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Argonaut Gold (AR) investor relations material
Argonaut Gold Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record annual revenue of $1,346.9 million for 2024, up 32% year-over-year, driven by higher gold prices and the acquisition of Argonaut Gold Inc.
Net earnings rose to $284.3 million, a 35% increase from 2023, with EPS at $0.70 basic and $0.69 diluted.
Completed the acquisition of Argonaut Gold Inc., adding the Magino mine and contributing $81.2 million in revenue and $6.6 million in earnings from July 12, 2024.
Reversed $57.1 million in prior impairments at Young-Davidson due to improved gold price assumptions.
Ended the year with $327.2 million in cash and cash equivalents, and total assets of $5,336.1 million.
Financial highlights
Revenue increased to $1,346.9 million in 2024 from $1,023.3 million in 2023.
Earnings from operations rose to $561.9 million, up from $318.1 million year-over-year.
Net earnings of $284.3 million, up from $210.0 million in 2023.
Operating cash flow reached $661.1 million, compared to $472.7 million in 2023.
Declared and paid $40.9 million in dividends, with $35.1 million paid in cash.
Outlook and guidance
Pro-forma 2024 revenue and earnings before income taxes, including full-year Magino, would have been $1,441.2 million and $418.2 million, respectively.
Ongoing integration of Magino mine expected to deliver immediate and long-term synergies.
Focus remains on advancing the Phase 3+ Expansion at Island Gold and the Lynn Lake project.
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