Ramaco Resources, Inc. (METC) Form 10-Q — Nov 3, 2026
Ramaco Resources reported Q3 2026 revenue of $150.1 million, up 24% year over year on 23.3% higher tons sold, but the net loss widened to $18.2 million from $13.3 million a year earlier as soft metallurgical coal pricing pressured margins. Adjusted EBITDA fell to $3.0 million from $8.4 million. Cash declined to $233.0 million from $440.3 million at year-end 2025, driven by $80.2 million of capital expenditures and $65.9 million of share buybacks (4.56 million shares at an average $14.46), with operating cash flow negative at $34.4 million for the nine months. The company repurchased no shares in Q3.
Key figures
- Eps
- -$0.32 Class A diluted (Q3 2026)
- Revenue
- 150089000
- Guidance
- Full-year 2026 production volumes expected between 3.6 and 3.8 million tons
- Total Debt
- 453556000
- Revenue Yoy
- 24.0%
- Total Assets
- 1006036000
- Cash Position
- 232954000
- Shares Outstanding
- 51,875,261 Class A; 11,807,892 Class B
- Capex 9m 2026
- 80175000
- Revenue 9m 2025
- 408611000
- Revenue 9m 2026
- 416501000
- Buyback avg price
- 14.46
- Buyback shares 9m 2026
- 4558404
- Adjusted ebitda 9m 2025
- 27160000
- Adjusted ebitda 9m 2026
- 6917000
- Adjusted ebitda q3 2025
- 8367000
- Adjusted ebitda q3 2026
- 3006000
- Fixed price contracted tons
- 2.1 million tons at avg $139/ton
- Brook mine additional planned spend
- $25.0 million
AI analysis
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