NASDAQ$METC
Ramaco Resources Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported financial results for Q3 2023, highlighting increased shipments and net income.
Ramaco Resources reported a strong third quarter with increased shipments and net income. The company shipped 996,000 tons of coal, achieving its guidance. Net income was $19.5 million, and Adjusted EBITDA was $45.4 million. The company also increased its full-year 2023 coal shipment guidance.
- Net income reached $19.5 million with Adjusted EPS at $0.45.
- Adjusted EBITDA was $45.4 million, including benefits from insurance claim proceeds.
- Shipped 996,000 tons of coal, meeting the company's sales guidance.
- The company repaid $10 million of debt related to the 2022 Ramaco Coal acquisition.
Headline financials
Revenue & EPS history
Ramaco · Revenue · Quarterly
$187M
Forward guidance
Ramaco Resources increased its full-year 2023 coal shipment guidance and expects cash mine costs to be at the high end of the previous guidance range.
Tailwinds
- Increased midpoint of full-year 2023 coal shipment guidance to 3.25 – 3.5 million tons.
- Anticipates an ongoing working capital benefit into 2024.
- Berwind mine produced at a half million ton per annum run-rate in September and October.
- Committed 1.3 million tons of coal to North American customers for 2024 at an average price of $167 per ton.
- Mine development commenced at the Brook Mine with an initial goal of obtaining additional quantities of rare earth material.
Headwinds
- Expects cash mine costs to be at the high end of the previous $102 –108 per ton guidance range for both full-year 2023 and the fourth quarter of 2023.
- Anticipates costs coming in at $108 - $112 per ton due to continued inflationary pressure.
- Overall coal inventory levels declined almost 40% from 1.4 million tons to approximately 0.9 million tons.
- Realized price of $157 per ton during the third quarter was down from $163 per ton in the second quarter 2023.
- Cash margins on Company produced coal were $43 per ton during the third quarter, down from $54 per ton in the second quarter 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 Q3 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% | -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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