Ramaco Resources, Inc. Provides Guidance Update on Fourth Quarter and Full Year 2023 Results
Ramaco Resources, Inc. - Class B (METCB)
Company Research
Source: PR Newswire
Increases Full-Year 2024 Guidance Announces Purchase of Prep Plant for Maben Mine Complex LEXINGTON, Ky., Feb. 12, 2024 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC, METCB, "Ramaco" or the "Company"), a leading operator and developer of high-quality, low-cost metallurgical coal, today provided an update on several operational and financial matters.FOURTH QUARTER 2023 HIGHLIGHTSThe Company anticipates that net income will settle in the range of $28 - $30 million (Adjusted EPS $0.65- $0.68, a non-GAAP measure) and Adjusted EBITDA will settle in the $56 - $58 million range for the three months ended December 31, 2023. This represents an increase from the third quarter of almost 50% on both net income and Adjusted EPS. Adjusted EBITDA is projected to increase over 25%. Fourth quarter 2023 results are anticipated to be the strongest of any quarter in 2023. See reconciliation of non-GAAP financial measures.The Company shipped just under 1 million tons of coal for the second straight
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