Ramaco Resources, Inc. Provides Earnings Guidance for the Third Quarter and Revised Production Guidance for the Full Year 2023
October 16, 2023 at 04:45 pm EDT
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Ramaco Resources, Inc. provided earnings guidance for the third quarter and revised production guidance for the full year 2023. For the quarter, the company expects net income will settle in the range of $18 million-$20 million.
For the full year, the Company is increasing the midpoint of coal shipment guidance to 3.25 million tons ? 3.5 million tons, up from 3.1 million tons? 3.6 million tons previously. At the high end of guidance, this implies over 1 million tons shipped in the fourth quarter and roughly 800,000 tons at the low end.
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. 
