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Gatos Silver (GATO)
NYSE:GATO
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Earnings Data
Report Date
Mar 31, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.16Last Year’s EPS
$0.18Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 11, 2024
|% Change Since: -10.90%
|Next Earnings Date:Mar 31, 2025
Earnings Call Sentiment|Positive
The earnings call for Gatos Silver presented a strong quarter with record cash flows and substantial increases in production and financial metrics. Cost reductions and an extended mine life further bolstered positive sentiment. However, these were slightly offset by increased tax expenses and necessary mill maintenance shutdowns.Company Guidance
During the Gatos Silver earnings call for Q3 2024, several key metrics were highlighted, reflecting strong operational and financial performance. The Los Gatos Joint Venture reported record free cash flow of $42.6 million, enabling $54.2 million in distributions to partners, contributing to Gatos Silver's cash balance of $114.8 million at the end of October. The company revised its annual silver production guidance upward to between 9.2 million and 9.7 million ounces, a 10% increase at the low end. Silver equivalent production is now expected to reach between 14.7 million and 15.5 million ounces, up 9% at the low end. The site's operating unit costs decreased by 8% to approximately $97 per tonne, and all-in sustaining costs per ounce of payable silver fell by 35% to $9.61, well within the revised guidance range. Additionally, the company announced an extension of the mine life to 2032, with total expected silver equivalent production increasing by 36% compared to last year's plan.Record Cash Flow and Distributions
The Los Gatos Joint Venture reported record cash flow from operations and free cash flow of $42.6 million in Q3. This enabled $54.2 million in distributions to joint venture partners, leading to Gatos Silver having a cash balance of $114.8 million at the end of October.
Increased Silver Production and Guidance
Silver production increased by 9% to 2.42 million ounces, and silver equivalent production increased by 11% in the quarter. The company raised its full-year production guidance by 10% at the low end and 5% at the high end for silver.
Cost Reductions Achieved
Site operating unit costs were reduced by 8%, while cash costs were 4% lower compared to the third quarter last year. All-in sustaining costs per payable ounce of silver were 35% lower than the previous year.
Successful Reserve Update and Mine Life Extension
The life of mine was extended to 2032 with a 36% increase in total expected silver equivalent production. The average annual after-tax free cash flow is expected to be $80 million with significant leverage to higher metal prices.
Strong Financial Performance
Gatos Silver's net income for Q3 2024 was $9.9 million, 200% higher than in Q3 2023. Adjusted net income was $15.2 million compared to $3.3 million in the prior year period.
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GATO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GATO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 11, 2024 | $15.51 | $15.84 | +2.13% |
| Aug 06, 2024 | $10.83 | $10.11 | -6.65% |
| May 06, 2024 | $10.30 | $10.52 | +2.14% |
| Feb 20, 2024 | $5.99 | $5.91 | -1.34% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Gatos Silver (GATO) report earnings?
Gatos Silver (GATO) is schdueled to report earning on Mar 31, 2025, TBA Not Confirmed.
What is Gatos Silver (GATO) earnings time?
Gatos Silver (GATO) earnings time is at Mar 31, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GATO EPS forecast?
GATO EPS forecast for the fiscal quarter 2024 (Q4) is $0.16.
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