First Majestic Announces Record Free Cash Flow for Q4 2024, FY 2024 Financial Results and Quarterly Dividend Payment

Core Viewpoint - First Majestic Silver Corp. reported strong financial results for Q4 2024, highlighting record free cash flow, increased revenues, and improved operational metrics, despite a net loss due to non-cash expenses [3][4][10]. Q4 2024 Highlights - Record free cash flow of $68.4 million, a 119% increase from the previous quarter [4] - Cash and restricted cash balance of $308.3 million, with $202.2 million in cash and cash equivalents [4] - Revenues of $172.3 million, an 18% increase from Q3 2024 [4] - Mine operating earnings of $48.2 million, up 69% from the previous quarter [4] - EBITDA of $62.0 million, a 68% increase from Q3 2024 [4] - Consolidated cash cost improved to $13.82 per AgEq ounce, a 9% decrease from the previous quarter [4] - All-in sustaining cost (AISC) decreased to $20.34 per AgEq ounce, down 3% from Q3 2024 [4] - Record quarterly sales at First Mint of $9.1 million, a 237% increase from the previous quarter [4] - Declared a cash dividend of $0.0057 per common share for Q4 2024 [4][17] 2024 Annual Highlights - Achieved annual production of 21.7 million AgEq ounces, with an average AISC of $21.11 [7] - Operating cash flows before working capital and taxes increased by 40% year-over-year to $138.6 million [7] - Annual revenues of $560.6 million, a 2% decrease from 2023 [7] - Mine operating earnings increased by 259% year-over-year to $91.9 million [7] - EBITDA for the year was $127.1 million, compared to a $41.8 million loss in 2023 [7] - Ended 2024 with a cash position of $308.3 million [14] Operational Metrics - Ore processed increased by 10% quarter-over-quarter to 745,124 tonnes [6] - Silver ounces produced rose by 20% quarter-over-quarter to 2,353,865 ounces [6] - Cash costs per silver equivalent ounce improved by 9% quarter-over-quarter [6] - Average realized silver price per silver equivalent ounce increased by 3% quarter-over-quarter to $30.80 [6] Share Repurchase Program - The Company amended its share repurchase program to allow for off-market transactions [12]