Earnings Miss Estimates As Revenue Jumps
Americas Gold and Silver reported a second-quarter loss of 2 cents per share, missing the analyst estimate for earnings of 2 cents per share.
Revenue totaled $46 million, missing the consensus estimate of $69.61 million. However, revenue jumped 71% year over year, driven by higher realized metal prices.
Adjusted EBITDA improved to $12 million from an adjusted EBITDA loss of $4.1 million a year earlier. The company attributed the improvement primarily to higher net revenue from stronger realized silver prices.
Cash and cash equivalents totaled $88.9 million as of June 30.
