Rain Expected Tonight as Ramaco Resources Reports Third Quarter Loss
LEXINGTON, Ky. – Forecasts indicate partly cloudy skies transitioning to rain overnight, with a low temperature around 65°F and an 80% chance of precipitation. Rainfall amounts could reach up to a half an inch, with locally heavy rainfall expected as winds blow from the south-southwest at 10 to 15 mph. The weather alert has been issued for local residents, considering the possibility of heavy rain causing minor disruptions.
In economic news, Ramaco Resources, Inc. (METC), headquartered in Lexington, reported a loss of $239,000 for the third quarter ending September 30, 2024. This translates to a loss of 3 cents per share, reflecting the company’s ongoing challenges in the current economic environment.
The company’s financial report underscores a difficult quarter, highlighting the pressures faced in the coal industry amid fluctuating market conditions. Despite these losses, Ramaco remains committed to its operations in Kentucky, focusing on strategic adjustments to navigate these challenging times.
As the community prepares for the rain tonight, the impact of both weather and economic updates are likely to dominate local discussions. Residents are encouraged to stay informed about weather conditions and any potential impacts on transportation and daily activities.
