Shares of Warrior Met Coal (NYSE: HCC) plunged as much as 23.1% in trading on Thursday after the company reported fourth-quarter 2020 financial results. Shares closed down 22.6% for the day.
Revenue was up a modest 3.6% versus a year ago, but the company reported a $33.7 million net loss, or $0.66 per share. A year ago, net income was $20.8 million. On an adjusted basis, which pulls out one-time items, the net loss was $0.63 per share, which was well short of the $0.33 loss that analysts expected.
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Why Warrior Met Coal's Shares Plunged 22.5% on Thursday