Revenue: As of FY2026 Q2, the actual value is USD 144.8 M, beating the estimate of USD 133.14 M.

EPS: As of FY2026 Q2, the actual value is USD -0.26.

EBIT: As of FY2026 Q2, the actual value is USD -18.06 M.

Ramaco Resources, Inc. issued an Earnings Release for its financial and operating results for the second quarter of 2026, attached as Exhibit 99.1 to a Form 8-K.

Net Income/Loss

Ramaco Resources, Inc. reported a quarterly net loss of - $15.4 million for the second quarter of 2026, marking a 10% decrease compared to the - $14.0 million net loss in the second quarter of 2025. The net loss for the six months ended June 30, 2026, was - $33.7 million, which is a 44% increase from - $23.4 million in the same period of 2025.

Adjusted EBITDA

Quarterly Adjusted EBITDA was $5.7 million, a 37% decrease from $9.0 million in the second quarter of 2025. For the six months ended June 30, 2026, Adjusted EBITDA was $3.9 million, down 79% from $18.8 million in the prior year period.

Liquidity

Ramaco Resources, Inc. ended the second quarter of 2026 with liquidity of $400.1 million, representing an increase of nearly 360% year-over-year. This liquidity included approximately $282.5 million of cash and $117.6 million of borrowing availability under its revolving credit facility, with zero borrowings.

Capital Expenditures

Quarterly capital expenditures totaled $27.4 million, an 81% increase compared to $15.1 million in the second quarter of 2025. Year-to-date capital expenditures were $44.5 million, up 25% from $35.5 million in the first six months of 2025.

Operational Costs and Margins

The non-GAAP cash mine cost per ton sold was $99 in the second quarter of 2026, which was $4 lower than the second quarter of 2025, marking the fourth consecutive quarter with cash costs below $100 per ton. Resultant non-GAAP cash margins were $17 per ton during the second quarter, down 15% from $20 per ton in the same period of 2025. The average cash cost of coal sold for the six months ended June 30, 2026, was $98 per ton, compared to $101 per ton in the prior year period.

Operating Loss

Operating loss for the second quarter of 2026 was - $18.2 million, compared to - $13.8 million in the second quarter of 2025.

Income Tax Benefit

The company recognized an income tax benefit of $4.2 million in the second quarter of 2026.

Cash Flow

Net cash used in operating activities for the six months ended June 30, 2026, was - $22.4 million, compared to net cash from operating activities of $21.8 million in the same period of 2025. Net cash used in investing activities was - $44.4 million for the six months ended June 30, 2026, compared to - $36.4 million in the prior year period. Net cash used in financing activities was - $91.0 million for the six months ended June 30, 2026, compared to net cash from financing activities of $9.7 million in the same period of 2025.

Share Repurchases

During the second quarter of 2026, Ramaco Resources, Inc. repurchased 3.5 million Class A common shares for approximately $51 million at an average price of $14.41 per share. Year-to-date, the company repurchased nearly 4.6 million Class A common shares, representing over 8% of outstanding shares, for almost $66 million at an average price of $14.44.

Dividend Declaration

Ramaco Resources, Inc.’s board of directors approved and declared a stock dividend of $0.1535 per share of Class B common stock, payable on September 25, 2026, to shareholders of record as of September 11, 2026. Fractional shares will be paid in cash based on the closing transaction price of the Class B common stock on the Record Date.

Operational Metrics

Total tons sold in the second quarter of 2026 were 1,056 thousand tons, a 2% decrease compared to 1,079 thousand tons in the second quarter of 2025. Total tons produced were 931 thousand tons, a 7% decrease from 999 thousand tons in the second quarter of 2025. For the six months ended June 30, 2026, total tons sold were 1,948 thousand tons, and total tons produced were 1,883 thousand tons.

Outlook / Guidance

Ramaco Resources, Inc. updated its full-year 2026 production guidance to 3.6 – 3.9 million tons and reduced its full-year 2026 sales guidance to 4.0 – 4.3 million tons. The company maintained the midpoint of its full-year 2026 cash cost per ton sold guidance at $96 - $99 per ton but increased full-year 2026 capital expenditures to $92 - $97 million. For its Brook Mine critical mineral project, internal modeling suggests a potential net present value of $8 billion and average annual adjusted EBITDA of $1.3 billion, with initial production estimated for 2031.