EQX Earnings Prediction
The chart below shows how EQX performed 10 days before and after its earnings report, based on data from the past quarters. Typically, EQX sees a +4.02% change in stock price 10 days leading up to the earnings, and a +3.96% change 10 days following the report. On the earnings day itself, the stock moves by -2.03%. This data can give you a slight idea of what to expect for the next quarter's release.
EQX Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
428.39M
50.44%
58.99%
Gross Margin
23.67%
167.46%
139.57%
Operating Margin
19.62%
547.52%
367.14%
Net Margin
0.07%
-91.03%
-99.93%
EPS
0.00
-100.00%
-100.00%
No Data Available
EQX Earnings Analysis
Equinox Gold Corp. Corporation (EQX.A) Earnings Conference Call
Positive
Record Gold Production Achievement: 1. Record Gold Production: Equinox Gold achieved a record third quarter with nearly 174,000 gold ounces produced and sold, contributing to revenues of $428 million, driven by higher production and gold prices.
Adjusted EBITDA Surge: 2. Strong Adjusted EBITDA Growth: The company reported an adjusted EBITDA of $142 million for Q3 2024, an increase of $61 million compared to Q3 2023, reflecting the positive impact of increased revenues.
Greenstone Gold Production: 3. Successful Greenstone Ramp-Up: Greenstone produced over 42,000 ounces of gold in Q3, with an all-in sustaining cost of $938 per ounce, marking a successful ramp-up to commercial production.
Strong Operational Cash Flow: 4. Significant Cash Flow Generation: Cash flow from operations before changes in noncash working capital was $130 million, equating to $0.30 per share, indicating strong operational cash generation.
Liquidity Enhancement: 5. Increased Liquidity Position: As of September 30, Equinox Gold had $168 million in unrestricted cash and $105 million available on its revolving credit facility, enhancing its financial flexibility.
Negative
Rising Cash Costs: 1. Increased Cash Costs: Q3 2024 cash costs rose to $1,720 per ounce, a $357 increase from $1,363 per ounce in Q3 2023, indicating rising operational expenses.
Rising Sustaining Costs: 2. High All-In Sustaining Costs: The all-in sustaining cost per ounce for Q3 2024 was $1,994, up from $1,600 in Q3 2023, reflecting increased costs associated with production ramp-up.
Production Decline Impact: 3. Lower Production at Aurizona and Mesquite: Production at Aurizona and Mesquite decreased by 24,000 ounces in Q3 2024 compared to Q3 2023, negatively impacting overall sales volume.
Recovery Rate Challenges: 4. Volatile Recovery Rates at Santa Luz: Recovery rates at Santa Luz were reported at only 58% for Q3 2024, significantly below expectations and indicative of operational challenges during the ramp-up.
Los Filos Operations Risk: 5. Potential Suspension of Operations at Los Filos: If new agreements with local communities are not reached by early 2025, there is a risk of suspending operations at the Los Filos mine, which could severely impact production and revenue.
EQX FAQs
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EQX Earning Call Sentiment
Equinox Gold Corp. (EQX) Q3 2024 Earnings Conference Call Transcript
1.0x
00:00
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EQX.A
3.24%Positive
Despite increased revenue and EBITDA, the company faces significant risks: slow production ramp-up, increased costs, regulatory challenges, and community relations issues. The Q&A revealed concerns about cost trends, recovery rates, and unresolved community negotiations. The conversion of convertible notes dilutes shares, and while liquidity is improved, the overall sentiment is negative due to operational uncertainties and cost pressures. Given the mid-cap size, these factors likely lead to a stock price decline in the range of -2% to -8%.
