Ramaco Resources Q1 net income $2.0M, adj. EBITDA $24.2M; weaker pricing and higher costs hit results

Ramaco Resources, Inc.

2024-Q1 EPS reported $0.00 revenue$172,676,000

Net income $2.0M, down 93% from Q4 2023; Class A EPS $0.00 vs $0.57 YoY.
Adjusted EBITDA $24.2M, down 59% from Q4 2023; revenue $172.7M, down 15% QoQ.
Cash costs per ton $118 (+10% QoQ); cash margins $37/ton (down from $68 in Q4 2023).
Quarterly dividend declared: $0.1375 per Class A share; $0.2376 per CORE Resources Class B share.
Revolver increased to $200M with $75M accordion; five-year term; 2024 guidance maintained.

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 the three months ended March 31, 2024 results: net income $2.0 million, EPS $0.00. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Net income: $2.0 million
EPS: $0.00
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Ramaco Resources, Inc. (NASDAQ: METC, METCB, “Ramaco” or the “Company”), a leading operator and developer of high-quality, low-cost metallurgical coal, today reported financial results for the three months ended March 31, 2024.

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Ramaco Resources, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-24-007350

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