Ramaco Resources Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags
Ramaco Resources (NASDAQ:METC) Full Year 2023 Results
Key Financial Results
Revenue: US$693.5m (up 23% from FY 2022).
Net income: US$82.3m (down 29% from FY 2022).
Profit margin: 12% (down from 21% in FY 2022). The decrease in margin was driven by higher expenses.
EPS: US$1.56 (down from US$2.63 in FY 2022).
METC Production and Reserves
Coal
Production: 2.879 Mt (2.435 Mt in FY 2022)
Number of mines: 2 (2 in FY 2022)
All figures shown in the chart above are for the trailing 12 month (TTM) period
Ramaco Resources Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 8.6%.
In the last 12 months, the only revenue segment was Metals & Mining - Coal contributing US$693.5m. Notably, cost of sales worth US$493.8m amounted to 71% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$54.3m (46% of total expenses). Explore how METC's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Metals and Mining industry in the US.
Performance of the American Metals and Mining industry.
The company's shares are up 15% from a week ago.
Risk Analysis
You should learn about the 4 warning signs we've spotted with Ramaco Resources (including 1 which is a bit concerning).
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