$METC
Ramaco Resources, Inc.

2024 Q3 Form 10-Q Financial Statement

#000155837024015069 Filed on November 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $167.4M
YoY Change -10.46%
Cost Of Revenue $134.7M
YoY Change -6.85%
Gross Profit $32.68M
YoY Change -22.8%
Gross Profit Margin 19.52%
Selling, General & Admin $12.92M
YoY Change 12.77%
% of Gross Profit 39.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.81M
YoY Change 23.32%
% of Gross Profit 54.5%
Operating Expenses $31.09M
YoY Change 171.3%
Operating Profit $1.594M
YoY Change -90.09%
Interest Expense -$1.696M
YoY Change -30.69%
% of Operating Profit -106.4%
Other Income/Expense, Net -$76.00K
YoY Change -100.67%
Pretax Income -$178.0K
YoY Change -100.71%
Income Tax $61.00K
% Of Pretax Income
Net Earnings -$239.0K
YoY Change -101.23%
Net Earnings / Revenue -0.14%
Basic Earnings Per Share -$0.03
Diluted Earnings Per Share -$0.03
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.86M
YoY Change -46.7%
Cash & Equivalents $22.86M
Short-Term Investments
Other Short-Term Assets $7.853M
YoY Change -36.67%
Inventory $53.05M
Prepaid Expenses $7.853M
Receivables $62.91M
Other Receivables $0.00
Total Short-Term Assets $146.7M
YoY Change -13.33%
LONG-TERM ASSETS
Property, Plant & Equipment $476.7M
YoY Change 4.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.076M
YoY Change 53.24%
Total Long-Term Assets $498.7M
YoY Change 4.45%
TOTAL ASSETS
Total Short-Term Assets $146.7M
Total Long-Term Assets $498.7M
Total Assets $645.4M
YoY Change -0.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $53.78M
YoY Change 4.26%
Accrued Expenses $48.38M
YoY Change 4.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $383.0K
YoY Change -98.63%
Total Short-Term Liabilities $108.8M
YoY Change -23.66%
LONG-TERM LIABILITIES
Long-Term Debt $43.14M
YoY Change 26.3%
Other Long-Term Liabilities $5.414M
YoY Change 25.27%
Total Long-Term Liabilities $48.56M
YoY Change 26.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $108.8M
Total Long-Term Liabilities $48.56M
Total Liabilities $283.6M
YoY Change -3.58%
SHAREHOLDERS EQUITY
Retained Earnings $80.22M
YoY Change 5.36%
Common Stock $281.1M
YoY Change 1.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $361.8M
YoY Change
Total Liabilities & Shareholders Equity $645.4M
YoY Change -0.2%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income -$239.0K
YoY Change -101.23%
Depreciation, Depletion And Amortization $17.81M
YoY Change 23.32%
Cash From Operating Activities $37.38M
YoY Change -46.52%
INVESTING ACTIVITIES
Capital Expenditures $17.79M
YoY Change 5.24%
Acquisitions
YoY Change
Other Investing Activities -$334.0K
YoY Change -111.13%
Cash From Investing Activities -$18.12M
YoY Change 29.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -23.97M
YoY Change -48.89%
NET CHANGE
Cash From Operating Activities 37.38M
Cash From Investing Activities -18.12M
Cash From Financing Activities -23.97M
Net Change In Cash -4.707M
YoY Change -152.3%
FREE CASH FLOW
Cash From Operating Activities $37.38M
Capital Expenditures $17.79M
Free Cash Flow $19.60M
YoY Change -63.03%

