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Stock impact report

Ramaco Resources, Inc. Reports Second Quarter 2022 Financial Results

Ramaco Resources, Inc. (METC) 
Last ramaco resources, inc. earnings: 2/20 04:59 pm Check Earnings Report
Company Research Source: PR Newswire
LEXINGTON, Ky., Aug. 8, 2022 /PRNewswire/ -- For the second quarter of 2022, quarterly net income was $33.3 million (diluted EPS of $0.74) and Adjusted EBITDA was $57.9 million, which respectively were 235% and 220% higher than our previous second quarter records. We built approximately 90,000 tons of inventory during the second quarter of 2022 due largely to continued logistical issues in the form of slow rail service. This brings the total inventory build for first half of 2022 to over 180,000 tons. Had this coal timely shipped in the first half of 2022 as expected, we believe EPS and Adjusted EBITDA would have been higher by $0.65 per share and $40 million respectively1.The Company 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 fob mine2. Approximately 200,000 tons of future production is remaining to be placed.We estimate that these 2.8 million tons of committed sales currently translate into estimated 2022 Show less Read more
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