Latest news with #METC
Yahoo
26-05-2025
- General
- Yahoo
Low-flying helicopters over Michigan? Here's what's going on
ITC will conduct aerial patrols of transmission lines in Michigan starting Tuesday, May 27. According to a community announcement, the inspections will run through Monday, June 30, weather permitting. The helicopter patrols aim to assess the status of high-voltage transmission structures operated by ITCTransmission and Michigan Electric Transmission Company, LLC (METC). The aerial inspections will cover nearly all of the Lower Peninsula. The schedule for the inspections is as follows: From May 27-30, areas including Livingston, Macomb, Monroe, Oakland, Washtenaw, and Wayne will be inspected. From June 2-11, the patrols will extend to counties such as Bay, Genesee, Gratiot, Huron, Ingham, and others. The next phase from June 12-17 will include Allegan, Barry, Branch, Calhoun, and several more counties, including Monroe again. The next inspection period from June 18-21 will cover counties including Allegan, Clinton, and Kent. The last leg from June 24-30 will include Alcona, Alpena, and others. These patrols are required by the North American Electrical Reliability Corporation as part of ITC's vegetation management program. They support proactive maintenance objectives and align with the company's operational standards. Crews will check for damaged or worn equipment and vegetation hazards during these flights, which will be conducted at low altitudes for accurate visual inspections. Residents should not be alarmed if they see low-flying helicopters near transmission lines, as this is standard procedure. Monroe News is bringing you more local news: Here's how you can submit your announcements This story was created by Janis Reeser, jreeser@ with the assistance of Artificial Intelligence (AI). Journalists were involved in every step of the information gathering, review, editing and publishing process. Learn more at or share your thoughts at with our News Automation and AI team. This article originally appeared on The Monroe News: Helicopters will fly low across Michigan for power line checks
Yahoo
13-05-2025
- Business
- Yahoo
Ramaco Resources Inc (METC) Q1 2025 Earnings Call Highlights: Navigating Challenges with ...
Adjusted EBITDA: $10 million in Q1 2025, down from $29 million in Q4 2024. Net Loss: $9 million in Q1 2025, compared to a net income of $4 million in Q4 2024. Class A EPS: $0.19 loss in Q1 2025 versus a $0.06 gain in Q4 2024. Cash Cost per Ton Sold: Under $100 for the second straight quarter. Quarterly Production: Record level, annualizing to 4 million tons despite weather impacts. Liquidity: $118 million as of March 31, 2025, up almost 25% year on year. 2025 Production Guidance: Reduced to 3.9 million to 4.3 million tons from 4.2 million to 4.6 million tons. 2025 Sales Guidance: Reduced to 4.1 million to 4.5 million tons from 4.4 million to 4.8 million tons. CapEx Guidance: Reduced to $55 million to $65 million from $60 million to $70 million. Cash SG&A Guidance: Increased to $36 million to $40 million from $34 million to $38 million. DDA Guidance: Reduced to $71 million to $76 million from $73 million to $78 million. Warning! GuruFocus has detected 7 Warning Signs with POWI. Release Date: May 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Ramaco Resources Inc (NASDAQ:METC) achieved the highest cash margins per ton and the highest realized sales price among its publicly traded peer group in Q1 2025. The company set a quarterly production record with 1 million tons produced, annualizing to 4 million tons, despite challenging weather conditions. Ramaco Resources Inc (NASDAQ:METC) maintained cash costs per ton sold under $100 for the second consecutive quarter, placing it in the first quartile of the US coal met producers' cost curve. The company is poised to expand production by an additional 2 million tons when market conditions improve, with plans for a deep mine expansion and new mining sections. Ramaco Resources Inc (NASDAQ:METC) is advancing its Brook Mine Rare Earth Project, with plans to become a major critical minerals producer, leveraging a significant domestic rare earth deposit. The company experienced a decline in earnings due to falling US and Australian met coal prices, despite strong operational performance. Ramaco Resources Inc (NASDAQ:METC) reduced its 2025 production and sales guidance due to weak market conditions, opting not to force tons into the spot market. The company faced production setbacks due to extreme weather conditions, losing approximately 150,000 tons of production in Q1 2025. Q1 2025 adjusted EBITDA decreased to $10 million from $29 million in Q4 2024, with a net loss of $9 million compared to a net income of $4 million in the previous quarter. The company anticipates continued weak market conditions, with Q2 2025 sales projected to be similar to Q1 levels, impacting cash market costs. Q: Can you provide insights into the expected