Warrior Met Coal, Inc. (NYSE:HCC) Q1 2023 Earnings Conference Call May 3, 2023 4:30 PM ET

Company Participants

Walt Scheller - Chief Executive Officer

Dale Boyles - Chief Financial Officer

Conference Call Participants

Lucas Pipes - B. Riley Securities

Nathan Martin - The Benchmark Company

Luther Lu - LMR Partners

Operator

Good afternoon. My name is Kate, and I will be your conference operator today. At this time, I would like to welcome everyone to the Warrior Met Coal First Quarter 2023 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] This call is being recorded and will be available for replay on the Company's website.

Before we begin, I have been asked to note that today's discussion may contain forward-looking statements, and actual results may differ materially from those discussed. For more information regarding forward-looking statements, please refer to the company's press releases and SEC filings.

I have also been asked to note that, the company has posted reconciliations to of the non-GAAP financial measures discussed during this call in the tables accompanying the company's earnings press release located on the Investors section of the company's website at www.warriormetcoal.com. In addition to the earnings release, the company has posted a brief supplemental slide presentation to the Investors section of its website at www.warriormetcoal.com.

Here today to discuss the Company's results are: Mr. Walt Scheller, Chief Executive Officer; and Mr. Dale Boyles, Chief Financial Officer. Mr. Scheller, you may begin your remarks.

Walt Scheller

Thanks operator. Hello, everyone, and thank you for taking the time to join us today to discuss our first quarter 2023 results. After my remarks, Dale will review our results in additional detail, and then you'll have the opportunity to ask questions. We were pleased to deliver another extremely strong quarter reflected in our financial results and better-than-expected sales and production volumes. We entered the first quarter with optimism that strong customer demand, with facilitated drawdown of our inventories with the expectation of continuous improvement and performance at the McDuffie Terminal.

We've previously spoken about the performance issues at the McDuffie Terminal and have taken a number of actions to address them. Over the past few months, we've implemented several initiatives to improve the loading throughput at the terminal, including the allocation of personnel and resources. These initial efforts focus primarily on addressing maintenance and equipment reliability issues on belt conveyor systems.