Q1 2025 Coeur Mining Inc Earnings Call Transcript
Key Points
- Coeur Mining Inc (CDE) reported its fourth consecutive quarter of positive EPS and another quarter of positive free cash flow.
- The company successfully eliminated nearly $130 million of debt and metal prepay facilities in the first quarter.
- Integration of Las Chispas is proceeding smoothly, with high-grade production at low costs.
- Exploration efforts resulted in a significant discovery in the gap zone between the Babicanora and Las Chispas zones.
- Coeur Mining Inc (CDE) is on track to achieve its full-year guidance, with anticipated silver and gold production growth expected to drive full-year adjusted EBITDA to over $700 million and free cash flow to more than $300 million.
- The first quarter is expected to be the lightest production quarter of the year, with several one-time and quarter-specific items impacting results.
- Despite improvements, Rochester's crusher performance still requires optimization to achieve desired throughput and crush size.
- The integration of Las Chispas led to higher costs applicable to sales due to inventory acquired at fair value.
- There are nearly $300 million of deferred tax liabilities from the SilverCrest acquisition, impacting future income tax expense.
- The company faces ongoing challenges in managing cost pressures, particularly at Rochester and Kensington, despite some relief in consumables.
Good day and welcome to the Coeur Mining first-quarter 2025 financial results conference call. (Operator Instructions) Please note this conference is being recorded. I would now like to turn the conference over to Mitchell Krebs, President and CEO. Please go ahead.
Good morning, everyone, and thanks for joining our call today to discuss our first-quarter results. Joining me are Mick Routledge, Aoife McGrath, and Tom Whelan, and we will all be available to answer questions at the end of the call.
Before we start, please note our cautionary language regarding forward-looking statements and refer to our SEC filings on our website. The first quarter highlights shown on slide 3 summarize our solid start to the year, which led to the fourth consecutive quarter of positive EPS and another quarter of positive free cash flow.
These were great outcomes considering the first quarter is expected to be our lightest quarter of the year, and we had several onetime and quarter
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