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Warrior Met Coal, Inc. (NYSE:HCC), a $2.7 billion metallurgical coal producer currently trading near undervalued levels according to InvestingPro analysis, reported this week that its subsidiary, Warrior Met Coal BC, LLC, received an imminent danger order from the federal Mine Safety and Health Administration (MSHA) at the Blue Creek mine on Wednesday. According to a statement provided in a Securities and Exchange Commission filing, the order was issued after a miner was allegedly seen working from a ladder without proper fall protection. This safety incident comes as the company maintains a strong financial position with a healthy current ratio of 5.14, indicating robust operational liquidity despite recent challenges.
The company stated that Blue Creek management immediately took corrective action, including providing re-training to employees on safety procedures. No injuries were reported, and mine operations were not interrupted. Warrior Met Coal said it reserves the right to contest the MSHA order.
In a separate matter, the company’s board of directors approved and adopted an amendment to its Second Amended and Restated Bylaws on Monday. The amendment clarifies the time period during which a stockholder’s notice of business or a Proxy Access Notice must be received if an annual meeting is scheduled more than 30 days earlier or more than 60 days later than the anniversary of the previous year’s meeting.
These disclosures were made in a press release statement and included in the company’s Form 8-K filing with the SEC.
In other recent news, Warrior Met Coal has announced a regular quarterly cash dividend of $0.08 per share. This dividend will be distributed to stockholders on August 15, 2025, with the record date set for August 8, 2025. Additionally, the company experienced a notable 4.1% increase in its stock value amidst broader gains in coal stocks. This rise is attributed to speculation regarding potential production cuts by Chinese coal producers, driven by government mandates. Such developments have impacted U.S.-listed coal companies, with Peabody Energy and Ramaco Resources (NASDAQ:METC) also seeing gains. While the dividend announcement provides a steady return for shareholders, the market’s reaction reflects broader industry trends. Warrior Met Coal remains a significant player in the global steel industry, focusing on metallurgical coal. These recent developments highlight the company’s ongoing financial strategies and market dynamics.
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