Americas Gold and Silver Q2 results miss; keeps full-year guidance

Americas Gold and Silver Corp. (AMEX: USAS ) stock traded higher Friday after the company reported second-quarter results and maintained its full-year production guidance.

Earnings Miss Estimates As Revenue Jumps Americas Gold and Silver reported a second-quarter loss of 2 cents per share, missing the analyst estimate for earnings of 2 cents per share.

Revenue totaled $46 million, missing the consensus estimate of $69.61 million.

However, revenue jumped 71% year over year, driven by higher realized metal prices.

Adjusted EBITDA improved to $12 million from an adjusted EBITDA loss of $4.1 million a year earlier.

The company attributed the improvement primarily to higher net revenue from stronger realized silver prices.

Cash and cash equivalents totaled $88.9 million as of June 30.

Silver Production Slips On Galena Upgrade Silver production declined year over year to 665,000 ounces.

The company extended the Galena Phase 2 shaft upgrade by two weeks to complete additional work.

Silver-equivalent production fell 5% to about 801,000 ounces.

Production also included 2.3 million pounds of lead, 900,000 pounds of copper and 97,000 pounds of antimony.

Cosalá produced 337,000 ounces of silver during the quarter, up 26% year over year.

Higher silver grades offset lower processed tonnage as mining advanced further into the EC120 orebody, the flagship operation at Cosalá.

The company also completed Phase 2 of the Galena No.

3 Shaft modernization.

The upgrade increased total hoisting capacity by about 150% and boosted skip payloads by 40%.

Cost of sales averaged $32.05 per silver-equivalent ounce sold.

Cash costs averaged $25.68 per silver ounce sold, while all-in sustaining costs, or AISC, were $40.63 per silver ounce sold.

Full-Year Silver Guidance Maintained Americas Gold and Silver maintained its full-year silver production guidance of 3.2 million to 3.6 million ounces.

The company continues to expect AISC of $30 to $35 per silver ounce sold.

Production is expected to be weighted toward the second half of the year as Idaho operations continue to ramp up.

USAS Price Action: Americas Gold And Silver shares were up 3.37% at $5.22 at the time of publication on Friday, according to Pro data.

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