2023-06-13 09:51:50 ET
Warrior Met Coal ( NYSE: HCC ) +2.7% in early trading Tuesday after issuing revised full-year guidance for FY 2023 in light of the end of the labor strike and resulting incremental production volume as employees return to work.
Revised guidance for the full year includes coal sales of 7.1M-7.7M short tons, coal production of 6.8M-7.4M short tons.
The company's revised capex guidance consists of sustaining capital spending of $95M-$105M, including regulatory and gas requirements, and discretionary capital spending of $325M-$345M, mostly for the development of the Blue Creek reserves.
"Despite our ability to continue to operate our business successfully during the labor strike, the upside to an increased workforce is material, but we are still short of our historical staffing levels," Warrior Met Coal ( HCC ) CEO Walt Scheller said.
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Warrior Met Coal sees full-year sales volumes rising 8%