2023-08-09 03:46:19 ET
- Hudbay Minerals press release ( NYSE: HBM ): Q2 Non-GAAP EPS of -$0.07 misses by $0.11 .
- Revenue of $312.17M (-24.9% Y/Y) misses by $29.06M .
- Second quarter adjusted EBITDA was $81.2 million, compared to $101.9 million in the first quarter of 2023.
- Operating cash flow before change in non-cash working capital was $55.9 million and adjusted EBITDA was $81.2 million in the second quarter.
- Consolidated production in the second quarter was 21,715 tonnes of copper and 48,996 ounces of gold, which includes production from the Copper Mountain mine during the 10-day stub period following the June 20, 2023 acquisition date.
- Consolidated cash cost and sustaining cash cost per pound of copper produced, net of by-product credits i , in the second quarter, were $1.60 and $2.73, respectively.
- Reaffirmed full year 2023 consolidated production, cash cost and sustaining cash cost guidance for Hudbay’s Peru and Manitoba operations.
- Total capital expenditures for 2023 are expected to be approximately $15 million lower than guidance levels, representing 5% of total capital expenditure guidance.
- Gold cash cost is expected to decline in the second half of 2023 and the full year cash cost is expected to remain within the 2023 guidance range.
For further details see:
Hudbay Minerals misses Q2 top and bottom line estimates; reaffirms FY23 outlook