Antofagasta Full Year 2024 Earnings: EPS Beats Expectations

Antofagasta (LON:ANTO) Full Year 2024 Results

Key Financial Results

• Revenue: US$6.61b (up 4.6% from FY 2023).
• Net income: US$829.4m (flat on FY 2023).
• Profit margin: 13% (in line with FY 2023).
• EPS: US$0.84 (down from US$0.85 in FY 2023).

ANTO Production and Reserves

Copper

• Production: 0.562 Mt (0.294 Mt in FY 2023)
• Proved and probable reserves (ore): 738 Mt (3,826 Mt in FY 2023)
• Number of mines: 4 (4 in FY 2023)

Molybdenum

• Production: 10,700 t (6,890 t in FY 2023)
• Number of mines: 2 (2 in FY 2023)

Gold

• Production: 186.9 troy koz (142.04 troy koz in FY 2023)
• Number of mines: 2 (2 in FY 2023)

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

Antofagasta EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 27%.

The primary driver behind last 12 months revenue was the Mining - Los Pelambres segment contributing a total revenue of US$3.33b (50% of total revenue). Notably, cost of sales worth US$4.11b amounted to 62% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling US$789.9m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how ANTO's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Metals and Mining industry in the United Kingdom.

Performance of the British Metals and Mining industry.

The company's shares are up 2.8% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Antofagasta that you need to take into consideration.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.