Canada · Delayed Price · Currency is CAD First Majestic Silver Earnings Call Transcripts
Fiscal Year 2026
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Q1 saw record revenue and cash flow, with both silver and gold production exceeding guidance. Margins and dividends reached all-time highs, while expansions and aggressive exploration continue to drive growth. Management transitions and the Jerritt Canyon restart are progressing smoothly.
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Strong silver and gold prices, operational expansions, and strategic asset management drive robust performance and outlook. Major investments in exploration and the Jerritt Canyon restart, along with a unique minting facility, support growth and shareholder returns.
Fiscal Year 2025
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Record annual revenue and cash flow driven by strong silver production, higher realized prices, and successful integration of Gatos. Dividend policy doubled for 2026, with robust exploration and plant expansions planned.
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Record Q3 results with all-time highs in silver production, revenue, and EBITDA, supported by strong liquidity and successful integration of Los Gatos. Management downplays the long-standing tax dispute, focusing on operational excellence and continued growth.
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Silver and gold prices are driving strong financial and operational results, with record production, a major acquisition, and ongoing mill expansions. The in-house mint and new discoveries support future growth, while a robust cash position and dividend policy highlight financial strength.
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Record revenue and EBITDA were achieved, driven by strong silver production and smooth integration of Cerro Los Gatos. Cash position reached $510 million, with robust exploration and development spending supporting future growth.
Fiscal Year 2024
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Record Q4 cash flow and strong 2024 production were achieved, with a robust cash position and continued growth initiatives. The Gatos acquisition expands the asset base, while 2025 guidance targets higher output and aggressive exploration. Integration and cost synergies are key near-term priorities.
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The merger creates a leading intermediate silver producer with three world-class mining districts, diversified production, and a stronger financial base. Gatos shareholders receive a premium and exposure to a multi-asset platform, while operational synergies and enhanced liquidity are expected.
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H2 2024 guidance includes increased CapEx and exploration, with strong production growth expected, especially at La Encantada and San Dimas. Strategic focus is on ramping up exploration, advancing First Mint, and addressing operational challenges at San Dimas and Jerritt Canyon.