% market since coal the

cash had XX over met all back and and the production from the last X recorded targets, XXXX annual not company XXXX, we production months, achieved Mine very guidance or as successful over a volumes Blue is the stockholders exceeded both seen since tons produced million the first highest our growth $XX from Looking sales return world-class $XXX to from project. generated Creek of of and used cash million Blue of development the which over dividends. Creek to We operations further via

and employees on them all achieved I'd for state our is The fourth like safety the third delivering where in current for into of thank remains The our to XXXX successes our employees strong markets priority. recent our #X continued the we quarter. from steelmaking quarter of and backdrop coal results. the low safety prices the congratulate provides performance

reaching entire markets in quarter. lowest points fourth weaker the fact, In the the year, became over their

Chinese markets appear an and entirety factors our the supply steelmaking of exports excess a ample entrenched, XXXX. beginning demand markets, of by be continue impacting These the factors of of to quarter our factors: and X for be ] the weak primary The [ driven impacting coals. our markets persisting into well customers' complement into steel to fourth

pricing only factors, control [indiscernible] ample low challenging to at results. in profitability These than of Prices prices focused mine impact and the due all have in coal and we are. the availability on are have kept cost market [indiscernible] impacting profitability. the pricing. Our industries for had these global steelmaking especially thin Even our customers curve on on recent seaborne remain insignificant challenged other producers of steel negatively an the have and sector addition margins pressure and cost supply higher our steelmaking their under to coals

discipline key continues call to Our be a in this differentiator us for environment.

quarter fourth short Similar ended than the the quarter fourth for China $XXX at quarter per quarter. at fourth index, FOB $X product Asia, fourth per quarter. $XXX the a We A the averaged ton XX% year were the ton. year the observed of product which freight $XXX lower of mix, the for Index which and quarter the XX% full LV $XXX price declines per the rates. a primary XXXX, was with Our ton tariffs The Platts ended into short ended for the at and for PLV realization for end the short third HCC achieved sold averaged PLV Australia was of [indiscernible] fourth Index $XXX and and CFR high-vol primarily per gross geography, a ton which

expected year. the report, is year. Brazil Pig spot which year. with Steel other as European to of for modest production growth pig monthly more Pig production regions decline come iron experienced remains to of fell a such by also for Rest According compared of a China, as XXXX Association world's X.X% same a production World and rate region bright by online growth expected prior is in countries. for blast X.X% this World's global the period, furnace the X.X% iron the India continue certain the the new decreased X.X% with iron to full The growing Several capacity the experienced in largest to and period. production

offset were South Korea. from gains the and However, Japan declining production by

Now let our me fourth back turn to quarter results.

mines. from by driven sales Importantly, better our volumes strong existing volume production the was

tons year's Our this short quarter. to fourth in same tons X.X short million X.X quarter million volume compared sales was

into sales fourth breakdown fourth Asia, and XX% Most and customers quarter as follows: Japan, into China were of by in Europe sales India. in quarter Our America. XX% into XX% the South in geography the [indiscernible] in to the

that noted, previously has been Asian from sales in growing, geography. we've demand higher As the producers steel resulting to

fourth opportunities. sales by by Europe traditional our America evidenced due weak is this in quarter markets Most XX% our shift This Europe, from quarter last year's spot geographic primarily in and lower from year. last sales XX% from into remain XX% sales in of XX% shift year's South from to geography Asia growing that to While into market to fourth quarter. mix this in decreased which sales year's of in fourth sales

Our decline spot the during spot volume with was sales Xth XX% in sold markets. in marked result into quarter Asian pricing the decrease the fourth which coinciding volume index. primarily XXXX, the in is This consecutive quarterly XXXX,

was volume. year, sales full the our spot of For XX% volume total

million compared X the volume high Production volume for year. in the outstanding the and X fourth short to same renew an short record production in X.X X.X million million year short XXXX. tons Mine of annual tons quarter had was tons quarter

short produced the existing to mine which well our In addition, and continuous of our mines units Creek production ] quarter, X% perform fourth production newly increase tons total. developed quarter. drove fourth Blue included [ during at continuing of a is combination in Blue our the monitor Creek XXX,XXX in The quarterly in

increased the million Our tons quarter at short at of to to coal third production tons of primarily Creek fourth end the from due the volume. the quarter, Blue X.X inventory slightly end XXX,XXX short

for CapEx on the that mine project During spending costs were the million Of million and Mine Blue quarter, $XXX development the CapEx we totaled Creek quarter. $XX amount, during fourth $XXX million. spent development.

