In This Article:
B2Gold Corp. BTG reported adjusted earnings per share (EPS) of 1 cent for fourth-quarter 2024, missing the Zacks Consensus Estimate of 6 cents. The bottom line slumped 86% year over year. The downside was attributed to the decrease in gold ounces sold in the quarter due to lower production at the Fekola mine.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Including one-time items, the company reported a loss of 1 cent per share compared with the prior-year quarter’s loss of 9 cents.
B2Gold generated revenues of $499.8 million in fourth-quarter 2024, reflecting a year-over-year decrease of 2.4%. The 33.5% increase in average realized gold prices was partially offset by a 26.9% fall in gold ounces sold in the quarter. In the December-end quarter, B2Gold recorded a consolidated gold production of 186,001 ounces, down 31.1% year over year.
B2Gold Corp Price, Consensus and EPS Surprise
B2Gold Corp price-consensus-eps-surprise-chart | B2Gold Corp Quote
In the fourth quarter, the Fekola mine's production fell short of expectations due to the delayed access to high-grade ore, leading to reduced processing of high-grade material.
BTG’s Q4 Gross Margin Dips Y/Y, Costs Rise
The company reported consolidated cash operating costs of $968 per ounce in the reported quarter, up 58.4% year over year. The consolidated all-in-sustaining costs (AISC) of $1,668 per ounce rose 32% from the prior-year quarter.
For the October-December quarter, the total cost of sales was $326 million, up 6.3% year over year. The gross profit decreased 15.4% year over year to $174 million. The gross margin contracted to 34.8% in the reported quarter from the prior-year quarter’s 40.1%.
The operating income in the reported quarter was $128 million against the prior-year quarter’s operating loss of $35 million.
B2Gold’s Q4 Cash Flow & Balance Sheet Update
BTG’s cash and cash equivalents were $337 million at the end of 2024 compared with $307 million at the end of 2023. The company generated $878 million in cash from operating activities in 2024 compared with $714 million in 2023. Its long-term debt was $421 million at the end of 2024, up from $176 million at the end of 2023.
BTG’s 2024 Performance
B2Gold reported an adjusted EPS of 16 cents in 2024 compared with 28 cents in the prior year. Earnings missed the Zacks Consensus Estimate of 21 cents. Including one-time items, the company posted a loss of 48 cents against earnings of 1 cent in 223.
Sales fell 1.2% year over year to $1.90 billion. The top line met the Zacks Consensus Estimate.