Equinox Gold Full Year 2024 Earnings: EPS Beats Expectations

Equinox Gold (TSE:EQX) Full Year 2024 Results

Key Financial Results

• Revenue: US$1.51b (up 39% from FY 2023).
• Net income: US$339.3m (up by US$310.4m from FY 2023).
• Profit margin: 22% (up from 2.7% in FY 2023).
• EPS: US$0.85 (up from US$0.092 in FY 2023).

EQX Production and Reserves

Gold

• Production: 621.89 troy koz (564.46 troy koz in FY 2023)
• Number of mines: 7 (7 in FY 2023)

All figures shown in the chart above are for the trailing 12 month (TTM) period

Equinox Gold EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%.

The primary driver behind last 12 months revenue was the Los Filos segment contributing a total revenue of US$412.2m (27% of total revenue). Notably, cost of sales worth US$990.2m amounted to 65% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$220.5m (77% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$100.5m. Explore how EQX's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Metals and Mining industry in Canada.

Performance of the Canadian Metals and Mining industry.

The company's shares are up 1.8% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for Equinox Gold (1 is potentially serious!) that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.