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Dec 31, 2024
Endeavour Silver Q4 2024 Earnings Report
Endeavour Silver reported lower production but higher realized silver prices in Q4 2024.
Key Takeaways
Endeavour Silver posted Q4 2024 revenue of $42.2 million, a 16% decline year-over-year due to lower sales volumes. Net income was $1.0 million, while adjusted net income reached $4.8 million. Adjusted EBITDA improved to $8.5 million, supported by higher realized silver prices despite a 51% drop in silver ounces sold. Operating cash flow before working capital changes fell 41% to $5.8 million.
Revenue declined 16% to $42.2 million due to lower silver and gold sales volumes.
Net income was $1.0 million, while adjusted net income improved to $4.8 million.
Adjusted EBITDA increased to $8.5 million from $9.3 million in Q4 2023.
Silver production fell 41% year-over-year, impacting overall revenues.
Revenue by Segment
Forward Guidance
Endeavour Silver expects continued production improvements in 2025, with increased output from the Terronera project and stable market demand.
Positive Outlook
- Terronera project nearing completion, with wet commissioning expected in early Q2 2025.
- Silver prices remain strong, supporting revenue growth.
- Improved production efficiency at Guanaceví after previous disruptions.
- Higher by-product gold sales expected to offset cost increases.
- Ongoing exploration efforts at Pitarrilla to support future production growth.
Challenges Ahead
- Lower silver production impacting overall revenue potential.
- Higher direct operating costs per tonne due to lower mill throughput.
- Increased all-in sustaining costs per ounce due to production declines.
- Ongoing operational risks from inflation and supply chain issues.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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