Ramaco Resources Q1 revenue misses estimates as metallurgical coal pricing declined

Ramaco Resources

11/05/2026 21:22

Overview

U.S. metallurgical coal miner's Q1 revenue fell and missed analyst expectations

Q1 adjusted EBITDA was negative and missed analyst expectations

Company repurchased nearly 5% of Class A shares during Q1

Outlook

Company reiterates full-year 2026 guidance for production, sales, and cash costs

Ramaco expects Q2 2026 coal shipments of 900,000–1,000,000 tons, with higher cash costs due to fuel prices

Company anticipates upward movement in U.S. coal pricing in H2 2026 due to supply contraction

Result Drivers

WEAK MET COAL PRICING - Co said a 12% year-on-year decline in U.S. high-vol metallurgical coal indices drove lower realized pricing and cash margins

HIGHER OPERATING COSTS - Increased diesel prices and freight rates, partly due to the Iranian conflict, raised cash costs and reduced netback on export sales

PRODUCTION DISCIPLINE - Co idled higher-cost mines in response to weak market conditions, leading to lower production at some complexes

Company press release: ID:nPn6gdfZPa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$121.6 mln
$126.67 mln (6 Analysts)
Q1 EPS
-$0.3
Q1 Net Income
-$18.3 mln
Q1 Adjusted EBITDA
Miss
-$1.8 mln
$8.21 mln (8 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the iron & steel peer group is "buy"

Wall Street's median 12-month price target for Ramaco Resources Inc is $30.00, about 102.6% above its May 8 closing price of $14.81

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)