CA - Ero Copper Non-GAAP EPS of $0.24 revenue of $104.9M misses by $4.18M

2023-08-04 01:26:17 ET

• Ero Copper press release ( NYSE: ERO ): Q2 Non-GAAP EPS of $0.24.
• Revenue of $104.9M (-8.7% Y/Y) misses by $4.18M .
• Copper production of 12,004 tonnes at C1 cash costs of $1.52 per pound of copper produced
• Gold production of 12,333 ounces at C1 cash costs and All-in Sustaining Costs of $492 and $1,081, respectively, per ounce of gold produced.
• Adjusted EBITDA of $49.1 million.
• Reaffirming 2023 production and C1 cash cost guidance; increasing full-year capital expenditure guidance by $15 to $20 million to reflect proactive investments at the Caraíba Operations.
• “Looking ahead, we anticipate a stronger second half of 2023 as we target commissioning of the new ball mill for our plant expansion project at the Caraíba Operations during the fourth quarter, and produce first ore from the recently developed Matinha vein at the Xavantina Operations."

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