Ramaco Resources posts $18.2 million Q3 net loss, raises cost and capex guidance
Ramaco reported a third-quarter net loss of $18.2 million, or $(0.32) per Class A diluted share, on revenue of $150.1 million, up 24% from a year earlier. The company cut its 2026 production guidance and raised its cash cost and capital expenditure guidance, citing higher diesel and steel prices, though management expects stronger fourth-quarter margins at current spot prices.
Key points
- Q3 net loss of $18.2 million and Class A diluted EPS of $(0.32), compared with a net loss of $13.3 million and $(0.25) a year earlier.
- Revenue of $150.1 million, up 4% from Q2 2026 and 24% from Q3 2025; cash margin of $16 per ton, down from $23 per ton a year earlier.
- 2026 production guidance cut to 3.5–3.6 million tons from 3.6–3.9 million; cash cost guidance raised to $101–$103 per ton; capex guidance raised to $97–$102 million.
- Liquidity of $374.7 million at September 30, 2026; quarterly Class B dividend of $0.0742 per share payable December 18, 2026.
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 03, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.