RAMACO RESOURCES REPORTS FIRST QUARTER 2024 RESULTS
Ramaco Resources, Inc. - Class B (METCB)
Company Research
Source: PR Newswire
LEXINGTON, Ky., May 8, 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 reported financial results for the three months ended March 31, 2024.FIRST QUARTER 2024 HIGHLIGHTSFor the three months ended March 31, 2024, the Company had adjusted earnings before interest, taxes, depreciation, amortization, certain non-operating expenses, and equity-based compensation ("Adjusted EBITDA", a non-GAAP measure), of $24.2 million, compared to $58.5 million in the fourth quarter of 2023. (See "Reconciliations of Non-GAAP Measure" below.)For the three months ended March 31, 2024, the Company had net income of $2.0 million, compared to $30.0 million in the fourth quarter of 2023. Class A EPS was $0.00 for the three months ended March 31, 2024, compared to $0.60 for the three months ended December 31, 2023. First quarter of 2024 results were negatively impacted by a combinati
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