Ramaco Resources, Inc. has reported its financial results for the first quarter of 2025, revealing a net income of $(9.5) million with a class A diluted EPS of $(0.19). The adjusted EBITDA for the quarter ended March 31, 2025, came in at $9.8 million.
In the first quarter of 2025, the non-GAAP cash cost per ton sold was $98, marking a $20 per ton decline compared to the first quarter of 2024. Additionally, the company's non-GAAP cash margins of $24 per ton and non-GAAP realized sales price of $122 per ton sold were reported as the highest among its publicly traded peer group.
The first quarter of 2025 saw record production, with overall production annualizing to 4.0 million tons, despite facing challenges such as extreme freezing temperatures and severe flooding in the central Appalachian region.
Looking at market conditions and the 2025 outlook, the company's total sales commitments currently stand at 3.7 million tons, with the company expecting to reduce production to limit lower priced spot sales. The company has also updated several areas of 2025 guidance, including lowering the cost per ton sold guidance and reducing capital expenditure guidance.
In terms of rare earths and critical minerals, the company has made significant progress on testing, mine, and process planning on the overall development of the rare earth element and critical mineral deposit at its Brook Mine in Wyoming. The company also announced that Michael Woloschuk will join Ramaco as executive vice president for critical minerals to oversee the company’s development of the Brook Mine and related commercialization of its rare earth and critical mineral operations.
The Board of Directors declared a quarterly cash dividend of $0.1811 per share on the company's class B common stock, payable on June 13, 2025, to shareholders of record on May 30, 2025.
Randall Atkins, Ramaco Resources’ Chairman and Chief Executive Officer, commented on the challenging market conditions in the core metallurgical coal business and the exciting developments in the emerging rare earth and critical mineral business. He highlighted the company's operational strength and sales excellence, despite the challenging weather conditions during the quarter. Atkins also expressed encouragement regarding the progress made on the rare earth element and critical mineral front at the Brook Mine in Wyoming.
Today the company's shares have moved -1.53% to a price of $8.99. Check out the company's full 8-K submission here.
