Ramaco Resources reports record 2022 net income of $116M, Q4 EPS $0.32; guides 2023 to another record

Ramaco Resources, Inc.

Net income FY 2022 $116M ($2.60 EPS) vs $39.8M ($0.90 EPS) in 2021; Q4 2022 net income $14.4M ($0.32 EPS) vs $18.6M ($0.42 EPS) in Q4 2021.
Adjusted EBITDA FY 2022 $204.6M (up 159% YoY); Q4 2022 $31.9M (flat vs $31.6M in Q4 2021).
2023 guidance: production 3.0-3.5M tons (21% increase), sales 3.2-3.7M tons, cash costs $97-103/ton, capex $60-80M (down 43%), expects record net income and Adjusted EBITDA.
Berwind mine returned to production March 1, 2023 one month ahead of schedule; Elk Creek prep plant capacity expansion to 3M tons/yr in late April.
KeyBank revolver increased to $175M in Feb 2023; logistics issues pushed 150K tons into Jan 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ramaco Resources, Inc. reported twelve-month period ended December 31, 2022 results: net income net income was $116.0 million or $2.60 per diluted share, EPS $2.60 per diluted share.

Period: twelve-month period ended December 31, 2022
Net income: net income was $116.0 million or $2.60 per diluted share
EPS: $2.60 per diluted share
Result: reported results

Exact text from the filing

For the twelve-month period ended December 31, 2022, net income was $116.0 million or $2.60 per diluted share.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ramaco Resources, Inc. reported three months ended December 31, 2022 results: net income net income of $14.4 million, or $0.32 per diluted share, EPS $0.32 per diluted share.

Period: three months ended December 31, 2022
Net income: net income of $14.4 million, or $0.32 per diluted share
EPS: $0.32 per diluted share
Result: reported results

Exact text from the filing

For the three months ended December 31, 2022, the Company reported net income of $14.4 million, or $0.32 per diluted share.

View on SEC.gov

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Ramaco Resources, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-003160

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