Golden Minerals Co Reports FY23 Revenue of $12.0M, down from $23.3M YoY Vs $19.8M Est, EPS Loss of $(1.08) Vs $(1.49) YoY
Portfolio Pulse from Benzinga Newsdesk
Golden Minerals Co (AUMN) reported a FY23 revenue of $12.0M, a decrease from $23.3M in FY22, missing estimates of $19.8M. The EPS loss improved to $(1.08) from $(1.49) YoY. The revenue drop was attributed to lower sales from the Rodeo mine and additional revenue sources like slag and concentrate sales at Velardeña. Cost of metals sold and exploration expenses decreased, while administrative expenses slightly increased. The company maintained a zero debt level and reported a slight decrease in cash and equivalents.
March 19, 2024 | 10:58 am
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NEGATIVE IMPACT
Golden Minerals Co reported a significant revenue drop in FY23 to $12.0M from $23.3M in FY22, with an EPS loss of $(1.08), showing an improvement from $(1.49) YoY. The company missed revenue estimates but managed to reduce its net loss and maintain zero debt.
The significant drop in revenue and missing the estimates could negatively impact investor sentiment in the short term, despite the improvement in EPS loss and maintaining zero debt. The financial performance indicates challenges in revenue generation, which is critical for investor confidence.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100