Warrior Met Coal, Inc., a leading metallurgical coal provider, witnessed a decline in its first-quarterly earnings compared to the previous year and failed to meet the expectations set by Wall Street.
The firm announced profits amounting to $137.0 million, translating to $2.62 per share, a noticeable dip from the $182.3 million, or $3.51 per share, reported during the same quarter in the previous year.
After ruling out certain factors, the adjusted earnings of Warrior Met Coal, Inc. was revealed to be $2.63 per share for the given period.
The average projection set by analysts was that the company would garner $2.75 per share, as compiled by Thomson Reuters. It should be noted these predictions generally exclude extraordinary items.
The company's quarterly revenue also saw a slight decrease of 1.2%, dropping to $503.5 million from the $509.7 million reported last year.
In terms of GAAP metrics, the earnings for Warrior Met Coal, Inc. were $137.0 million compared to $182.3 million last year, earnings per share were $2.62 compared to last year’s $3.51, and revenues were $503.5 million, down from $509.7 million the previous year.
