Ramaco Resources, Inc. (METC) Misses Q1 EPS by 17c, Beats on Revenues

Ramaco Resources, Inc. (NASDAQ: METC) reported Q1 EPS of $0.13, $0.17 worse than the analyst estimate of $0.30. Revenue for the quarter came in at $55.94 million versus the consensus estimate of $52 million.

Randall Atkins, Ramaco Resources’ Executive Chairman remarked, “We are very pleased to report our first positive financial results since inception. These results reflect more than a doubling of our revenues since the prior quarter to $56 million. Today, we have forward sales commitments for more than 1.7 million tons of our planned 2018 production. As we reported previously, 1.1 million tons of domestic sales were committed and priced last year. We have sold 249 thousand tons into export markets at fixed prices averaging $109 per ton (FOB mine) and have export commitments for an additional 400 thousand tons at index prices. At current market prices, these index sales would exceed the fixed prices contracted to date. For the balance of the year, we expect to demonstrate even stronger earnings and cash flows than in the first quarter.”

For earnings history and earnings-related data on Ramaco Resources, Inc. (METC) click here.

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