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Earnings Call Summary | Largo Resources(LGO.US) Q1 2024 Earnings Conference

moomoo AI ·  May 16 20:17  · Conference Call

The following is a summary of the Largo Inc. (LGO) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Largo's revenues for Q1 2024 were reported to be $42.2 million, a decrease from their Q1 2023 revenues of $57.4 million due primarily to lowered vanadium prices.

  • Operating costs for the quarter stood at $49.7 million, up from the previous year's $45.9 million.

  • A net loss of $13 million was reported, including $4.4 million designated as non-recurring items.

  • Basic loss per share increased to $0.20 from $0.02.

Business Progress:

  • Largo is committed to enhancing production efficiencies and dropping cash costs to counterbalance low vanadium prices and return to profitability.

  • Projected reductions in operating and capital expenditures for 2024 amount to approximately BRL40 million and BRL12 million respectively, reflecting the implementation of productivity initiatives and cost-saving measures.

  • The company is progressing on a strategic partnership with Straton Energy in a bid to expand its Clean Energy business and energy storage product range.

More details: Largo Resources IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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