Yesterday, Ramaco Resources provided an update on several operational and financial matters. The company sees Q3 net income $18M-$20M. Adjusted EBITDA will settle in the $43M-$45M range for the three months ended September 30, 2023. At the high end of guidance, this represents an increase from the second quarter of roughly 160% on net income and earnings per share and 50% on Adjusted EBITDA. During the third quarter, the Company shipped 996,000 tons of coal, which achieves its previous guidance of reaching a ratable annualized sales run-rate of roughly 4 million tons this year. Overall tons sold increased 39% from the second quarter. Shares of Ramaco Resources closed Tuesday up 28.8% to $12.56.
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Read More on METC:
- RAMACO RESOURCES PROVIDES UPDATE ON THIRD QUARTER 2023 RESULTS, FULL-YEAR 2023 GUIDANCE, DECLARATION OF FOURTH QUARTER DIVIDENDS, INCREASE IN TRACKING STOCK DIVIDEND AND UPDATE ON RARE EARTH ELEMENT DEVELOPMENT
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