Ramaco Resources, Inc. (NASDAQ:METC) Q2 2022 Earnings Conference Call August 9, 2022 9:00 AM ET

Company Participants

Jeremy Sussman - CFO

Randy Atkins - Chairman and CEO

Chris Blanchard - COO

Jason Fannin - Chief Commercial Officer

Conference Call Participants

Lucas Pipes - B. Riley Securities

David Gagliano - BMO Capital Markets

Nathan Martin - The Benchmark Company

Operator

Good day, and welcome to the Ramaco Resources 2Q 2022 Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Jeremy Sussman, CFO. Please go ahead.

Jeremy Sussman

Thank you. On behalf of Ramaco Resources, I'd like to welcome all of you to our second quarter 2022 earnings conference call. With me this morning is Randy Atkins, our Chairman and CEO; Chris Blanchard, our Chief Operating Officer; and Jason Fannin, our Chief Commercial Officer.

Before we start, I'd like to share our normal cautionary statement. Certain items discussed on today's call constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Ramaco's expectations concerning future events. These statements are subject to risks, uncertainties and other factors, many of which are outside of Ramaco's control, which could cause actual results to differ materially from results discussed in the forward-looking statements. Any forward-looking statements speaks only as of the date on which it is made and except as required by law, Ramaco does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

I'd also like to remind you that you can find a reconciliation of the non-GAAP financial measures that we plan to discuss today in our press release. Lastly, I'd encourage everyone on this call to go onto our website ramacoresources.com and download today's investor presentation under the events calendar.

With that said, let me introduce our Chairman and CEO, Randy Atkins.

Randy Atkins

Thanks, Jeremy, and good morning to all.

When we telegraphed our first half results in May, we expected to ramp to a significantly stronger second half. That's still the case, despite our recent and we hope temporary closing of one of the three Berwind mines.

Based on the $121 million first half EBITDA print, 2022 safely looks to be a record year for us on about every metric by several multiples. We now only have about 200,000 tons left to sell for this year. Against sales to date, we have effectively generated earnings that currently guide to about $340 million of 2022 mine level EBITDA. As you know, the 2023 domestic sales season is already now upon us, with an extra twist this year.