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metc Repayments Of Financed Insurance Payable
RepaymentsOfFinancedInsurancePayable
4032000
metc Repayments Of Financed Insurance Payable
RepaymentsOfFinancedInsurancePayable
3848000
metc Repayments Of Financing Leased Equipment
RepaymentsOfFinancingLeasedEquipment
6740000
metc Repayments Of Financing Leased Equipment
RepaymentsOfFinancingLeasedEquipment
4954000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9846000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5323000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-57979000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-54399000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-19098000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
7311000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42781000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36473000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23683000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43784000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
9187000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
6144000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4584000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
10910000
metc Financed Insurance
FinancedInsurance
407000
CY2024Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
735000
CY2023Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
733000
CY2024Q3 metc Raw Coal
RawCoal
15196000
CY2023Q4 metc Raw Coal
RawCoal
20122000
CY2024Q3 metc Saleable Coal
SaleableCoal
32249000
CY2023Q4 metc Saleable Coal
SaleableCoal
12013000
CY2024Q3 metc Coal Supplies
CoalSupplies
5606000
CY2023Q4 metc Coal Supplies
CoalSupplies
5028000
CY2024Q3 us-gaap Inventory Net
InventoryNet
53051000
CY2023Q4 us-gaap Inventory Net
InventoryNet
37163000
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
184290000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
139745000
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
476748000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
459091000
CY2024Q3 metc Capitalized Costs Related To Coal Reserves
CapitalizedCostsRelatedToCoalReserves
1600000
CY2024Q3 us-gaap Depreciation
Depreciation
9519000
CY2023Q3 us-gaap Depreciation
Depreciation
8063000
us-gaap Depreciation
Depreciation
27408000
us-gaap Depreciation
Depreciation
22492000
CY2024Q3 us-gaap Operating Leases Income Statement Depreciation Expense On Property Subject To Or Held For Lease
OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease
2648000
CY2023Q3 us-gaap Operating Leases Income Statement Depreciation Expense On Property Subject To Or Held For Lease
OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease
2432000
us-gaap Operating Leases Income Statement Depreciation Expense On Property Subject To Or Held For Lease
OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease
8025000
us-gaap Operating Leases Income Statement Depreciation Expense On Property Subject To Or Held For Lease
OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease
6312000
CY2024Q3 us-gaap Adjustment For Amortization
AdjustmentForAmortization
5644000
CY2023Q3 us-gaap Adjustment For Amortization
AdjustmentForAmortization
3948000
us-gaap Adjustment For Amortization
AdjustmentForAmortization
13476000
us-gaap Adjustment For Amortization
AdjustmentForAmortization
11046000
CY2024Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
17811000
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
14443000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
48909000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
39850000
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
77170000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
90179000
CY2024Q3 metc Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
383000
CY2023Q4 metc Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
56534000
CY2024Q3 metc Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
76787000
CY2023Q4 metc Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
33645000
metc Average Additional Daily Cash Balance To Be Maintained
AverageAdditionalDailyCashBalanceToBeMaintained
1000000.0
CY2024Q3 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
19000000.0
CY2023Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
14600000
CY2024Q3 metc Uninsured Claims
UninsuredClaims
5300000
CY2023Q4 metc Uninsured Claims
UninsuredClaims
5200000
CY2024Q3 us-gaap Restricted Cash
RestrictedCash
800000
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
800000
CY2022Q2 metc Royalty Fee Income Percent
RoyaltyFeeIncomePercent
0.03
CY2022Q2 metc Infrastructure Fees Income Coal Preparation Plant Price Per Ton
InfrastructureFeesIncomeCoalPreparationPlantPricePerTon
5.00
CY2022Q2 metc Infrastructure Fees Income Coal Rail Load Out Price Per Ton
InfrastructureFeesIncomeCoalRailLoadOutPricePerTon
2.50
CY2023Q2 metc Common Stock Class Exchange Ratio Calculation Threshold Trading Days Volume Weighted Average Price
CommonStockClassExchangeRatioCalculationThresholdTradingDaysVolumeWeightedAveragePrice
20
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4000000.0
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3200000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13300000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9700000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
1200000
CY2024Q1 metc Share Based Compensation Arrangement By Share Based Payment Award Incremental Value From Equity Vesting Provision
ShareBasedCompensationArrangementByShareBasedPaymentAwardIncrementalValueFromEquityVestingProvision
1800000
CY2024Q1 metc Reversal Of Previously Recognized Stock Based Compensation Expense
ReversalOfPreviouslyRecognizedStockBasedCompensationExpense
600000
CY2024Q1 metc Reversal Of Previously Recognized Stock Based Compensation Expense Relating To Pre Modified Awards
ReversalOfPreviouslyRecognizedStockBasedCompensationExpenseRelatingToPreModifiedAwards
300000
CY2024Q1 metc Reversal Of Previously Recognized Stock Based Compensation Expense Relating To Forfeiture Of Awards
ReversalOfPreviouslyRecognizedStockBasedCompensationExpenseRelatingToForfeitureOfAwards
300000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
24500000
metc Forfeitable Dividend
ForfeitableDividend
700000
CY2022Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.125
CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
5500000
CY2023Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
5600000
CY2023Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5600000
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.125
us-gaap Dividends
Dividends
18000000.0
CY2024Q3 us-gaap Royalty Expense
RoyaltyExpense
6400000
CY2023Q3 us-gaap Royalty Expense
RoyaltyExpense
9000000.0
us-gaap Royalty Expense
RoyaltyExpense
19500000
us-gaap Royalty Expense
RoyaltyExpense
25000000.0
CY2024Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
200000
CY2023Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
800000
CY2018Q4 metc Partial Structure Failure Number Of Raw Coal Storage Silos
PartialStructureFailureNumberOfRawCoalStorageSilos
1
CY2018Q4 metc Number Of Raw Coal Storage Silos
NumberOfRawCoalStorageSilos
3
CY2018Q4 metc Percent Of Plant Capacity Restored After Partial Structural Failure
PercentOfPlantCapacityRestoredAfterPartialStructuralFailure
0.80
CY2021Q3 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
7700000
CY2021Q3 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
25000000.0
CY2022Q1 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
1800000
CY2023Q3 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
7700000
CY2023Q3 us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
25000000
CY2024Q3 metc Accrued Loss Recovery Asset
AccruedLossRecoveryAsset
3100000
metc Revenue Contract Term
RevenueContractTerm
P1Y
CY2024Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
167411000
CY2023Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
186966000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
495403000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
490795000
CY2024Q3 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
400000
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
1300000
metc Percentage Of Committed Tons
PercentageOfCommittedTons
0.36
metc Percentage Of Committed Tons
PercentageOfCommittedTons
0.63
metc Percentage Of Committed Tons
PercentageOfCommittedTons
0.01
CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.093
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.220
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.280
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.205
CY2024Q3 metc Discrete Items Recognized
DiscreteItemsRecognized
1000000.0
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Net Income Loss
NetIncomeLoss
31382000
CY2024Q3 metc Forfeitable Dividends Declared On Unvested Stock Based Awards Monetary
ForfeitableDividendsDeclaredOnUnvestedStockBasedAwardsMonetary
438000
metc Forfeitable Dividends Declared On Unvested Stock Based Awards Monetary
ForfeitableDividendsDeclaredOnUnvestedStockBasedAwardsMonetary
736000
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-239000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
19462000
us-gaap Net Income Loss
NetIncomeLoss
7334000
us-gaap Net Income Loss
NetIncomeLoss
52275000
us-gaap Net Income Loss
NetIncomeLoss
31382000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44344
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44752
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.71
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.70
metc Share Of Dividends For Unvested Restricted Stock Awards With Common Shares
ShareOfDividendsForUnvestedRestrictedStockAwardsWithCommonShares
1
CY2024Q3 metc Number Of Related Paties
NumberOfRelatedPaties
5
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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