B2Gold Earnings Surpass Estimates in Q1, Revenues Increase Y/Y

Core Viewpoint - B2Gold Corp reported strong financial results for the first quarter of 2025, with adjusted earnings per share (EPS) exceeding expectations and significant year-over-year improvements in revenue and gross profit [1][3]. Financial Performance - Adjusted EPS for Q1 2025 was 9 cents, beating the Zacks Consensus Estimate of 8 cents, and representing a 50% increase year over year [1]. - Including one-time items, the reported EPS was 4 cents, up 33% year over year [1]. - Revenues for the quarter reached $532 million, compared to$ 461 million in the same quarter last year, marking a year-over-year increase of 15.4% [1]. - Gross profit rose to $238 million, a 29.1% increase from the prior year, with a gross margin improvement to 44.7% from 39.9% [3]. Production and Costs - Consolidated gold production for the quarter was 192,752 ounces, down 10.1% year over year but above company expectations [2]. - Cash operating costs were$ 832 per ounce, up 15.9% year over year, while all-in sustaining costs were $1,533 per ounce, a 13.9% increase [2]. Cash Flow and Balance Sheet - Cash and cash equivalents at the end of Q1 2025 were$ 330 million, slightly down from $337 million at the end of 2024 [4]. - The company generated$ 179 million in cash from operating activities, a significant decrease from $711 million in the year-ago quarter [4]. - Long-term debt decreased to approximately$ 398 million from $421 million at the end of 2024 [4]. Production Guidance - B2Gold is on track to meet its total gold production guidance of 970,000-1,075,000 ounces for 2025, with the Goose Project expected to contribute 120,000-150,000 ounces in its first year of production [5]. Stock Performance - B2Gold's shares have increased by 14.8% over the past year, compared to a 45.7% growth in the industry [6].