NASDAQ$METC
Ramaco Resources Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Reported a strong second quarter with significant increases in net income and Adjusted EBITDA compared to the previous year.
Ramaco Resources reported a strong second quarter in 2022, with net income of $33.3 million and Adjusted EBITDA of $57.9 million, representing increases of 235% and 220% respectively compared to the second quarter of 2021. The company built approximately 90,000 tons of inventory due to logistical issues, and has booked total 2022 sales of roughly 2.8 million tons as of August 4 at an average sales price of roughly $214 per ton.
- Net income was $33.3 million (diluted EPS of $0.74), a 235% increase over the previous second quarter.
- Adjusted EBITDA was $57.9 million, a 220% increase over the previous second quarter.
- Approximately 90,000 tons of inventory were built during the quarter due to logistical issues.
- Total 2022 sales were booked at roughly 2.8 million tons as of August 4 at an average sales price of roughly $214 per ton.
Headline financials
Revenue & EPS history
Ramaco · Revenue · Quarterly
$139M
Forward guidance
Ramaco Resources is adjusting its longer-term guidance to reflect a three-year target of achieving roughly 6.5 million tons of production by 2025 and expects to have a record year in 2022.
Tailwinds
- Company is poised to have a record second half and full-year 2022, with financial metrics at multiples of 2021.
- Company is in growth mode with a goal to increase production to meet future demand for high quality met coal.
- Company is adjusting longer-term guidance to reflect a three-year target of achieving roughly 6.5 million tons of production by 2025.
- This increase will be financed from internally generated cash flow.
- Company intends to sell coal into whatever markets will yield the best netback pricing for 2023.
Headwinds
- First half delivered sales suffered from poor rail service.
- Company built almost 90,000 tons of inventory during the second quarter of 2022, compounding the same logistical issue from the first quarter.
- Had the rails performed, results would have been even stronger and closer to consensus projections.
- Company reduced full-year 2022 production guidance, and increased cost guidance due to Berwind methane ignition incident.
- Company is working closely with both MSHA and West Virginia MHST to investigate the matter and hopefully will soon begin remediation efforts on the affected mine.
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 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 | — | — | — |
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