NASDAQ$METC
Ramaco Resources Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Reported a decrease in net income and revenue compared to the same quarter last year, but cash costs per ton sold at Elk Creek were below prior guidance.
Ramaco Resources reported a net income of $2.0 million and revenue of $41.9 million for Q1 2020. The company's cash costs per ton sold at Elk Creek were $61, below the prior guidance. They strengthened their liquidity position through cost reduction initiatives and additional borrowing.
- Net income was $2.0 million and adjusted EBITDA was $8.4 million.
- Revenue was $41.9 million and revenue per ton on Company produced coal was $93.
- Cost of sales was $30.9 million and cash costs per ton sold at Elk Creek was $61.
- Company has strengthened its liquidity position through cost reduction initiatives and borrowing $13.2 million in additional low coupon promissory notes.
Headline financials
Revenue & EPS history
Ramaco · Revenue · Quarterly
$41.9M
Forward guidance
Due to current market uncertainty, Ramaco is suspending production guidance other than continuing to provide current sales commitments.
Tailwinds
- The company has locked in domestic sales for the majority of its planned 2020 volumes at levels above current spot prices.
- Ramaco believes that they made the right decision to reduce their exposure to index-based seaborne pricing for 2020.
- The company remains confident that the global supply/demand balance of high quality metallurgical coal will remain tight.
- Three projects could add over 1.2 million tons of annual low-vol and mid-vol production at full capacity, which would normalize at about 900,000 additional tons per year over time.
- Our operating team did another excellent job controlling mining costs, with Elk Creek first quarter cash costs of $61 among the lowest in Central Appalachia.
Headwinds
- Market and societal upheaval due to COVID-19.
- The company has hit the pause button on all discretionary spending, until there is more market clarity and also took additional measures to increase our near-term liquidity.
- Inventory increased by over $8 million since year-end 2019.
- Operational and financial challenge will be to navigate through these unprecedented times and treacherous markets for perhaps the next two quarters.
- There is uncertainty on every front.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2020
-2.0%
Avg return
Earnings day
+2.9%
Avg return
5 days after
-1.1%
Avg return
30 days after
41%
15 / 37 earnings
Positive
+19.9%
Q2 2021
Best reaction
-18.4%
Q3 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.6% | -2.2% | -3.6% | |
| Q4 2025 | -15.4% | -12.4% | -11.9% | |
| Q3 2025 | -16.9% | -10.6% | -53.9% | |
| Q1 2025 | -0.4% | +3.8% | +12.1% | |
| Q4 2024 | -3.9% | +13.8% | -8.2% | |
| Q3 2024 | +10.2% | +17.5% | +39.4% | |
| Q2 2024 | +10.9% | +12.7% | -19.9% | |
| Q1 2024 | -15.4% | -17.7% | -16.7% | |
| Q4 2023 | +7.7% | -9.0% | -17.3% | |
| Q3 2023 | -1.8% | +46.6% | +43.5% | |
| Q2 2023 | -11.9% | -11.6% | -15.4% | |
| Q1 2023 | +9.7% | +33.5% | +3.2% | |
| Q4 2022 | -3.9% | -4.5% | -13.2% | |
| Q3 2022 | -7.7% | -12.1% | -9.8% | |
| Q2 2022 | -17.1% | -4.7% | -9.7% | |
| Q1 2022 | +2.6% | +11.0% | +22.8% | |
| Q4 2021 | -10.7% | +0.4% | -1.4% | |
| Q3 2021 | -10.9% | -13.9% | -30.8% | |
| Q2 2021 | +19.9% | +25.0% | +34.6% | |
| Q1 2021 | +8.9% | +17.4% | +32.4% | |
| Q4 2020 | +8.4% | +14.9% | +1.8% | |
| Q3 2020 | -1.3% | -2.7% | +5.6% | |
| Q2 2020 | +7.5% | +13.3% | +20.8% | |
| Q1 2020 | -8.8% | -4.2% | +8.8% | |
| Q4 2019 | -3.9% | -9.9% | -16.1% | |
| Q3 2019 | -6.5% | -3.1% | -11.5% | |
| Q2 2019 | -9.7% | +7.2% | +30.5% | |
| Q1 2019 | -4.3% | -5.0% | -19.2% | |
| Q4 2018 | +8.8% | +12.0% | +2.7% | |
| Q3 2018 | -17.8% | -19.5% | -29.9% | |
| Q2 2018 | +5.9% | +24.3% | +20.9% | |
| Q1 2018 | -0.3% | +3.2% | +13.1% | |
| Q4 2017 | +1.1% | +6.7% | -9.2% | |
| Q3 2017 | -18.4% | -26.2% | -15.4% | |
| Q2 2017 | -8.5% | -2.5% | -1.3% | |
| Q1 2017 | +2.9% | +8.1% | -9.1% | |
| Q4 2016 | +16.2% | +9.4% | -11.2% | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — |
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