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Ramaco Resources (NASDAQ:METC) +1.3% after trading Monday after saying it expects adjusted third-quarter earnings of $0.42-$0.45 per share, at the high end of the company’s guidance and well above the consensus estimate analysts’ EPS of $0.22, which would mark a ~160% increase from the prior-year quarter.
The company said it shipped 996,000 tons of coal in Q3, up 39% QoQ, and achieved its previous goal of reaching an estimated annualized sales rate of ~4 million tons this year.
For the full year, Ramaco (METC) cited stronger-than-expected third-quarter shipments and foreign customer demand in raising coal shipment guidance to 3.25 million-3.5 million tons, up from 3.1 million-3.6 million tons above; At the high end of the guidance, this would imply over 1 million tonnes shipped in Q4 and ~800k tonnes at the low end.
Ramaco (METC) said it has committed 1.1 million tons of coal to North American customers for fiscal 2024 at an average price of $169 a ton.
