Yahoo Finance

• Record Tons Sold: Achieved record tons sold in Q4 2024.

• Cash Cost: Exited the year with cash cost well under $100 per ton.

• Liquidity: Ended the year with record liquidity of approximately $140 million.

• Margins: Q4 margins remained at $33 per ton, despite a $30 drop in met coal prices.

• Adjusted EBITDA: Q4 2024 adjusted EBITDA was $29 million, up from $24 million in Q3.

• Net Income: Q4 net income of $4 million compared to breakeven in Q3.

• Class A EPS: $0.06 gain in Q4 versus a $0.03 loss in Q3.

• Tons Sold: Exited the year at a 4.5 million ton per annum run rate.

• Liquidity at Year-End: $138 million, up more than 50% year-on-year.

• Net Debt to Adjusted EBITDA: 0.5 times on a trailing 12-month basis.

• 2025 Sales Commitment: 3.5 million tons committed for sale, with 1.6 million tons to North American customers at $152 per ton and 1.9 million tons to the seaborne market.

• Warning! GuruFocus has detected 4 Warning Signs with DOUG.

Release Date: March 11, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Ramaco Resources Inc (NASDAQ:METC) achieved record tons sold in Q4 2024, marking the strongest quarter of the year both financially and operationally.

• The company maintained cash costs well under $100 per ton, contributing to strong cash margins of $33 per ton despite a $30 drop in met coal prices.

• Ramaco Resources Inc (NASDAQ:METC) ended the year with record levels of liquidity, approximately $140 million, providing a strong financial position.

• The company is advancing its rare earth and critical minerals project in Wyoming, with plans to begin full-scale mining in July and construct a pilot processing facility in the fall.

• Ramaco Resources Inc (NASDAQ:METC) has a strategic plan to increase future production by adding 2 million tons of low-vol production, positioning itself for growth when market conditions improve.

Negative Points

• The met coal market faced continued pricing headwinds, with a year-long negative pricing environment impacting financial performance.

• Global steel demand remains weak, with Chinese steel exports pressuring global steel mill profits and affecting met coal prices.

• The company experienced operational challenges due to extreme weather events in Q1 2025, including freezing temperatures and historic flooding, impacting costs and production.

• There is uncertainty in the market, leading to a cautious approach in committing new capital to growth projects until pricing stabilizes.

• The rare earth project faces delays due to backlog in receiving third-party chemistry and metallurgic test results, impacting the timeline for economic and CapEx estimates.