improvement in sales and costs for the second half of the year, given the Q2 guidance of 900,000 tons? A: Jeremy Sussman, CFO: Our Q2 sales guidance of 850,000 to 950,000 tons implies a pickup in the second half. We expect the market to improve, allowing us to increase sales, potentially reaching around 1 million tons in Q3 and Q4. We are not forcing tons into a challenging market but are prepared to capitalize on improvements. Q: Could the Brook Mine be included in the FAST-41 projects list, and what benefits might that bring? A: Randall Atkins, CEO: The Brook Mine was not included in the FAST-41 list as it already has a permit. However, we are in discussions with the National Energy Dominance Council for potential federal assistance, which could include financing or procurement support, especially as we are poised to begin production. Q: Is there a desire to bring in a strategic or operating partner for the Brook Mine project? A: Randall Atkins, CEO: We are not seeking joint venture partners. Ramaco intends to finance the project independently, potentially with non-dilutive federal support. Our current partners, like Fluor, are development partners, and we plan to proceed as a Ramaco venture. Q: What is the breakdown of the reduced CapEx guidance, and how does it affect the Brook Mine? A: Jeremy Sussman, CFO: We reduced CapEx from $60-$70 million to $55-$60 million, deferring the fourth section of the Berwind mine. Maintenance CapEx is about $10 per ton, with $15 million for growth, including $5 million for the Brook Mine. Most growth CapEx is front-loaded in the year. Q: How does the recent executive order declaring met coal a potential critical mineral impact Ramaco? A: Randall Atkins, CEO: While federal funding for met coal isn't expected soon, the order could aid in permitting, especially for projects involving BLM land. It acknowledges met coal as critical, which may influence future federal coal policy and support. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
12-05-2025
- Business
- Washington Post
Ramaco Resources: Q1 Earnings Snapshot
LEXINGTON, Ky. — LEXINGTON, Ky. — Ramaco Resources, Inc. (METC) on Monday reported a loss of $9.5 million in its first quarter. The Lexington, Kentucky-based company said it had a loss of 19 cents per share. The company posted revenue of $134.7 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on METC at
Yahoo
10-05-2025
- Health
- Yahoo
Here's what happened when a taxpayer claimed a swimming pool as a medical expense
As you complete your 2024 tax return, which for most of us is due at the end of the month, one of the more popular tax credits you may be entitled to claim is the medical expense tax credit (METC). This credit is intended to provide tax relief for qualifying above-average medical or disability-related expenses incurred by individuals on behalf of themselves, a spouse or common-law partner, or a dependent relative. But not all medical expenses, even if recommended by a medical practitioner, will qualify. Take the recent case of an Ontario taxpayer who attempted to claim the cost of a swimming pool as a medical expense. In 2022, the taxpayer and his spouse purchased and installed in his backyard a TidalFit Pro EP-15 Exercise Pool, which was purchased as an exercise aid for their son who was diagnosed with Duchenne muscular dystrophy (DMD). The facts of the case are, as the judge noted, 'tragic,' as the life expectancy of the couple's child's is not expected to extend beyond age 20. Their son has been undergoing treatment through The Hospital for Sick Children in Toronto since his diagnosis. His nurse practitioner wrote a letter that outlined the symptoms and implications of a diagnosis of DMD, and in it she 'strongly recommend(s) swimming as a safe and effective therapy to help promote muscle strength and functioning.' The letter was written in reference to her support for the couple's purchase of a pool for their son to exercise in, due to the COVID-19 restrictions imposed in March 2020. The taxpayer testified that prior to the purchase of the exercise pool, their son would swim in community pools or in friends' pools. The taxpayer purchased the pool in 2022 for a total cost of $53,674. The pool resembles a large hot tub, in that it is longer than it is wide, has grab bars and is heated. In addition, it has jets that enable a person to swim in place against the current generated. The taxpayer testified that the pool was used almost exclusively by his son. But the taxpayer conceded that this type of pool could also be used by able-bodied individuals who could exercise by swimming against the current generated by the pool's jets. The taxpayer attempted to claim the $53,674 cost of the pool as a medical expense on his 2022 tax return, but in June 2023, the Canada Revenue Agency denied the credit. The taxpayer objected, but the assessment denying the METC was subsequently confirmed by the CRA on the basis that the exercise pool in question was 