until to panel mine and Now longwall development Blue Creek the we later starts, to than expect at continue longwall quarter our that we've costs to second throughout expected started is developing production XXXX the of XXXX. occur grow first no the which

continued budget. progress further at project, while remaining growth on we Looking the excellent Creek transformational Blue

as increasing is project the to the we of excitement starting production. longwall Our move closer

total on quarter for had X the produced Blue By previously the Creek a end commenced short as we continuous year. As disclosed, units began of and third monitor XXX,XXX the quarter, time X for fourth in of production additional tons the we of expected.

in out. the project fourth overlay Blue development over progress Blue the brings out processing belt continued In the infrastructure at preparation strong slurry the the out, dry million. load the Creek. and quarter on to on progress system. coal considerable and the surface Creek, rail building barge of silos by installation invested We XXXX fourth We made year continued clean full quarter, plant, $XXX the $XXX We clean construction coal make we the the load the million investment the which and of completed at to

investment flows from As cash date started capital longwall site internally remaining to was staying the on team the The milestones million, to of on $XXX of total development project we take shields first continues spending job We've shields which generated existing an to project funded on All delivery of track. XXXX. expect half the from of ex year-end, operations. all do in XXX% progress have and the has remain been key to and schedule. managing

After begin installation. Blue awaiting completed on-site starts addition, the to made preparation the in preparation plant of the middle XXXX. is of selling in equipment plant is in In preparation we up, XXXX. expected expect coal second to half be making all plant Creek The

tons to miner We full XXXX, were to A units. high-vol by incredibly approximately we short the ramp coal production all units of Blue and at will end steelmaking quarter as miner additional million produce scheduled. additional These X continuous expect fourth the start Creek of up pleased X X from units to in

people hire next by miner As expect continuous complete continue X.X an and for second no longwall the the production, later the surface over up the [indiscernible] XXX the we the we to starts than XXXX. of additional of to quarter prepare to XXX the start ramp infrastructure longwall years,

project billion. focused approximately we the current planned project spending believe point flows has The to to been any in until we more $XXX continue internally of complete remain expected within total of $XX We ] invested schedule development believe the cash as will or million spending [ we the And million unusual XXX% project on on X/X Creek end on event, and capital the funded to of completed total this from expenditure be generated than liquidity deliver the weak sufficient capital of to that Blue the our project. capital $X.X the tight as we expenditure. estimate market unexpected this project. hand discipline is Despite total very conditions, have

Blue premium, and strong A one [indiscernible] Creek high-vol in last the our U.S., remaining represents untapped margins. anticipate will coal high-quality, generate we

profit global will annualized short start-up strengthen curve back project million to our cash deliver incremental already in incremental after changes [ of least scope, launched of strong increases been X.X significant we at ] for cost outlook in and production flows. expect prices. cost and the and inflationary project which have and XXXX, tons We the positioning coal longwall, enhance the there improvements steelmaking the Since the

that our for stockholders provide creation We original from near update expect economics future Creek. long-term we significant the expect an in value Blue demonstrate the on project to will

our I'll Dale address fourth greater in ask detail. to results now quarter

Dale Boyles

Thanks, Walt.

