Filing Flows › Warrior MET Coal (HCC) › Q3 2025
Warrior MET Coal (HCC) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Warrior MET Coal (HCC) reported revenue of $329M for the third quarter 2025 (Q3 2025), +0.3% from a year earlier and +10% from the quarter before. Operating margin was 6.3%, net earnings $36.6M (11.1% of revenue).
Warrior MET Coal, Q3 2025: revenue $329M (+0.3% year over year), operating margin 6.3%, net earnings $36.6M, operating cash flow $105M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $329M | +10% | +0.3% |
| Operating profit | $20.7M | +168% | -47% |
| Net earnings | $36.6M | +553% | -12% |
| Operating cash flow | $105M | +179% | +68% |
| Free cash flow | $22.1M | — | — |
What changed
Revenue was $328.6M in Q3 2025, roughly flat year over year and up 10% from the previous quarter. Product was the largest line at 97% of revenue. Product and Service Other added $844K year over year (up 11%), 97% of the total change.
Operating profit was $20.7M, a 6.3% margin (down 5.6 points year over year). Operating profit fell $18.4M even though revenue rose $869K versus a year earlier, so costs grew faster than sales. Total costs grew 7% against flat revenue. The fastest-growing cost line was SG&A (+49%). Net earnings were $36.6M, down 12% year over year. The effective tax rate was -60.2%.
Operating cash flow was $104.7M (up 68% year over year), 286% of net earnings. Non-cash charges added back $43.6M of depreciation and amortization and $5.2M of share-based compensation. Working capital and other items added $19.3M. Capital expenditures of $82.6M left free cash flow of $22.1M.
Questions
What was Warrior MET Coal's revenue in the third quarter 2025?
Warrior MET Coal (HCC) reported revenue of $329M for the third quarter 2025 (Q3 2025), +0.3% from a year earlier and +10% from the quarter before.
Was Warrior MET Coal profitable in the third quarter 2025?
Operating profit was $20.7M (6.3% of revenue) and net earnings $36.6M.
Source: Warrior MET Coal 10-Q on SEC EDGAR.