Ramaco Q2 net income $7.6M, down 70% QoQ; REE target up 50%, guidance cut

Ramaco Resources, Inc.

2023-Q2 EPS reported $0.73 revenue$303,829,000

Net income $7.6M ($0.17 EPS) vs Q1 $25.3M ($0.57); Adjusted EBITDA $30M, down 38% from Q1.
Revenue $137.5M, down 17% QoQ; sales 715K tons, hit by 85K-ton rail delay (NS/CSX).
REE exploration target raised to 0.9–1.2M tons TREOs (up 50%); $2.5M approved for development mining.
Dividends: $0.125/share Class A, $0.165/share Class B (first METCB dividend).
2023 guidance: prod. 3.0–3.5M tons (prev. 3.1–3.6M), cash costs $102–108/ton (prev. $97–103), capex $60–70M.

item 2.02 item 7.01 item 9.01

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 the three months and six months ended June 30, 2023 results: net income net income of $7.6 million (diluted EPS of $0.17), EPS diluted EPS of $0.17.

Period: the three months and six months ended June 30, 2023
Net income: net income of $7.6 million (diluted EPS of $0.17)
EPS: diluted EPS of $0.17
Result: reported results

Exact text from the filing

On August 8, 2023, Ramaco Resources, Inc. (the “Company”) issued a press release reporting its financial and operating results for the second quarter of 2023 (the “Earnings Release”).

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Ramaco Resources, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-013974

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