Filing Flows › Materials › Warrior MET Coal (HCC)
Warrior MET Coal (HCC) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Warrior MET Coal (HCC) Q3 2026 earnings results →
Q3 2026 Revenue up 55% year over year to $508M · 10¢ of every $1 of revenue kept as net profit · operating margin 10.0%
Warrior MET Coal made $508M in Q3 2026 (+55% Y/Y): Product $501M, Product and Service Other $6.9M. Operating margin 10.0%, net earnings $49.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $507.9M in Q3 2026, up 55% year over year and roughly flat from the previous quarter. Product was the largest line at 99% of revenue. Product added $181.1M year over year (up 57%), 101% of the total change. Product and Service Other declined 20%.
Operating profit was $50.8M, a 10.0% margin (up 3.7 points year over year). Of the extra revenue versus Q3 2025, 17% reached operating profit, above the 6% margin then. Total costs grew 48% against revenue growth of 55%. The fastest-growing cost line was Cost of revenue (+54%). Net earnings were $49.3M, up 35% year over year. The effective tax rate was -0.9%.
Operating cash flow was $166.0M (up 59% year over year), 337% of net earnings. Non-cash charges added back $68.1M of depreciation and amortization and $3.4M of share-based compensation. Working capital and other items added $45.2M. After purchases of property, plant and equipment and mine development costs ($27.1M), free cash flow as the company reports it was $138.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $508M | +55% | 10.0% | $49.3M | $166M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $510M | +71% | 18.5% | $87.4M | $132M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $459M | +53% | 17.3% | $72.3M | −$11.7M |
| Q4 2025 | 10-K | Feb 12, 2026 | $384M | +29% | 9.0% | $23.0M | $76.1M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $329M | +0.3% | 6.3% | $36.6M | $105M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $298M | -25% | 2.6% | $5.6M | $37.5M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $300M | -40% | -5.8% | −$8.2M | $10.9M |
Charts
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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About Warrior MET Coal
Warrior Met Coal, Inc. (together with its subsidiaries, the "Company" or "Warrior") is a U.S.-based, environmentally and socially minded supplier to the global steel industry headquartered in Brookwood, Alabama. We are dedicated entirely to mining non-thermal steelmaking coal used as a critical component of steel production by metal manufacturers in Europe, South America and Asia. We are a large-scale, low-cost producer and exporter of premium quality met or steelmaking coal, also known as hard coking coal (“HCC”), operating highly efficient longwall operations in our underground mines based in Alabama, Mine No. 4 and Mine No. 7. Our steelmaking coal production totaled 7.5 million metric tons in 2024. Our natural gas operations remove and sell natural gas from our owned and leased coal seams by reducing natural gas levels in our mines.
In its own words, from its 10-K, filed Feb 13, 2025.
Warrior MET Coal against its Silver Ores peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +55% against the peers' median +24%. Operating margin: 10.0% against the peers' median 0.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HCC Warrior MET Coal | Q3 2026 | $508M | +55% | 10.0% |
| CNR Core Natural Resources | Q3 2026 | $1.1B | +14% | 0.6% |
| CODQL Coronado Global Resources | Q2 2026 | $514M | +10% | -8.7% |
| METC Ramaco Resources | Q3 2026 | $150M | +24% | -14.1% |
Source: Warrior MET Coal 10-Q on SEC EDGAR · CIK 1691303 · Silver Ores
13F: who owns HCC and who is buying
More on HCC
- How Warrior MET Coal makes money: revenue by segment
- Warrior MET Coal next earnings date and what analysts expect
- Warrior MET Coal stock forecast, price target and fair value
- Who owns Warrior MET Coal stock: holders, funds and Congress trades
- Warrior MET Coal guidance and outlook
- Is Warrior MET Coal a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Warrior MET Coal guidance history: guided vs reported
- Warrior MET Coal operating margin by quarter
- Warrior MET Coal net income by quarter
- Warrior MET Coal free cash flow by quarter
- Warrior MET Coal capital expenditures by quarter
- Warrior MET Coal Product revenue by quarter
- Warrior MET Coal Product and Service Other revenue by quarter