Imperial Metals (III) Q2 2025 earnings summary

Executive summary

• Second quarter 2025 operations aligned with guidance, driven by higher throughput and improved copper and gold grades at Mount Polley and Red Chris.

• Consolidated production for the first half of 2025 reached 32.4 million pounds copper and 34,968 ounces gold, keeping the company on track for annual guidance.

• Strong financial results in Q2 2025, with adjusted EBITDA of $99.5 million and cash earnings of $97.7 million, supported by operational performance and higher metal prices.

Financial highlights

• Q2 2025 revenue was $175.8 million, up from $131.7 million in Q2 2024, reflecting higher production and favorable metal prices.

• Net income for Q2 2025 was $40.6 million ($0.25 per share), compared to $20.4 million ($0.13 per share) in Q2 2024.

• Adjusted EBITDA rose to $99.5 million from $54.0 million year-over-year; cash earnings increased to $97.7 million from $53.1 million.

• Capital expenditures including leases were $64.1 million in Q2 2025, up from $55.9 million in Q2 2024.

Outlook and guidance

• On track to achieve 2025 production guidance based on strong first-half results.

• Advancing Red Chris Block Cave Feasibility Study, with ongoing permitting and early-stage underground development.