DYNACOR GROUP (DNG) Q3 2024 earnings summary

Executive summary

• Achieved record quarterly sales of $76.2 million and net income of $5.9 million ($0.16 per share) in Q3-2024, up from $63.4 million sales and $2.5 million net income in Q3-2023.

• Veta Dorada plant processed a record 47,721 tonnes of ore (519 tpd average), a 7.2% increase year-over-year.

• Gold production declined to 30,002 AuEq ounces from 34,103 AuEq ounces due to lower ore grades.

Financial highlights

• Sales increased 20.2% year-over-year, driven by higher gold prices and record ore volume processed.

• Gross operating margin rose to $10.3 million (13.6% of sales) from $7.0 million (11.0% of sales) in Q3-2023.

• Operating income reached $8.0 million, up 56.9% from $5.1 million in Q3-2023.

• EBITDA was $8.9 million, a 53.4% increase from $5.8 million in Q3-2023.

• Cash on hand at quarter-end was $42.0 million, up from $22.5 million at year-end 2023.

Outlook and guidance

• 2024 sales forecasted at $265–285 million, representing 6–14% growth over 2023.

• Net income for 2024 projected at $12–15 million ($0.33–0.41 per share), with actuals expected to exceed forecast.

• Planned 2024 capex up to $13 million, with some investments postponed to 2025.