Tahoe Resources (TAHO) Misses Q2 EPS by 4c, Revenues Miss

Tahoe Resources (NYSE: TAHO) reported Q2 EPS of ($0.05), $0.04 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $127.1 million versus the consensus estimate of $132.07 million.

Jim Voorhees, President and CEO of Tahoe: “Our gold business performed well this quarter with notable improvements over the prior period. We produced 102.6 thousand ounces and we remain on track to meet our 2018 full-year production, cost and capital guidance. At Shahuindo, we achieved record quarterly production of 24.5 thousand ounces and in Timmins we achieved record quarterly mill throughput of 3,921 tonnes per day (tpd). Construction at our two expansion projects, the Bell Creek shaft and the Shahuindo Expansion, continue to progress nicely and both remain on track for completion by the end of the year, positioning us to achieve our target of approximately 500 thousand ounces of gold production in 2019. We reported a loss of ($0.05) per share for the quarter reflecting the continued impact of the Escobal mine suspension and our ongoing care and maintenance costs to maintain readiness for restart. While we are disappointed that the Constitutional Court decision is still pending, we remain focused on those issues within our control. We continue to have constructive dialogue at the Casillas roadblock and we believe we are well-positioned to resume operations at Escobal following a positive court ruling."

For earnings history and earnings-related data on Tahoe Resources (TAHO) click here.

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