American Resources posts Q3 net income of $3.48M; LOIs for carbon assets total ~$300M

American Resources Corp

Net income of $3.48M ($0.05 EPS) vs loss of $5.27M ($0.08 loss) YoY; adjusted EBITDA $4.75M.
Revenue $5.83M, down 39% YoY from $9.51M; coal sales $5.72M.
Entered LOIs to sell American Carbon assets for total ~$300M (~$3.84/share).
ReElement achieved ultra-pure Li2CO3 at 99.96% from spodumene ore; closed $44.9M incentives for Marion, IN refinery.
Converted ReElement to corporation for spinoff under ticker RLMT; closed SPAC merger with RMCO.

item 2.02 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

American Resources Corp reported third quarter of 2023 results: net income $3.48 million, EPS $0.05.

Period: third quarter of 2023
Net income: $3.48 million
EPS: $0.05
Result: reported results

Exact text from the filing

American Resources Corporation Reports Third Quarter 2023 Financial Results and Provides Business Outlook Company reports a 165% YoY increase in net income of $3.48 million and EPS of $0.05 for the third quarter of 2023

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

American Resources Corp filing history →

Source: SEC EDGAR

accession 0001654954-23-014358

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