RAMACO RESOURCES Reports Earnings Results for FY2023 Q2 as of June 30 2023
August 21, 2023
🌥️Earnings Overview
On August 8 2023, RAMACO RESOURCES ($NASDAQ:METC) released their financial report for the second quarter of Fiscal Year 2023, which ended on June 30 2023. The total revenue dropped by 0.9% compared to the same period of last year and amounted to USD 137.5 million. Net income was USD 7.6 million, a significant decrease of 77.3% compared to the same quarter of the previous year.
Share Price
On Tuesday, RAMACO RESOURCES Inc. reported its financial results for the second quarter of FY2023, ending June 30, 2023. The company’s stock opened at $9.1 and closed at $9.3, a 0.3% increase from the previous closing price of $9.2. This was a positive sign for the company’s overall financial performance in the quarter. This was due to strong demand for the company’s products and services, as well as effective cost management strategies.
Overall, RAMACO RESOURCES Inc. put out solid numbers in the second quarter of FY2023. The company’s stock price has been steadily increasing since the beginning of the year, indicating that investors are optimistic about the company’s long-term prospects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ramaco Resources. More…
| Total Revenues | Net Income | Net Margin |
| 575.98 | 74.1 | 12.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ramaco Resources. More…
| Operations | Investing | Financing |
| 128.15 | -126 | -12.15 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ramaco Resources. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 660.39 | 323.29 | 6.27 |
Key Ratios Snapshot
Some of the financial key ratios for Ramaco Resources are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 45.9% | 164.3% | 17.4% |
| FCF Margin | ROE | ROA |
| 1.9% | 18.6% | 9.5% |
Analysis
GoodWhale conducted an analysis of RAMACO RESOURCES‘s fundamentals. Using the Star Chart, we determined that RAMACO RESOURCES has an intermediate health score of 6/10 with regard to its cashflows and debt, indicating that it might be able to pay off debt and fund future operations. RAMACO RESOURCES is strong in growth, and medium in asset, dividend, and profitability. We classified RAMACO RESOURCES as a ‘gorilla’, a type of company that we conclude has achieved stable and high revenue or earning growth due to its strong competitive advantage. Investors interested in such a compelling company may include value investors, who are drawn to the strong growth prospects and low debt, and growth investors, who may look for companies with a strong competitive advantage like RAMACO RESOURCES. More…
Peers
The company’s competitors include Alpha Metallurgical Resources Inc, Corsa Coal Corp, and Bowen Coking Coal Ltd.
– Alpha Metallurgical Resources Inc ($NYSE:AMR)
Metallurgical Resources Inc is a Canadian company that operates in the mining industry. The company has a market capitalization of $3.09 billion as of 2022 and a return on equity of 82.18%. The company’s primary business is the development and extraction of metals and minerals. The company’s products include copper, gold, silver, and zinc. The company has operations in Canada, the United States, Mexico, and Peru.
– Corsa Coal Corp ($TSXV:CSO)
Corsa Coal Corp is a coal mining company with a market cap of 25.82M as of 2022. The company has a Return on Equity of 1.34%. Corsa Coal Corp produces and exports metallurgical and thermal coal. The company operates mines in Pennsylvania and West Virginia. Corsa Coal Corp was founded in 2004 and is headquartered in Canonsburg, Pennsylvania.
– Bowen Coking Coal Ltd ($ASX:BCB)
Bowen Coking Coal Ltd is an Australian company that produces and exports coking coal. The company has a market capitalization of $522.31 million as of 2022 and a return on equity of -17.6%. Bowen Coking Coal is one of the largest coking coal producers in Australia and exports its coal to customers in Asia, Europe, and North America.
Summary
RAMACO RESOURCES has reported a drop in both revenue and net income for Q2 of FY2023. Revenue was USD 137.5 million, representing a decrease of 0.9% year over year, while net income was USD 7.6 million, down 77.3%. This could be viewed as a concerning sign for investors, indicating declining performance. Investors should be aware of the potential risks associated with investing in RAMACO RESOURCES and should evaluate any potential investments carefully.
Additionally, it may be wise to look into the company’s financials and operations to gain a better understanding of its overall financial health.
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