Ramaco Resources, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year Ended December 31, 2023 and Production Guidance for the Year 2024
February 12, 2024 at 04:10 pm EST
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Ramaco Resources, Inc. provided earnings guidance for the fourth quarter and full year ended December 31, 2023. For the quarter, the company anticipates that net income will settle in the range of $28 - $30 million. This represents an increase from the third quarter of almost 50% on both net income.
For the year, the company anticipates that for the year ended December 31, 2023, net income will settle in the range of $80 - $82 million.
For the year 2024, The Company expects 2024 production of between 4.0 ? 4.4 million tons, up from a previous guidance of between 3.9 ? 4.4 million tons. Depending on market conditions, the Company believes that a higher level of production may be achievable.
Ramaco Resources, Inc. is a metallurgical coal company. The Company operates and develops metallurgical coal in southern West Virginia and southwestern Virginia. Its development portfolio primarily includes four properties: Elk Creek, Berwind, Knox Creek, and Maben. Its operations include six active mines at its Elk Creek mining complex, three active mines at its Berwind mining complex, two active mines at its Knox Creek mining complex, and one active mine at its Maben mining complex. The Elk Creek property consists of approximately 20,200 acres of controlled mineral rights and contains approximately 16 seams that it has targeted for production. The Berwind property consists of approximately 62,500 acres of controlled mineral rights. The Knox Creek Complex includes a preparation plant and 64,050 acres of controlled mineral rights. The Maben property is located in southern West Virginia and consists of approximately 28,000 acres of controlled mineral rights.
Ramaco Resources, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year Ended December 31, 2023 and Production Guidance for the Year 2024
RAMACO RESOURCES, INC. 
