Pan American Silver (PAAS) Tops Q1 EPS by 3c, Revenues Miss

Pan American Silver (NASDAQ: PAAS) reported Q1 EPS of $0.05, $0.03 better than the analyst estimate of $0.02. Revenue for the quarter came in at $232.6 million versus the consensus estimate of $241.16 million.

• Net income of $33.8 million, equivalent to $0.19 basic earnings per share
• Adjusted income of $8.7 million, equivalent to $0.05 basic adjusted income per share
• Revenue of $232.6 million
• Production on track to achieve annual guidance

"Our mines delivered solid results in the first quarter, despite soft precious metal prices, generating $61.4 million in operating cash flow before interest, taxes and working capital changes," said Michael Steinmann, President and Chief Executive Officer. "After closing the Tahoe transaction in February, Pan American is now a larger, more diversified company with enhanced growth prospects. As we integrate these new assets into our portfolio, we are focused on capturing synergies and maintaining low-cost, efficient operations across the company."

"The La Colorada skarn exploration program continues to return wide, high-grade intersects and we are looking forward to advancing this discovery towards releasing a first resource estimate later in the year. We also plan on commencing production from our COSE and Joaquin mines in Argentina in the second half of 2019," added Mr. Steinmann.

For earnings history and earnings-related data on Pan American Silver (PAAS) click here.

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