The earnings call highlighted some improvements in safety and stable average prices, but was overshadowed by a significant decline in revenue, production challenges at Finsch, market weakness, and increased net debt. Concerns about refinancing and covenant breaches further contributed to a negative sentiment.
Company Guidance
In the recent call discussing Petra's Half Year Operating Update, several key metrics and guidance points were highlighted. The company reported a decline in revenue to $146 million for the first half of FY '25 compared to $188 million in the same period of FY '24. This decrease was partly attributed to the prior year's benefit from deferred carat sales. The average price per carat remained stable at $112, despite market weaknesses. Safety improvements were noted, with a reduction in lost time injuries from 4 to 2 and a frequency rate decrease from 0.28 to 0.16. Production slightly declined by 2%, from 1.43 million carats to 1.4 million carats year-over-year. Petra revised pricing assumptions for Finsch from $80-$90 per carat down to $70-$80 per carat due to market conditions. Consolidated net debt was reported at $225 million by the end of December 2024, and the company remains focused on achieving net cash generation by addressing cost base and organizational restructuring, including a $44 million cost rebase in FY '25. The company aims to meet its FY '25 production guidance of 2.8 to 3.1 million carats.
Improvement in Safety Metrics
Safety improved in the second quarter with lost time injuries falling from 4 to 2 and the lost time injury frequency rate decreasing from 0.28 to 0.16.
Stable Average Prices Despite Market Weakness
Average price per carat received of $112 for the first half of FY ‘25 remained broadly stable over recent quarters, partially offsetting the overall weaker market.
Successful Restructuring Efforts
Initiatives under work streams 1 to 3 of the restructuring plan are being implemented, including optimization of the cost base and organizational structures.
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Petra Diamonds (GB:PDL) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
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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GB:PDL Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Feb 18, 2025
24.00p
25.60p
+6.67%
Sep 24, 2024
28.10p
28.00p
-0.36%
Feb 20, 2024
43.00p
41.00p
-4.65%
Sep 15, 2023
69.00p
70.00p
+1.45%
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 Petra Diamonds (GB:PDL) report earnings?
Petra Diamonds (GB:PDL) is schdueled to report earning on Sep 16, 2025, TBA Not Confirmed.
What is Petra Diamonds (GB:PDL) earnings time?
Petra Diamonds (GB:PDL) earnings time is at Sep 16, 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.