Eldorado Gold Earnings: Here’s Why Shares are Down Now

Eldorado Gold Corp. (NYSE:EGO) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.32%.

Markets are at 5-year highs! Discover the best stocks to own. Click here for our fresh Feature Stock Pick now!

Eldorado Gold Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 15.38% to $0.11 in the quarter versus EPS of $0.13 in the year-earlier quarter.

Revenue: Rose 24.51% to $338.1 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Eldorado Gold Corp. reported adjusted EPS income of $0.11 per share. By that measure, the company missed the mean analyst estimate of $0.12. It missed the average revenue estimate of $345.9 million.

Quoting Management: “During the first quarter Eldorado sold 189,346 ounces of gold at an average gold price of $1,622 per ounce. Our gold mines continue to perform to plan and generate significant cash flows which will be used for the Phase IV expansion of our Kisladag mine and new mine development,” said Paul Wright, CEO of Eldorado. “The Company continues to maintain its guidance for 2013, with gold sales of 705,000 to 760,000 ounces, operating cash costs of $515-530 per ounce and all-in cash costs of approximately $950 per ounce. With our strong balance sheet and comparatively low cost gold mining operations Eldorado is well positioned to confront the recent weakness in gold prices.”

Key Stats (on next page)…

More Articles About:   , , , ,