Kirkland Lake Gold (KL) Reports Q4 EPS of $0.98

Kirkland Lake Gold (NYSE: KL) reported Q4 EPS of $0.98, versus $0.88 reported last year. Revenue for the quarter came in at $691.55 million, versus $412.38 million reported last year.

Tony Makuch, President and Chief Executive Officer of Kirkland Lake Gold commented: “2020 will go down as a year that no one will ever forget. Faced with the challenges of a global pandemic, our team rose to the occasion and effectively responded to the COVID-19 virus with there being no transmission of the virus at any of our sites during the year. At the same time that we were focusing on protecting our people, we also turned in our best year ever, achieving record levels of production, earnings and cash flows and meeting all of our consolidated FY 2020 guidance. In Q4 2020, we had our best quarter of the year, achieving record quarterly production and earnings, with all three operations reaching their highest production levels of 2020. Obviously, the high gold price environment was a key factor for both the full year and Q4, but so was the hard work of a lot of people at our company. “In addition to record results, we also achieved a number of other important milestones in 2020. We completed the acquisition of Detour Gold Corporation on January 31, 2020, with Detour Lake contributing over 40% of our free cash flow for the year and significant production growth expected at the mine in 2021. We also achieved encouraging exploration results at all three of our cornerstone assets and made excellent progress with our key growth projects. Very importantly, we returned $848.3 million to shareholders through share repurchases and dividend payments, and in early January achieved our goal of repurchasing 20 million shares over a 12-to-24 month period. When we look at the quality of our assets, the progress being achieved and the tremendous upside that remains to be realized, we believe that the value creation potential for our company remains industry leading.”

For earnings history and earnings-related data on Kirkland Lake Gold (KL) click here.

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