Ramaco Resources, Inc. Provides Guidance Update On Q4 And FY23 Results; Sees Q4 EPS $0.65-$0.68 Vs $0.57 Est.; FY23 EPS $1.85-$1.88 Vs $1.81 Est.
Portfolio Pulse from Benzinga Newsdesk
Ramaco Resources, Inc. (METC) provided a positive guidance update for Q4 2023 and FY23, with anticipated EPS exceeding estimates. The company also increased its full-year 2024 guidance and announced the purchase of a prep plant for the Maben Mine Complex. Q4 2023 highlights include a net income range of $28-$30 million and Adjusted EBITDA of $56-$58 million, marking the strongest quarter of 2023. Annual highlights for 2023 include a net income range of $80-$82 million and Adjusted EBITDA of $180-$182 million, with a record 3.5 million tons sold. For 2024, Ramaco has increased its sales and production guidance, with sales commitments now at 3.8 million tons, nearly 90% above prior guidance.
February 12, 2024 | 9:36 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Ramaco Resources, Inc. (METC) provided a positive earnings update for Q4 2023 and FY23, with EPS exceeding estimates, and increased its 2024 guidance. The company also announced the acquisition of a prep plant for the Maben Mine Complex.
The positive earnings update for Q4 2023 and FY23, with EPS exceeding estimates, indicates strong operational performance and financial health, likely leading to increased investor confidence and potential stock price appreciation. The increased guidance for 2024 and the strategic acquisition of a prep plant for the Maben Mine Complex further signal growth prospects and operational expansion, reinforcing the positive outlook for METC's stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100