Warrior Met Coal (HCC) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Warrior Met Coal published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Warrior Met Coal reports no adjusted EPS. Its non-GAAP measures are Adjusted EBITDA, cash cost of sales (free-on-board port) and free cash flow.
• Warrior's release gives volumes and prices per short ton; its 10-Q gives the same figures per metric ton (1 short ton is 0.907185 metric tons).

Source: Warrior Met Coal Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Warrior Met Coal splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Warrior Met Coal's Sales (steelmaking coal) revenue was $501 million in Q3 2026, up 57% from $320 million in Q3 2025, 99% of total revenue.
• Warrior Met Coal's Other revenues revenue was $6.9 million in Q3 2026, down 20% from $8.6 million in Q3 2025, 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Warrior Met Coal said:

“The Company reaffirmed its guidance for the full year 2026, as updated last quarter.”

“Coal sales 13.0-14.0 million short tons”

“Coal production 12.5-13.5 million short tons”

“Cash cost of sales (free-on-board port) $95-$105 per short ton”

Source: Warrior Met Coal Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the HCC forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Warrior Met Coal's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Warrior Met Coal's Q3 2026 total revenues were $507.9 million, against $328.6 million a year earlier. Almost all of it is coal: sales of steelmaking coal were $501.0 million, and other revenues (natural gas sold as a byproduct of the mines, plus royalties) were $6.9 million. (Warrior Met Coal Q3 2026 release (EX-99.1), Nov 4, 2026; Warrior Met Coal Form 10-Q, Q3 2026, Nov 4, 2026)

Volume did most of the work. Warrior sold 3.5 million short tons, up 48%, and produced 3.1 million, up 36%, because of the Blue Creek mine, whose longwall started in October 2025. The 10-Q puts $154.1 million of the $181.1 million rise in sales on volume and $27.0 million on price, with the average net selling price up $8.52 to $158.25 per metric ton ($143.56 per short ton). (Warrior Met Coal Q3 2026 release (EX-99.1), Nov 4, 2026; Warrior Met Coal Form 10-Q, Q3 2026, Nov 4, 2026)

Warrior's price realization fell. Its average gross selling price realization was about 66% of the Platts PLV FOB Australian index, against 83% a year earlier, because of a 25% higher sales mix of High-Vol A coal sold mostly into the Pacific Basin at higher freight rates and lower price relativities. Higher Pacific freight costs and demurrage tied to the conflict in the Middle East, plus vessel loading delays at the port, also held back the net price. (Warrior Met Coal Q3 2026 release (EX-99.1), Nov 4, 2026)

The quarter's sales volume mix was 55% Asia, 35% Europe and 10% South America, against 38% Asia, 43% Europe and 18% South America in Q3 2025. Sales are concentrated: in 2025 Warrior's five largest customers accounted for about 56% of sales revenues, and one customer for 11.9%. (Warrior Met Coal Form 10-Q, Q3 2026, Nov 4, 2026; Warrior Met Coal Form 10-K, 2025, Feb 12, 2026)

Warrior Met Coal earned $0.93 per diluted share in Q3 2026, up from $0.70. It does not publish an adjusted EPS. The year-ago quarter was helped by a $13.7 million income tax benefit; this quarter's tax line was a $0.4 million benefit, with the rate held below the 21% statutory rate by percentage depletion and the foreign-derived deduction. (Warrior Met Coal Q3 2026 release (EX-99.1), Nov 4, 2026; Warrior Met Coal Form 10-Q, Q3 2026, Nov 4, 2026)

Costs rose with volume. Cost of sales was $368.5 million and depreciation and depletion rose to $68.1 million from $43.6 million as Blue Creek came into service. Cash cost of sales per short ton rose 4% to $104.98, which Warrior put down to price-linked transportation and royalty costs, lower production at Mine No. 7 and inflation, partly offset by Blue Creek's lower costs and $10.8 million of Section 45X production tax credit booked as a reduction to cost of sales. (Warrior Met Coal Q3 2026 release (EX-99.1), Nov 4, 2026; Warrior Met Coal Form 10-Q, Q3 2026, Nov 4, 2026)

Diluted shares were 52,883 thousand, little changed from 52,650 thousand. Adjusted EBITDA rose 76% to $124.0 million, a 24.4% margin, and free cash flow was $138.9 million against negative $19.5 million a year earlier, when Blue Creek construction spending was still running. (Warrior Met Coal Q3 2026 release (EX-99.1), Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Warrior Met Coal reaffirmed its full-year 2026 guidance as updated last quarter: coal sales of 13.0 to 14.0 million short tons, production of 12.5 to 13.5 million short tons, cash cost of sales of $95 to $105 per short ton, sustaining capital expenditures of $105 to $115 million and Blue Creek capital expenditures of $50 to $75 million. It listed one longwall move remaining in Q4, index pricing and freight, trade and tariff policy and a new labor contract among the factors that may affect the outlook. (Warrior Met Coal Q3 2026 release (EX-99.1), Nov 4, 2026)

Warrior declared a special dividend of $2.00 per share, about $106 million, payable November 20, 2026, alongside the regular $0.08 quarterly dividend. Its release gives no revenue or EPS forecast. (Warrior Met Coal Q3 2026 release (EX-99.1), Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Warrior Met Coal, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Warrior Met Coal's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning HCC is on is HCC a buy or a sell?, what analysts expect next is on the HCC forecast, and what the company does is on the Warrior Met Coal (HCC) stock page.

Every number on this page can be traced to a document Warrior Met Coal published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.