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Warrior Met Coal Reports Second Quarter 2021 Results Aug 04 , 2021 Delivers strong cash flows on tight cost management BROOKWOOD , Ala .-- ( BUSINESS WIRE ) -- Warrior Met Coal , Inc. ( NYSE : HCC ) ( " Warrior " or the " Company " ) today announced results for the second quarter of 2021. Warrior is the leading dedicated U.S. based producer and exporter of high quality metallurgical ( " met ” ) coal for the global steel industry . Warrior reported a net loss for the second quarter of 2021 of $ 4.7 million , or $ 0.09 per diluted share , compared to a net loss of $ 9.2 million , or $ 0.18 per diluted share , in the second quarter of 2020 . Adjusted net income per share for the second quarter of 2021 was $ 0.25 per diluted share compared to adjusted net loss per share of $ 0.18 per diluted share in the second quarter of 2020. The Company reported Adjusted EBITDA of $ 65.2 million in the second quarter of 2021 , compared to Adjusted EBITDA of $ 20.3 million in the second quarter of 2020 . " As global steel production continues its recovery trajectory from the impact of the COVID - 19 pandemic , we were pleased to see strong market demand from customers around the world in the second quarter , ” commented Walt Scheller , CEO of Warrior . " With met coal prices improving during the quarter , we were able to take advantage of the groundwork we previously established to increase our selling and reduce our inventories . Importantly , we were able to capitalize on China's ban on Australian coal imports through increased sales to Chinese customers at higher prices compared to the Australian FOB prices . As a result of pricing dynamics and our ability to successfully manage our costs , working capital and capex spending , we were able to deliver another strong quarter of free cash flow and adjusted EBITDA . " Mr. Scheller continued , " We continue to execute successfully on our business continuity plans in response to the UMWA strike which began on April 1 , allowing us to continue to meet the needs of our valued customers . While we continue to negotiate in good faith to reach a new contract , the UMWA unfortunately remains on strike . Despite incurring costs associated with the strike , we have been able to manage our working capital and spending to deliver strong results in this market . " Operating Results The Company produced 1.2 million short tons of met coal in the second quarter of 2021 compared to 2.1 million short tons in the second quarter of 2020. Sales volume in the second quarter of 2021 was 1.8 million short tons compared to 1.5 million short tons in the second quarter of 2020. Inventory levels declined to 503 thousand short tons at the end of June 30 , 2021 from the 1.2 million short tons at the end of March 31 , 2021 . Additional Financial Results Total revenues were $ 227.4 million for the second quarter of 2021 , including $ 224.8 million in mining revenues , which consisted of met coal sales of 1.8 million short tons at an average net selling price of $ 123.36 per short ton , net of demurrage and other charges . This compares to total revenues of $ 163.7 million in the second quarter of 2020. The average net selling price of the Company's met coal increased 14 % from $ 108.05 per short ton in the second quarter of 2020 to $ 123.36 per short ton in the second quarter of 2021. During the second quarter of 2021 , the Company's gross price realization was 100 % of the quarterly Australian premium low - volatility hard coking coal ( " HCC " ) Platts Premium LV FOB Australian Index ( the " Platts Index " ) price . The year - over - year increase in revenues is primarily attributed to an increase in met coal sales volumes combined with improved met coal pricing . Cost of sales for the second quarter of 2021 were $ 152.8 million compared to $ 130.8 million for the second quarter of 2020. Cash cost of sales ( including mining , transportation and royalty costs ) for the Page 1 of 14