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Hudbay Minerals Inc (HBM)
NYSE:HBM
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.28Last Year’s EPS
$0.14Same Quarter Last Year
Strong Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 13, 2024
|% Change Since: -3.73%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted several positive developments, including record gold production, improved cost guidance, and successful deleveraging efforts. Although there were some challenges in copper production, particularly in British Columbia and Peru, the overall performance and strategic progress, especially in operational efficiency and financial flexibility, overshadowed these issues.Company Guidance
During Hudbay Minerals' Q3 2024 earnings call, the company reaffirmed its 2024 consolidated production guidance and announced an improvement in its consolidated cash cost guidance for the second consecutive quarter. Consolidated copper production for Q3 was 31,000 tonnes, while gold production surged to 89,000 ounces, a 52% increase from Q2. Notably, the New Britannia mill in Manitoba reached record throughput levels, contributing to the robust gold output. The company reported consolidated cash costs of $0.18 per pound of copper, substantially down from $1.14 in Q2, and adjusted EBITDA jumped 42% to $206 million. Hudbay continues to leverage its copper and gold production diversification to generate steady free cash flow and reduce debt, marking a $300 million gross debt reduction over the past year. With strong operational performance, Hudbay has improved its full-year consolidated cash cost guidance to a range of $0.65 to $0.85 per pound of copper, down from the previous range of $0.90 to $1.10.Record Gold Production
Hudbay achieved record gold production in Manitoba, driven by new quarterly record throughput levels at the New Britannia mill, with a 52% increase from the second quarter.
Improved Cost Guidance
Consolidated cash costs were significantly improved to $0.18 per pound of copper in the third quarter, reflecting higher by-product credits and lower mining, milling treatment, and refining costs.
Strong Free Cash Flow Generation
Hudbay generated $86 million of free cash flow in the quarter, marking five consecutive quarters of meaningful free cash flow generation.
Deleveraging Success
The company reduced net debt by over $500 million over the past 12 months, improving the net debt to adjusted EBITDA ratio to 0.7x.
Operational Excellence at Constancia Mill
Constancia mill achieved an average of 87,000 tonnes per day year-to-date, a 15% increase above nameplate capacity.
Copper World Permitting Progress
Hudbay received the Aquifer Protection Permit from the Arizona Department of Environmental Quality for Copper World, advancing the project's development.
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HBM 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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HBM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $8.57 | $8.63 | +0.70% |
| Aug 13, 2024 | $7.35 | $7.27 | -1.09% |
| May 14, 2024 | $8.79 | $10.04 | +14.22% |
| Feb 23, 2024 | $5.36 | $5.59 | +4.29% |
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 Hudbay Minerals Inc (HBM) report earnings?
Hudbay Minerals Inc (HBM) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Hudbay Minerals Inc (HBM) earnings time?
Hudbay Minerals Inc (HBM) earnings time is at Feb 20, 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 HBM EPS forecast?
HBM EPS forecast for the fiscal quarter 2024 (Q4) is $0.28.
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