<span item_type="fundamental" item_id="c57046483619424e66459bf79f4f2ba1" counter_id="ST/US/METC" env="prod"></span><span item_type="announcement" item_id="647287031374743553" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 121.61 M, missing the estimate of USD 131.02 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD -0.3.</p><p>EBIT: As of FY2026 Q1, the actual value is USD -23.82 M.</p><p></p><p>Ramaco Resources, Inc. reported its financial and operating results for the first quarter of 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511x8k.htm"></span>.</p><h4>Revenue</h4><p>Total revenue for the first quarter of 2026 was $121.6 million, a decrease from $134.7 million in the first quarter of 2025 and $128.0 million in the fourth quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Net Loss</h4><p>Ramaco Resources, Inc. reported a net loss of - $18.3 million for the first quarter of 2026, compared to a net loss of - $9.5 million in the first quarter of 2025 and - $14.7 million in the fourth quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Adjusted EBITDA</h4><p>Adjusted EBITDA was - $1.8 million for the first quarter of 2026, a decrease from $9.8 million in the first quarter of 2025 and $8.9 million in the fourth quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Operating Loss</h4><p>Ramaco Resources, Inc. reported an operating loss of - $24,305 thousand in the first quarter of 2026, compared to an operating loss of - $12,022 thousand in the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Cost of Sales</h4><p>Cost of sales for the first quarter of 2026 was $108.5 million, compared to $114.1 million in the first quarter of 2025 and $103.2 million in the fourth quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Liquidity</h4><p>As of March 31, 2026, liquidity stood at $488.8 million, including $355.2 million in cash and $133.6 million in borrowing availability, representing a 313% increase year-over-year compared to $118.4 million in the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>. Liquidity was $521.0 million as of December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Capital Expenditures</h4><p>Cash capital expenditures totaled $17.1 million in the first quarter of 2026, a decrease of 16% from $20.3 million in the first quarter of 2025, but an increase from $12.2 million in the fourth quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Cash Flow from Operating Activities</h4><p>Net cash used in operating activities was - $34,604 thousand for the first quarter of 2026, compared to net cash from operating activities of $26,039 thousand in the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Cash Flow from Investing Activities</h4><p>Net cash used in investing activities was - $17,017 thousand for the first quarter of 2026, compared to - $22,256 thousand in the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Cash Flow from Financing Activities</h4><p>Net cash used in financing activities was - $33,522 thousand for the first quarter of 2026, compared to net cash from financing activities of $6,674 thousand in the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Stock Dividend</h4><p>On May 11, 2026, Ramaco Resources, Inc.’s board of directors approved a stock dividend of $0.1369 per share of Class B common stock, payable on June 26, 2026, to shareholders of record as of June 12, 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511x8k.htm"></span>.</p><h4>Non-GAAP Cash Mine Cost per Ton Sold</h4><p>The non-GAAP cash mine cost per ton sold was $98 in the first quarter of 2026, consistent with the first quarter of 2025, but up from $92 in the fourth quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Non-GAAP Cash Margins per Ton</h4><p>Cash margins per ton were $16 in the first quarter of 2026, declining from $24 per ton in both the first quarter of 2025 and the fourth quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Total Tons Sold</h4><p>Total tons sold were 892 thousand in the first quarter of 2026, down from 946 thousand tons in the first quarter of 2025 and 938 thousand tons in the fourth quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Total Tons Produced</h4><p>Total tons produced were 951 thousand in the first quarter of 2026, down 4% from 989 thousand tons in the first quarter of 2025, but up 7% from 892 thousand tons in the fourth quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Non-GAAP Revenue per Ton Sold (FOB mine)</h4><p>Non-GAAP revenue per ton sold (FOB mine) was $114 in the first quarter of 2026, down from $122 in the first quarter of 2025 and $116 in the fourth quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p><h4>Outlook / Guidance</h4><p>Ramaco Resources, Inc. reiterates its full-year 2026 operational guidance, anticipating coal shipments of 900,000 – 1,000,000 tons for the second quarter of 2026 with cash costs at the higher end of the full-year range <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>. For the full year 2026, the company projects total production between 3,700 and 4,100 thousand tons and sales between 4,100 and 4,500 thousand tons, with cash costs per ton sold expected to be between $95 and $100 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>. Capital expenditures are guided to be $85,000 - $90,000 thousand, and selling, general, and administrative expenses are projected between $67,000 - $72,000 thousand <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1687187/000110465926058633/metc-20260511xex99d1.htm"></span>.</p>

Ramaco - CL | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 121.61 M