- Endeavour Mining press release (OTCQX:EDVMF): Q4 Non-GAAP EPS of $0.17 misses by $0.07.
- Revenue of $579M (+14.0% Y/Y) beats by $26.22M.
- Q4-2023 production of 280koz at an industry-low AISC of $947/oz; totalling 1,072koz at an AISC of $967/oz for FY-2023.
- Adjusted EBITDA of $292M for Q4-2023.
- Operating cash flow before changes in WC of $246M (or $1.00/sh) for Q4-2023.
- Healthy financial position with net debt of $555m and leverage of 0.50x Net Debt / Adj. EBITDA despite investing $548M in organic growth and exploration and delivering $266M in shareholder returns during the year.
-
2024 OUTLOOK
- As published on 22 January 2023, the production guidance for FY-2024 amounts to 1,130-1,270koz, which marks an increase of up to nearly 200koz or 18.5% over the FY-2023 production from continuing operations of 1,072koz.
- The AISC is expected to remain consistent with that achieved over recent quarters at an industry-low $955-1,035/oz.
- Group production is expected to be more heavily weighted towards H2-2024, while AISC is also expected to be lower in H2-2024.
- Total mine capital expenditure for FY-2024, consisting of both sustaining and non-sustaining capital spend, is expected to be approximately $315.0 million, which marks a decrease of $19.2 million or 6% compared to the FY-2023 expenditure.
- Growth capital spend for FY-2024 is expected to amount to approximately $245.0 million, which marks a decrease of $202.5 million or 45% compared to the FY-2023 expenditure of $447.5 million.