noted additional for Walt and the We fundamentals development and steelmaking and capitalized a originally coal we increased targets. for a made on exceeded financial and underlying strong market and as to returns our of production weak While of volume this completion We our on schedule quarter operations or growth of earlier. we stockholders, our cash Blue year remain and fourth XXXX. We in business used on met to of Creek on experience guidance delivered where continue provide budget sales our some long performance, year expected. XXXX, the all as the our to project proceeds and invest strong progress full to in the term the prices volumes since lowest for the

flow mine and $XXX was business Excluding [indiscernible] quarter our CapEx the investment demonstrating Creek development, $XX year the cash XXXX, million for fourth our and model. in our of in million free the Blue

lower for ] diluted For net income compared income of the Warrior of of million net XXXX. average in share to nonrecurring interruption a volume. $X.X comparisons quarter, This per the or in basis excluding XX% driven GAAP XXXX, by same sales expenses, per the quarter fourth or recorded fourth million adjustments of net These diluted Non-GAAP our was selling primarily of adjusted quarter-over-quarter income per ] offset prices, adjusted diluted income [ in share. valuation partially share of to net noncash ] same quarter diluted $XXX per a XXXX. $X.XX business the $X.XX share decreases were on net [ and quarter $X.XX $X.XX XX% compares of [

million EBITDA to year. in adjusted XXXX of $XXX quarter reported last same quarter $XX the We compared of the fourth of in million

of margin last EBITDA quarter of in [indiscernible], ton fourth was our was in as $XX fourth quarter the XX% year. adjusted the per in to compared On short Our the margin EBITDA compared same XXXX to XX% last year. $XXX quarter adjusted

prices, selling were primarily these As average offset sales partially volume. lower I XX% decreases driven quarter-over-quarter previously by by mentioned, net higher XX%

quarter than there In addition, made in same were factors results last fourth our year. smaller quarter the lower that the other

the X% higher of year. volume our impact quarter low-vol sales sales Mine high-vol results. versus minimal XXXX for to X mix A quarter from First, last the was mix of has in same fourth overall on Normally, X Mine our compared

of mix wider-than-normal a realty A pricing which has of PLV into However, high-vol high-vol sales A to the quarter product, pricing on the timing Asia the higher impact This X's results. compared a average fourth Mine lower selling approximately to pretax ], low-vol million. by and the product price selling $X net [ EBITDA lowered Mine average premium income price the at of net our adjusted had X

$XXX offset million. last the charges compared of XXXX. compensation the due ] charges lowered mark-to-market EBITDA. sales average the was $X fourth a our were million last valuation in Black $X liabilities $XXX increase partially an a million for charge short selling lower the X of $X of compared million the and of ton items in This to and million decrease other higher quarter by million. of noncash were to revenues average were expense compared overall short pretax $XXX noncash net noncash add-backs of year and stock the of to quarter incurred adjusted of of quarter Lung of we quarter on hedges $XX million in $XXX million, in selling per higher resulted in $XXX the decrease of same Demurrage Secondly, [ adjustment in XXXX, of our legacy of year. price to $XX These the for $X prices in losses net volume the quarter XXXX primarily impact and Total gas our per this of for income million, fourth fourth

the quarter quarter to XX% XXXX revenues driven spending XX% million cash the Cash cost transportation year. revenues and in by was partially mostly cost cost mining FOB primarily higher of for lower a or fourth higher of This on year short wages primarily of offset was steel or net sales to the of by a port, million increase million prices. fourth -- decrease steelmaking million costs quarter in mining was approximately higher lower production of costs $X variable increase last $XXX lower costs fourth Cash associated costs Of costs. steelmaking increase coal and $XXX decrease $XX $XX by million largely royalty lower coal in sales the the maintenance variable of $XXX sales, compared of fourth XX% quarter was lower incentives prices. were volumes. The this and due was in of the in to sales the with ton, offset employee compared per royalty the to in related transportation $XXX and of in supply These on XXXX. headcount

higher headcount, the ended associated lower employee costs, by the higher ton year with higher about of We range, bottom ton. a driven we're per production guidance higher production our incentives and the and higher wages maintenance per our cost for than volumes. $X at short third mine the and quarter costs end Offsetting supplies

the per the Our compared and [indiscernible] cash sales to quarter lower per was same in XX% short short for our quarter the of this cost production fourth transportation to year quarter on of cash XX% year. ton year. fourth of our of prices the XX% were costs royalty of total ton last last compared Overall, in in quarter selling cost cost cash same XX% XXXX of

