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RAMACO RESOURCES REPORTS FIRST QUARTER 2025 RESULTS
LEXINGTON, Ky., May 12, 2025 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC, METCB, "Ramaco" or the "Company"), is a leading operator and developer of
About this update from Ramaco Resources, Inc.
[{"type":"text","content":"LEXINGTON, Ky., May 12, 2025 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC, METCB, \"Ramaco\" or the \"Company\"), is a leading operator and developer of high-quality, low-cost metallurgical coal in Central Appalachia and future developer of rare earth and critical minerals in Wyoming. Today it reported financial results for the three months ended March 31, 2025.\n\nFIRST QUARTER 2025 HIGHLIGHTS\nThe Company had net income of $(9.5) million and Class A diluted EPS of $(0.19) for the first quarter of 2025. The Company had adjusted earnings before interest, taxes, depreciation, amortization, certain non-operating expenses, and equity-based compensation (\"Adjusted EBITDA\", a non-GAAP measure), of $9.8 million, for the quarter ended March 31, 2025. (See \"Reconciliation of Non-GAAP Measures\" below.) Non-GAAP cash cost per ton sold was $98 in the first quarter of 2025, which was a $20 per ton decline compared to the first quarter of 2024. (See \"Reconciliation of Non-GAAP Measures\" below.) The Company's cash costs continue to remain firmly in the first quartile of the U.S. cost curve. For the first quarter of 2025, the Company's non-GAAP cash margins of $24 per ton and non-GAAP realized sales price of $122 per ton sold were both the highest such metrics among its publicly traded peer group. The Adjusted EBITDA for the Company this quarter was also higher than the met coal results of three of its four larger public peers. We hope to continue this positive trend. First quarter of 2025 production was a quarterly record, with overall production annualizing to 4.0 million tons. This occurred despite the Company missing roughly 0.1 million tons of production in January and February due to extreme freezing temperatures and severe flooding in the Central Appalachian region. In the first quarter of 2025, adverse market conditions continued from 2024 with U.S. metallurgical coal indices falling $5 per ton quarter over quarter and $65 per ton compared to the first quarter of 2024. This represented a decline of 3% on average versus the fourth quarter of 2024 and a decline of 27% on average versus the first quarter of 2024. Ramaco's Board of Directors approved and declared a quarterly cash dividend of $0.1811 per share on the Company's Class B common stock. The second quarter dividend is payable on June 13, 2025, to shareholders of rec...