Q2 2026 Endeavour Silver Corp Earnings Call Transcript
Key Points
- Endeavour Silver Corp (EXK) reported a 36% increase in silver equivalent production in Q2 2026, totaling 3 million ounces.
- Revenue surged 150% year-over-year to $212 million, with mine operating cash flow up 300% to $100 million before taxes.
- The company holds a strong cash position of $236 million and working capital of $214 million, providing a solid foundation for growth.
- Terronera's ramp-up is progressing, with higher-grade silver zones expected to be accessed in the second half of the year, potentially lowering costs.
- Exploration drilling has restarted at Terronera and Guanacevi, with promising results that could extend mine life and expand resources.
- All-in sustaining costs (AISC) increased 47% year-over-year to $37 per ounce, driven by higher royalties, profit sharing, and input costs.
- Direct costs per ton rose 14% due to the appreciation of the Mexican peso, putting pressure on operational margins.
- Guanacevi's costs were higher than planned due to lower grades and increased reliance on more expensive third-party ore, which now accounts for over 25% of direct costs.
- The company increased its 2026 capital expenditure budget by $18 million at Colpa for expansion and infrastructure upgrades, including tailings and power systems.
- The Pitarrilla feasibility study has been delayed to the end of Q3, and the company faces permitting challenges in Mexico, particularly for the tailings storage facility.
Thank you for standing by. This is the conference operator. Welcome to the Endeavor Silver Second Quarter 2026 Financial Results Conference Call.(Operator Instructions) I would now like to turn the conference over to Allison Pettit, Vice President, Investor Relations. Please go ahead.
Thank you, operator, and good morning, everyone. Before we get started, I ask that you view our MD&A precautionary language regarding forward-looking statements and the risk factors pertaining to these statements.
Our MD&A and financial statements are available on our website at edrsilver.com.
On today's call, we have Dan Dickson , Endeavor Silver's CEO, and Elizabeth Senez, our CFO.
Following Dan Dickson formal remarks, we will open the call for questions.
And now over to Dan Dickson .
Thanks, Allison, and welcome, everyone.
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