$XX in our same ton the of result compared per price, year. average quarter last was this margin cash fourth $XXX year net the in lower to of quarter short the a As selling

were SG&A were lower and fourth for total of at X.X%. due $XX in fourth Creek. primarily lower the the quarter of and primarily assets the expenses. about additional in stock of or year and in quarter fourth the balances in to increase million rates placed of The return. than XXXX service of million of investments last fourth earned than interest higher X.X% due expenses was lower of quarter depletion expenses revenues $XX were year, [indiscernible] This and quarter cash to cash year to compensation into income an due the XXXX were employee-related higher this Depreciation was last Blue

to capitalization expense interest the was the of of lower due development Our Creek. related interest to Blue

Our rate for XXXX compared tax effective XXXX. in to full income was XX% the year approximately XX%

to flow. Turning cash

This used cash development million a $XXX Blue to $XX mine XXXX, cash result quarter $XX was fourth Creek. of flow of related were million. expenditures million plus million, of the During flows activities $XXX and for negative by the free generated of operating capital was which of cash

total at of short- and our equivalents million of the $XXX XXXX fourth million cash Our long-term investments end was million million, ABL and the of $XXX available of of and $XX $XXX under equity facility. cash quarter consisted and available

our let's last the conditions the could long seen outlook Now a downward and steel turn full continue and pressure coal quarters year We XXXX. on over put could the market have few guidance weak to making we to period persist for for prices. believe

addition, both conditions, and favorable on higher these In for with wars or pressure have XXXX put seaborne any sales anticipated. Despite production tariffs operational additional new performance expected could a volumes market outlook we trade pricing.

while we traditional in our compared stronger We our the also the demand Atlanta. to customers to remain contracted expect in to from Basin demand Pacific expect to markets stable continue be the spot

on customers continue activity. our to value-added contracted with spot successful will of pursue strategy focusing We

to in receivable. our the due overall negative XX%, of year expected volume combined a inventories impact We have of sales The throughout second capital higher will Blue the on XXXX accounts higher production the volumes and working Creek half Blue are ending of XXXX with at XX%. a with volume strong increase spot in contracted Creek approximately expected

produce to short expect mine X of sell included and A our been targets. from guidance high-vol the which XXXX, new We has million tons in approximately in

invested of available we've manageable over very expected Creek, XXXX be and and capital liquidity. Now million Blue expenditures to in for XXXX, out and $XXX that spending is in cash already existing steps down the the dramatically

I'll now turn to back final it his comments. Walt for

Walter Scheller

Thanks, Dale.

market macroeconomic a our current in may in we've steel the expectations of or for duration, our and meaningful factors, prolonged persist believe the Chinese any barring Given exports change the markets tempered meaningful improvement expected steel a conditions The on coal weigh supply are conditions global material China market, extend seaborne still raw making expect and which seaborne into challenging to we in coals. making steel prices. the to

On the supply strong the adjustments remain absent event. change being longer from possible, are as response. are expect to as that we delayed But Without a extending decisions side, the market and major we production logical be time. to Australian some would dynamics expect in us easy disruption history tells of periods long fundamentals, market often the far these supply for

conditions contractual negatively other customers, to our high-quality our meet trade tariffs or addition, to retaliatory our for purchasing relationships, variable these China weak that prepared environments most such in prices, structure from would to In continue changes measures our by material balance company may growth, new or a as strong with and products in will behaviors market may other in by customers by impact products by be strong recently for brand an realize reduced results. sheet. factors. that recognition trade thrive market pricing market low period. We've our changes and and extended premium challenges may believe impact customer cost those by built the We a our products. due financial economic This price for We're high-quality calls announced to of any United tariffs be demand or measures these strong steelmaking result not States countries, in implemented the or other

market remaining completion project have expect for slow cash persist our we that needed with Blue balance of to addition, and [indiscernible] In to capital a of the fund conditions down project continue the the if not time. sheet, Creek prolonged period do we these on to

near structure nimble operational return they quickly with inventories a market should healthy have in improving respond the term. conditions to and We

few let me project. growth our prepared wrap Blue our a comments up on remarks Now Creek with

be as successful previously be completion budget, and of mentioned. which on expect -- We near to extraordinarily an XXXX on I've to year we milestones schedule

