Buenaventura (BVN) Misses Q1 EPS by 9c, Miss on Revenues

Buenaventura (NYSE: BVN) reported Q1 EPS of $0.11, $0.09 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $316.9 million versus the consensus estimate of $356 million.

First Quarter 2018 Highlights:

• In 1Q18, EBITDA from direct operations was US$97.6 million; a 20% increase as compared to US$81.3 million reported in 1Q17. Adjusted EBITDA (including associated companies) decreased 3% (US$ 173.7 million) in 1Q18, compared to the US$179.2 million in 1Q17.
• Total attributable production in 1Q18 was 148 thousand gold ounces and 7.2 million silver ounces, compared to 136 thousand gold ounces and 6.2 million silver ounces for the same period in 2017.
• Buenaventura refinanced its syndicated loan, extending the maturity until 2022 with a rate which has been reduced to Libor + 2.15%. All other terms remain the same.
• The Company´s Net Debt/EBITDA ratio was reduced to 1.2x.
• Adjusted EBITDA and Net Income have been affected mainly by the results coming from the affiliates.
• Management remains confident in achieving its production guidance for all of Buenaventura’s direct operations as was provided at the beginning of the year.
• At Cerro Verde, a dividend of US$ 200 million (US$ 39 million attributable to Buenaventura) was declared in the last AGM.

For earnings history and earnings-related data on Buenaventura (BVN) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Star Equity Holdings (STRR) Misses Q2 EPS by 8c
• Rein Therapeutics Inc. (RNTX) Tops Q2 EPS by 39c