Pan American (PAAS) Q1 Earnings Miss, Revenues Top Estimates
Zacks Investment Research | May 11, 2017 02:46AM ET
Pan American Silver Corp. (NASDAQ:PAAS) reported net earnings of $20 million or 13 cents per share for first-quarter 2017, up from the year-ago profit of $1.9 million or a penny per share. Higher net earnings reflect stronger mine operating earnings, partly offset by high cost of sales.
Barring one-time items, adjusted net earnings were 6 cents per share for the quarter, missing the Zacks Consensus Estimate of 8 cents.
Revenues rose 26% year over year to $198.7 million in the reported quarter, beating the Zacks Consensus Estimate of $185 million.
Total cash costs declined 23% year over year in the reported quarter.
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