NASDAQ$METC
Ramaco Resources Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Reported record quarterly financial performance, driven by favorable market conditions and increased production levels.
Ramaco Resources reported a record first quarter 2022, with net income of $41.5 million and Adjusted EBITDA of $64.1 million, driven by favorable market conditions and increased production. The company was impacted by rail service delays, which negatively impacted EPS by $0.38 and Adjusted EBITDA by $23.0 million. They anticipate a record second quarter and an increased cadence in all key metrics in second half results.
- Net income was $41.5 million (diluted EPS of $0.92) and Adjusted EBITDA was $64.1 million.
- Total booked sales of roughly 2.4 million tons, with roughly 90% or 2.1 million tons of those sales booked at a fixed price.
- Quarterly production of 666,000 tons came in slightly ahead of budget.
- The Company closed on the purchase of 100% of the equity interests of Ramaco Coal, LLC.
Headline financials
Revenue & EPS history
Ramaco · Revenue · Quarterly
$155M
Forward guidance
The company expects to increase guided production from up to 3.4 million tons this year by over 20% to over 4 million tons in 2023. The company anticipates higher earnings by next quarter from improving rail service, greater production and a decrease in overall costs, especially on royalties as a consequence of the Ramaco Coal acquisition.
Tailwinds
- Anticipate a record second quarter and an increased cadence in all key metrics in second half results.
- Committed sales for 2.4 million tons or almost 70% of our 2022 production at the high end of guidance.
- Still have almost 30% of our production left to sell into export markets at currently record levels of pricing.
- Expect to increase guided production from up to 3.4 million tons this year by over 20% to over 4 million tons in 2023.
- Anticipate higher earnings by next quarter from improving rail service, greater production and a decrease in overall costs.
Headwinds
- Operationally during this quarter, because of rail delays we built far more inventory of coal (over 80,000 tons) than we had planned.
- Could not control our rail logistics and received cars for only roughly 80% of our expected shipments.
- First quarter earnings per share would have been $0.38 higher and Adjusted EBITDA would have increased by $23 million to almost $90 million had the rail shipments been on time.
- Immediate met coal spot prices are currently down from the peak.
- Higher than anticipated inflationary headwinds.
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 2022
-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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro