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VANCOUVER - Ero Copper (TSX:ERO) Corp. (NYSE:ERO) reported mixed fourth quarter results, with earnings missing estimates but copper production hitting a record high. The company’s shares edged up 0.5% following the release.
The Canadian copper producer posted adjusted earnings per share of $0.17 for Q4, falling short of analyst expectations of $0.20. Revenue came in at $122.5 million, below the consensus estimate of $151.97 million.
Despite the earnings miss, Ero Copper achieved record quarterly copper production of 12,883 tonnes in Q4, bringing full-year output to 40,600 tonnes. The company’s Caraíba Operations in Brazil produced 8,566 tonnes of copper in the quarter at C1 cash costs of $1.85 per pound.
"The strategic investments we made to grow our business in 2023 and 2024 have positioned us for a pivotal year ahead, with the Tucumã Operation set to drive transformational growth in both copper production and cash flow from operations," said Makko DeFilippo, President and CEO of Ero Copper.
For the full year 2024, Ero Copper reported adjusted net income of $80.4 million, or $0.78 per share. The company ended the year with $50.4 million in cash and cash equivalents.
Looking ahead, Ero Copper reaffirmed its 2025 production guidance of 75,000 to 85,000 tonnes of copper. The company expects consolidated copper C1 cash costs between $1.55 to $1.80 per pound for 2025.
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