Ramaco Resources Q3 net income $19.5M, Adjusted EBITDA $45.4M; raises 2023 shipment guidance

Ramaco Resources, Inc.

2023-Q3 EPS reported $1.14 revenue$490,795,000

Net income $19.5M (Adjusted EPS $0.45) vs $7.6M in Q2; Adjusted EBITDA $45.4M, up 51% QoQ.
Shipped 996,000 tons (up 39% QoQ); full-year shipment guidance raised to 3.25-3.5M tons.
Repaid $10M debt in Q3; expects total debt ~$50M by year-end, down from $127M at end of 2022.
Company produced cash costs $114/ton; FY 2023 cash cost guidance raised to $108-$112/ton.
Committed 1.3M tons for 2024 at avg $167/ton; Brook Mine development begun for rare earth testing.

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 0.9

Ramaco Resources, Inc. reported financial results for third quarter of 2023.

Period: third quarter of 2023
Result: reported results

Exact text from the filing

On November 7, 2023, Ramaco Resources, Inc. (the “Company”) issued a press release reporting its financial and operating results for the third quarter of 2023 (the “Earnings Release”).

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Ramaco Resources, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-018000

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