NASDAQ$METC
Ramaco Resources Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Reported a net loss due to force majeure and lower realized pricing.
Ramaco Resources reported a net loss of $4.8 million, or $0.11 per diluted share, for the third quarter of 2020. Adjusted EBITDA was $0.6 million, negatively impacted by force majeure events. Export coal sales reached a quarterly record, and the company anticipates year-end liquidity above $30 million.
- Net loss was $4.8 million (EPS loss of $0.11), while adjusted EBITDA was $0.6 million in the third quarter of 2020.
- Adjusted EBITDA was negatively affected by $2.6 million, primarily due to the force majeure of nearly 90,000 tons scheduled to be shipped domestically and subsequently resold into a lower priced spot market.
- Export coal sales (including to Canada) of almost 300,000 tons were a quarterly record for the Company.
- Year-end 2020 liquidity is anticipated to be above $30 million, as compared to $21.8 million at year-end 2019.
Headline financials
Revenue & EPS history
Ramaco · Revenue · Quarterly
$39.5M
Forward guidance
Ramaco Resources expects to end the year with over $30 million in liquidity and anticipates a record fourth quarter of shipping over 500,000 total tons. The company has placed roughly 1.1 million mostly high-vol tons for 2021 at an average price of $84 per ton.
Tailwinds
- Expect to end the year with over $30 million in liquidity.
- Have now placed roughly 1.1 million mostly high-vol tons for 2021 at an average price of $84 per ton.
- Markets are stronger than these prices might suggest given the contango in the forward price curve.
- Reserved over one million tons of additional production to be placed into export markets throughout 2021.
- Anticipate a record fourth quarter of shipping over 500,000 total tons.
Headwinds
- Uncertainties of operating in today’s unprecedented COVID-19 conditions.
- Force majeures negatively impacted cost structure.
- Metallurgical coal price indices hit a multi-year low in the third quarter, due to COVID-19 related demand concerns.
- Shipments were intermittent, due to the impact of COVID-19.
- Received force majeure notices from two customers, which could adversely affect up to 10% of the total contracted sales volumes.
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 Q3 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 | — | — | — |
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