NASDAQ$METC
Ramaco Resources Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Ramaco Resources' financial results for Q2 2023 were reported, revealing a decrease in net income compared to the previous quarter, but progress in production and strategic initiatives.
Ramaco Resources reported a net income of $7.6 million for Q2 2023, a decrease from $25.3 million in Q1 2023. The results were affected by transportation issues. The company is progressing with its rare earth element project and has updated its 2023 production and sales guidance.
- Net income was $7.6 million, down from $25.3 million in the previous quarter.
- Adjusted EBITDA was $30.0 million, compared to $48.3 million in the previous quarter.
- Transportation issues negatively impacted net income and Adjusted EBITDA by $9 million and $11 million, respectively.
- The company has 3.1 million tons of committed sales, with 2.2 million tons at a fixed price of $188 per ton.
Headline financials
Revenue & EPS history
Ramaco · Revenue · Quarterly
$137M
Forward guidance
Ramaco Resources updated its full-year 2023 guidance, adjusting production, sales, and capital expenditure expectations. The company anticipates increased production and sales in the fourth quarter, with a focus on cost management and strategic initiatives.
Tailwinds
- Berwind No. 1 mine's first section will complete development production soon, with the second section in full production during Q3 2023.
- Maben surface and highwall mines continue to increase production as projected.
- Elk Creek preparation plant reached full capacity of 3 million tons after a 50% capacity upgrade.
- Company expects to be selling coal at a quarterly rate above one million tons and an annual rate of more than 4 million tons by Q4 2023.
- The company is focusing on increasing met coal production and processing capacity at Elk Creek.
Headwinds
- 2023 production guidance lowered to 3.0 – 3.5 million tons from 3.1 – 3.6 million tons due to idling the Triple S mine.
- 2023 sales guidance updated to 3.1 – 3.6 million tons from 3.3 – 3.8 million tons.
- 2023 cash costs guidance increased to $102 – $108 per ton from $97-103 per ton due to inflation and higher mine development costs.
- 2023 Capital Expenditures lowered to $60 – $70 million from $65 – $80 million previously.
- U.S. metallurgical coal spot pricing is down over 20% from the first half of 2023.
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 2023
-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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