NASDAQ$METC
Ramaco Resources Inc · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Reported net income of $2.7 million and adjusted EBITDA of $10.8 million.
Ramaco Resources, Inc. reported a decrease in net income to $2.7 million, with earnings per diluted share of $0.06 for the quarter ended June 30, 2020. Adjusted EBITDA was $10.8 million. The company liquidity was $31.8 million as of June 30, 2020.
- Net income was $2.7 million (EPS of $0.06).
- Adjusted EBITDA was $10.8 million.
- Liquidity was $31.8 million as of June 30.
- Entered into an exclusive marketing arrangement with Square Resources to market metallurgical coal into the Asian steel markets.
Headline financials
Revenue & EPS history
Ramaco · Revenue · Quarterly
$36.4M
Forward guidance
Company is cautiously optimistic about the medium-term, citing improving U.S. steel capacity utilization, a projected increase in metallurgical coal prices, recovery in global steel demand, and near-record arbitrage between Chinese domestic and international met coal prices.
Tailwinds
- U.S. steel capacity utilization is currently at 59%.
- Forward pricing curve for metallurgical coal suggests a roughly 25% increase by the first quarter of 2021 to $135 per ton as compared to $107 per ton today.
- Global steel demand outside of China has also begun to recover.
- Temporary port restrictions continue to provide a near record $50 per ton arbitrage per Platts, when comparing Chinese domestic versus international met coal prices.
- Chinese steel production also seems to have fully rebounded from the COVID-19 slowdown, and appears on pace for yet another record year.
Headwinds
- Uncertainties of operating in today’s unprecedented conditions.
- Difficult personnel decisions in July with regard to our workforce levels and on capital spending.
- All discretionary capital spending remains suspended, until there is more market clarity.
- Received force majeure notices from two customers, which could adversely affect up to 12% of total contracted sales volumes for 2020.
- Cash margins on Company produced coal were down 62% from the same period of 2019, because of lower realized pricing, on the back of large declines on the various metallurgical coal indices.
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 Q2 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% | — | |
| 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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