XXXX. to Creek, will of to mine after anticipate XXX we the to in expect enable we starts further up start people. So the the volume Between now XXX longwall Blue production hire the longwall and ramp at

drive approximately addition more those purposes the and we exceeding in This With of low. spent our than of people, amount and million miner to half X/X risk believe that we continuous during approximately X expect production same beyond. free tons of on already the year. second short of other targeted sell With this to to flow project, should the capital the up XXXX range cash the for is expect

Creek be Blue will significant prices that of expect global driver steel stage to continue next growth our a and We rebound. when of exciting

that, questions. like With to we'd for Operator? open call the

Operator

And [Operator Riley. first Nick question your Instructions]. B. comes line from Giles of the with

Unknown Analyst

Thank Sales afternoon, I Walt, everyone. to X. strong Mine you, continued at production, want particularly operator, robust. on congratulate appears Dale, good guidance and the you

sales I of so you X And contribution Creek second wondering of out confidence your think and how could break plant with was guidance? Blue the from coming Mine about we typical Mine then those think line prep realizations in we level half, online your the the and cadence about in if in as should versus X. And achieving

Walter Scheller

the of projecting not start but the point, remainder market. we'll year. Well, maybe the you. selling comes X million more probably selling Thank after second At is online the tons the moving and third prep year quarter quarter, until like at be that I then with that this quarter -- in coal second coal would preparation late third Creek, throughout plant quarter, coming and this expect for Blue to on we're production plant begin will about what that

Creek X over it -- to X, how Mine comparison probably million Mine X of will this what at and probably out X. sell have tons, we'll million year. or look X in Blue we When so and

Unknown Analyst

just $X was you cost second pricing your your reductions much at was And midpoint. curious question cash expectations? how My ton greater any in versus the helpful. as would about to And cost per cost reductions guidance I cost fixed well? attribute very that's absorption Well, meaningful sales-sensitive

Dale Boyles

Nick, lower Dale. to going met prices. of -- of of most this coal guidance that be is because end the our is Yes, lower the

So to most. the royalties it's going on transportation have effect its

down be guidance, our very cost would for that really So year, change that outlook this market to expect don't driving much. these we conditions

catalyst, be. as hard identify kind far might As it's of to that what

So year. we're preparing at this throughout ourselves last would this

So met we've coal assumption price into in low cost those baked a assumptions in that guidance.

Unknown Analyst

I one I more, appreciate And that. if could.

the in spoken monitoring differentials. You've freight past about carefully

should think about your so particularly how by could tons sales otherwise sales your shift to -- may And any geography we gone that have how China.

Walter Scheller

likely those think are gone I into markets. flow China into that most have tons Well, still Asian the would

they would CFR. going still So be

So cost in think those of differential I of there terms for a would don't big transportation tons. be

Unknown Analyst

the and I color best all of continued Understood. luck. appreciate

Operator

And next come from question with will the Katja BMO Jancic Capital Markets.

Katja Jancic

quickly just the back shipments. sales on Maybe

Creek Blue So that is going fair more the half, and fact shipping filters? be second start shipments to it to more in given currently half that environment the weak volume is say the second might

Dale Boyles

Yes, that's right.

half. for we've that million into if look So that at Creek, well, to of guidance come the X our is majority and you tons going said the Blue second

Katja Jancic

to Is with maybe, Blue And a you can basically still price Creek. stands? A XX% especially bit high-vol Dale, from then the XX% price realization, about coming talk

Dale Boyles

PLV, that's relativity that to the the the change. volume right HCC now, may does to of history, get But now Yes, the XX%. of on the couple Level it if based you as historical with volumes the we of XXXX, end in through XX-year average years for look at back smaller higher a

However, the in XXXX, that relativity XX%. year was

time, but a index, you've relativity that So that of you -- year, this much widening it's stronger. on over had

more I think, range, see year in So we of end lower forward. could move that this we as the

Katja Jancic

I was last let Asia, into know one if how that shipped goes XX% one, that can Just may. much China? the you Of was of us that

Dale Boyles

that competitive we to obviously a just need give China. to don't volume by to we really if mean enough information not could, We country difference. to we're purposes, sensitive not it's say that reorient I for overcommitted make

Operator

next Company. the come Nathan from And with will Martin Benchmark The question

Nathan Martin

Maybe Thanks, operator. cost what kind range. real Dale, your Good just price net assuming Dale. XXX price a in afternoon, sales XXX assumptions back mentioned a [ to the cash there? of you ton. that guidance, and of kind Walt, the you of low Could you're quick ] provide coming us are

Dale Boyles

[indiscernible] assuming the a higher higher XXX price we're overcommit end the not We're -- PLV to Better but Yes. throughout of a a going than to for year. significantly the of year.

Nathan Martin

That's to I on next up obviously, starts at kind Perfect. the inventory you this prep Okay. year-end quarters helpful. front, there Creek. of Is ask Blue point? are the for wanted probably with X XXXX any also the in plant here before growing level guys targeting

Walter Scheller

back couple hundred thousand normalized that they'll would We of And tons a would per range. like say to of levels to I a that's get inventory down mine. probably couple a but hundred thousand come down,

won't we later of come Blue percentages until able third we and year, definitely as up we Creek fourth the -- quarter. But in finish move remember, to project. be the to the have in expect of to different the the to pieces high considerably You down it continue

Nathan Martin

those moving for speaking how along coming are then the overland belt Creek? with Blue tons, And structure there things of Okay.

Walter Scheller

Everything is pleased with project. the going very the very making budget. We're progress time, well, across on on we're

Nathan Martin

And everything partner going well? well through rail as

Walter Scheller

Yes. rail we'll plant Yes. ready preparation to is we're begin the [indiscernible]. places out, and load been been a And sure go. not trucking belt from yet see the where some money the when that few moving coal make we're to over ready of the investing to they've They've I've even

they'll to be up. where So to several in figure they'll months system firmed have out that get if need there's their any weaknesses

the we and set time shape. think by us good So the a have I port, up should to The we great coal the longwall be mine. really have in plan starts, that rail

Nathan Martin

under hear. today capital Great I commentary Okay. specifically then to structure opportunities. noticed one capital just your release additional maybe optimizing selective some section, strategic to allowing while in the more. the very And flexibility growth allocation pursue

bring have just the I the front that kind but was think what you to behind your of wondering [indiscernible], had that decision language I release? was press center in guys and to

Dale Boyles

that's Actually, X, X, in like for our years. X press release been

we're just not there to method look, a So committed or timing. specific it's to quarter caveat or

been So much encompassing. that's all for time. pretty It's a there long

Nathan Martin

Appreciate of luck it, in guys. Great, Dale. Okay. Best 'XX.

Operator

And again, your the muted. B. next question line may comes Nick be Nick, with from Riley. Giles

Unknown Analyst

In factors was your note of Or your remind and I to outlook, wondering magnitude do Sorry related could about any a could you this key And timing if affect new Blue of that contract. may labor any Creek? us you renewals? be that.

Walter Scheller

the with not Workers to Mine related we that's sure what like the contract would United it. fact result continue No, complete what new to still of we reached look if a negotiate have did not that and

Unknown Analyst

enough. I Creek we road increases a begins down wanted shareholder minimum the in Maybe balance ask the we just in one potential steady-state Fair How reach of about And context to cash should look operations. Blue returns? more. to as think when

Dale Boyles

Hi we Nick. as significantly that volumes, to Blue larger Creek online, be having on to get right? companies. Yes, we are close our going We're working in larger

what like So we think to forward. that looks going need about

this was haven't said, just very yet, significantly important we've had to we've are in risks because going low being changing past as it's levered but be a We than being conclusion come successful in always industry. more to to the and

update probably cash So close an to more go online. future. we real as have carrying on in the But the coming is Creek we'll a way that to little Blue get

Unknown Analyst

the I it. work. appreciate good keep and that, Dale, up Got

Operator

to turn Scheller Mr. call there time, for any go will ahead. comments. further Please over I the this questions. are At no now

Walter Scheller

afternoon. We our joining for call in interest concludes us your you appreciate Thank again today. this Warrior. That

Operator

today's concludes Thank Thank you participating. you. all And that for conference.

may disconnect. You now

Warrior Met Coal (HCC) 13 Feb 252024 Q4 Earnings call transcript