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Wheaton Precious Q1 Earnings Beat Estimates, Revenues Rise Y/Y
WPMWheaton Precious Metals(WPM) ZACKS·2025-05-13 18:20

Core Insights - Wheaton Precious Metals Corp. (WPM) reported adjusted earnings per share of 55 cents for Q1 2025, exceeding the Zacks Consensus Estimate of 50 cents, marking a year-over-year improvement of 53.2% [1] - The company generated revenues of 470millioninQ12025,reflectinga58.5470 million in Q1 2025, reflecting a 58.5% increase year-over-year, driven by a 16.2% rise in Gold Equivalent Ounces (GEOs) sold [2] - Average realized gold price was 2,872 per ounce, up 38.6% year-over-year, while silver prices increased by 36% to 32.33perounce[2]RevenueandProduction−Wheaton′sgoldproductionforQ12025was92,681ounces,slightlyupfrom91,939ouncesintheprior−yearquarter,butattributablesilverproductiondecreasedby13.732.33 per ounce [2] Revenue and Production - Wheaton's gold production for Q1 2025 was 92,681 ounces, slightly up from 91,939 ounces in the prior-year quarter, but attributable silver production decreased by 13.7% to 4.73 million ounces [3] - The total production of GEOs was 151,065, down 4.4% from 158,072 GEOs in the previous year [3] Financial Performance - Total cost of sales increased by 20.8% year-over-year to approximately 151 million, while gross profit rose by 86% to 319million,resultinginagrossmarginof67.8319 million, resulting in a gross margin of 67.8% compared to 57.8% in the prior-year quarter [4] - Average cash costs were 446 per GEO, up from 433inthepreviousyear,withcashoperatingmarginincreasingby45433 in the previous year, with cash operating margin increasing by 45% year-over-year to 2,400 per GEO sold [5] Balance Sheet and Cash Flow - At the end of Q1 2025, Wheaton had 1.08billionincash,upfrom1.08 billion in cash, up from 0.8 billion at the end of 2024, with operating cash flow reported at 361millioncomparedto361 million compared to 219 million in Q1 2024 [6] - The company has a 2billionundrawnrevolvingcreditfacility[6]FutureOutlook−For2025,goldproductionisexpectedtobebetween350,000and390,000ounces,whilesilverproductionisprojectedtobebetween20.5millionand22.5millionounces[7]MarketPerformance−WPMshareshaveincreasedby46.12 billion undrawn revolving credit facility [6] Future Outlook - For 2025, gold production is expected to be between 350,000 and 390,000 ounces, while silver production is projected to be between 20.5 million and 22.5 million ounces [7] Market Performance - WPM shares have increased by 46.1% over the past year, contrasting with a 6.4% decline in the industry [8] Peer Comparison - Royal Gold, Inc. reported an adjusted EPS of 1.51 for Q1 2025, a 66% year-over-year increase, while Kinross Gold Corporation posted adjusted earnings of 30 cents per share, missing the Zacks Consensus Estimate [11] - B2Gold Corp reported adjusted EPS of 9 cents for Q1 2025, beating estimates and showing a 50% year-over-year improvement [12]