Ramaco Resources reports Q4 EPS 60c, consensus 69c

Reports Q4 revenue $202.73M, consensus $186.91M. CEO Randall Atkins commented, “Our Q4 results highlight the growth trajectory we have pursued. As we sit here today, we are essentially targeting over the coming years a doubling of the level of our 2023 production levels. This quarter’s strong performance was despite a lack of strength in market pricing over the back half of the year…Our stronger Q4 was fundamentally due to a sales increase of shipping at a 4 million ton per annum run rate during the second half of the year as compared to a 3 million ton rate in the first half. We hope to increase this tempo in sales growth as we move into 2024. In early December, we announced 2 million tons of committed sales for 2024. Since then, we have almost doubled committed sales to 3.9 million tons…As a result of this material increase in committed sales, we recently raised both our 2024 sales and production guidance. Today, we anticipate 2024 sales of 4.2-4.6 million tons and production of 4.0-4.4 million tons. This year roughly two-thirds of our anticipated sales will be exported at index-linked pricing. We expect international prices will remain relatively strong throughout 2024, given that investment in new metallurgical coal supply remains fundamentally muted. Depending on continued market conditions we hope to end 2024 with sales exceeding guidance.”