'not considered a medical device,' and was of a type that the general public could choose to purchase for recreational use, absent any 'severe and prolonged mobility impairment.' The Income Tax Act permits a wide range of eligible medical expenses and includes such expenses as prescription drugs, dental work and medical devices or equipment. For medical equipment to qualify, however, the specific equipment must be listed in the Income Tax Regulations. While there is an exhaustive list of prescribed medical devices, including items such as a pacemaker, orthopedic shoes, a hospital bed, and a walker (among many others); swimming pools are not on the list. The Tax Act, however, also permits individuals to claim 'reasonable expenses relating to renovations or alterations to a dwelling of the patient who lacks normal physical development or has a severe and prolonged mobility impairment, to enable the patient to gain access to, or to be mobile or functional within, the dwelling, provided that such expenses are not of the type that would typically be expected to increase the value of the dwelling, and are of a type that would not normally be incurred by persons who have normal physical development or who do not have a severe and prolonged mobility impairment.' Could the installation of a swimming pool potentially qualify as an eligible renovation? In the past, possibly. Indeed, before the law was changed about 20 years ago, a wide variety of home renovations were found by the courts to be eligible for the METC, including the installation of hot tubs and hardwood flooring, in appropriate circumstances. For example, a 2004 tax court case involved a taxpayer who was on long-term disability and suffered from several serious medical conditions including clinical depression and bi-polar disorder. He purchased a hot tub on the recommendation of his psychiatrist, who recommended hydrotherapy to provide 'deep relaxation for depression and anxiety.' While the judge did not allow the actual cost of the hot tub as a medical expense, he did allow the cost of the installation of the hot tub. As for hardwood floors, a June 2003 case involved a taxpayer suffering from severe allergies who had his carpeting removed and installed hardwood floors 'to remove sources of mould in the house.' The judge concluded that the $11,000 cost qualified as an eligible renovation expense for purposes of the METC. In direct response to these, among other cases, the Income Tax Act was amended to introduce the current two-criteria test for determining whether home renovation expenses qualify for the METC. First, the expense must not typically be expected to increase the value of the home; second, the expense must be something that would not typically be undertaken by someone without a mobility impairment. Some may find CRA's online portal is missing tax slips Primer on tax brackets, deductions and credits As the 2005 budget document noted, allowing general renovation expenses 'goes far beyond the policy intent of the [METC] because it subsidizes renovation expenses that increase the value of the home, and extends tax recognition to expenses with a substantial element of personal consumption and personal choice.' In the current case, while the judge may have been able to accept that the pool didn't increase the value of the couple's home, the pool 'was available for purchase by any member of the public and could … be used by able-bodied individuals as a swimming training aid.' As a result, the cost of the pool simply doesn't qualify as a medical expense under the current definition of eligible renovations. Jamie Golombek, FCPA, FCA, CFP, CLU, TEP, is the managing director, Tax & Estate Planning with CIBC Private Wealth in Toronto. If you liked this story, in the FP Investor newsletter.
Yahoo
15-03-2025
- Business
- Yahoo
Ramaco Resources Full Year 2024 Earnings: EPS Misses Expectations
Revenue: US$666.3m (down 3.9% from FY 2023). Net income: US$11.2m (down 86% from FY 2023). Profit margin: 1.7% (down from 12% in FY 2023). The decrease in margin was primarily driven by higher expenses. EPS: US$0.21 (down from US$1.67 in FY 2023). Coal Production: 3.33 Mt (2.879 Mt in FY 2023) Number of mines: 2 (4 in FY 2023) All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 45%. In the last 12 months, the only revenue segment was Metals & Mining - Coal contributing US$666.3m. Notably, cost of sales worth US$533.3m amounted to 80% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$65.6m (54% of total expenses). Explore how METC's revenue and expenses shape its earnings. Looking ahead, revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Metals and Mining industry in the US. Performance of the American Metals and Mining industry. The company's shares are up 13% from a week ago. It is worth noting though that we have found 3 warning signs for Ramaco Resources that you need to take into consideration. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
