Americas Gold and Silver (USAS) Q2 Earnings Beat, Improve Y/Y

Financial Performance - Americas Gold and Silver (USAS) reported a second-quarter 2024 loss per share of 2 cents, which was better than the Zacks Consensus Estimate of a loss of 4 cents, and an improvement from a loss of 3 cents per share in the same quarter of 2023 [1] - Revenues for the quarter were approximately $31.6 million, reflecting a 31% increase year-over-year, driven by higher silver output and increased prices for silver, zinc, and lead [2] - The company's attributable cash costs rose to $12.42 per ounce of silver produced, compared to $10 per ounce in the second quarter of 2023, while all-in-sustaining costs increased to $19.58 per ounce from $16.78 [6] Production Metrics - Attributable silver production was 0.51 million ounces, down 12% from the second quarter of 2023, with zinc production decreasing by 7% to 8.87 million pounds and lead production down 25% to 4.4 million pounds [3] - The Galena Complex achieved silver production of around 5.6 million ounces, marking a 41% year-over-year increase and the highest output since 2013 [4] - The Cosalá Operations saw a significant decline in silver production, down 49% year-over-year to 1.7 million ounces, as the company shifted focus to higher-grade zinc mining [5] Cash Position - The company ended the second quarter with cash and cash equivalents of $3.6 million and a working capital deficit of $38.8 million, generating $2.3 million in cash from operating activities compared to a usage of $5.9 million in the same quarter of 2023 [7] Market Performance - Shares of USAS have decreased by 33.2% over the past year, contrasting with a 1% decline in the industry [8]