Eldorado Gold (EGO) Misses Q1 EPS by 2c, Miss on Revenues
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Eldorado Gold (NYSE: EGO) reported Q1 EPS of ($0.01), $0.02 worse than the analyst estimate of $0.01. Revenue for the quarter came in at $111.9 million versus the consensus estimate of $122.35 million.
First Quarter Financial and Operational Highlights
- Profit of $3.8 million ($0.01 per share), compared to a loss of $2.5 million or $0.00 per share in the first quarter of 2016. Adjusted net earnings of $8.0 million ($0.01 per share) compared to an adjusted net loss of $0.7 million ($0.00 per share) in the first quarter 2016.
- Gold production of 75,172 ounces, compared to 79,892 ounces from continuing operations.
- Gold revenues of $90.5 million on sales of 74,068 ounces of gold at an average realized gold price of $1,222 per ounce.
- All-in sustaining cash costs averaged $791 per ounce; considerably lower than 2017 guidanceof all-in sustaining costs of $845-875 per ounce.
- Cash operating costs averaged $466 per ounce; lower than 2017 guidance of $484-535 per ounce.
- Total liquidity of approximately $1.1 billion, including $873.9 million in cash, cash equivalents and term deposits, and $250 million in undrawn lines of credit at quarter end.
- Olympias Phase II began commissioning in the first quarter 2017.
- Announced receipt of multiple tenders for significantly better concentrate sales terms for gold concentrate produced for beyond 2017 at Olympias Phase II.
- Construction at Skouries continued on track for anticipated 2019 start-up.
- George Burns set to take on role of President & Chief Executive Officer on April 28, 2017.
For earnings history and earnings-related data on Eldorado Gold (EGO) click here.
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