Ero Copper Q4 Earnings Miss Estimates, Revenues Increase Y/Y

Core Insights - Ero Copper reported fourth-quarter 2024 adjusted earnings per share of 17 cents, missing the Zacks Consensus Estimate of 21 cents, and reflecting a 19% decline year over year [1][7] - The company's revenues for the quarter were $122.5 million, a 5.2$130 million [3][7] Financial Performance - Including one-time items, Ero Copper reported a loss of 47 cents per share in Q4 2024, compared to earnings of 37 cents in Q4 2023 [2] - Gross profit increased by 25.3% year over year to $52.4 million, with adjusted EBITDA improving 17.5$59 million, resulting in an adjusted EBITDA margin of 48.2% [5] - The company’s cash flow from operating activities generated $145 million, down from$163 million in the previous year [8] Production Metrics - Ero Copper produced 8,566 tons of copper in Q4 2024, down from 11,760 tons in the same quarter of the previous year, with total copper production for 2024 at 35,444 tons, a 19.2% decrease from 2023 [6] - Gold production in Q4 2024 was 8,936 ounces, with total production for the year at 59,222 ounces, consistent with the previous year [6] Cost Analysis - Copper C1 cash costs for Q4 2024 were $1.85, up from$1.75 in Q4 2023, while gold C1 cash costs rose to $744 from$413 [4] - All-in Sustaining Costs (AISC) for Q4 2024 were $1,691, significantly higher than$991 in the same quarter of 2023 [4] Guidance and Future Outlook - For 2025, Ero Copper expects consolidated copper production between 75,000 tons and 85,000 tons, with gold production projected at 50,000-60,000 ounces [9][10] - The company anticipates copper C1 cash costs to range between $1.55 and$1.80 for the year [9] Market Performance - Ero Copper's shares have declined by 25.4% over the past year, contrasting with a 3% growth in the industry [11]