Ramaco Resources tumbles as Q4 earnings guidance misses consensus
08/12/2022 17:22
** Shares of metallurgical coal company Ramaco Resources Inc
METC.O tumble 9.8% at $9.91
** METC expects Q4 earnings to be in range of $0.50 to $0.60
per share, missing average analysts' estimate of $0.79/shr -
Refinitiv urn:newsml:reuters.com:*:nPn2YhGd9a
** Co expects Q4 adjusted EBITDA to be in range of $40 mln
to $50 mln, also missing market estimate of $58.8 mln
** Co says Q4 adjusted EBITDA estimate includes negative
impact of about $6 mln of Berwind Mine idle costs
** Co now expects Berwind no.1 mine to return to production
by April 1, 2023
** A miner suffered fatal injury at Berwind Mine in West
Virginia in February of this year urn:newsml:reuters.com:*:nPn40Tbrya
** Including session's loss, METC down 27% YTD
(Reporting by Arshreet Singh in Bengaluru)
((Arshreet.Singh@thomsonreuters.com))