Yamana Gold (AUY) Tops Q1 EPS by 2c, Revenues Miss

Yamana Gold (NYSE: AUY) reported Q1 EPS of $0.05, $0.02 better than the analyst estimate of $0.03. Revenue for the quarter came in at $356.5 million versus the consensus estimate of $461.98 million.

FIRST QUARTER HIGHLIGHTS

Strong Net Earnings and Cash Flow, Further Reduction in Net Debt

• Net earnings of $45.0 million or $0.05 per share basic and diluted compared to a net loss of $4.1 million or nil per share basic and diluted a year earlier.(1)
• Adjusted net earnings(1) of $47.2 million or $0.05 per share basic and diluted compared to adjusted net earnings of $24.0 million or $0.03 per share basic and diluted a year earlier.
• Strong quarterly cash flows from operating activities of $129.4 million, and cash flow from operating activities before net change in working capital of $164.6 million.
• Cash flows were all in line with or exceeded the average of the past four quarters, and exceeded all comparable cash flows in the first quarter of 2019.
• Net free cash flow(2) of $91.1 million exceeded the average of the past four quarters by 14%, following exceptional operational performances in the first quarter, despite the challenges stemming from the pandemic.
• Net debt(3) decreased by $20.0 million in the quarter due to the positive cash flow from operations. As of March 31, 2020, net debt(3) was $869.1 million.
• Considering the receipt of funds from the completion of the Equinox Gold sale transaction that occurred on April 15, 2020, net debt(3) at the end of the quarter was approximately $786.0 million on a pro forma basis.

For earnings history and earnings-related data on Yamana Gold (AUY) click here.

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