METC - Ramaco Resources sees Q4 earnings below consensus; board OKs dividend hike

Ramaco Resources ( NASDAQ: METC ) +1.8% in early trading Thursday after issuing guidance for Q4 earnings of $0.50-$0.60/share, well below the $1.08 analyst consensus estimate, but raising its quarterly cash dividend by 10% to $0.125/share.

Ramaco ( METC ) expects Q4 adjusted EBITDA of $40M-$50M, including ~$6M in costs related to idling the Berwind mine; adjusted EBITDA was $51M in Q3 and $32M in the year-ago quarter.

The company forecasts FY 2023 production of 3M-3.5M tons, and expects to ship near current levels in Q1 with a material increase by mid-year when the Elk Creek preparation plant processing capacity expansion becomes fully operational; the expansion will raise the complex to a 3M tons/year run rate from 2M tons/year currently.

Ramaco ( METC ) expects the Berwind No.1 mine will return to production by April 2023; ultimately the Ccmpany anticipates FY 2023 shipments will exceed production by 200K tons due to shipping inventory built during 2022.

Ramaco Resources ( METC ) recently reported "yet another disappointing quarter," The Investment Doctor writes in an analysis published on Seeking Alpha .

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