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Ero Copper First Quarter 2023 Earnings: EPS Beats Expectations, Revenues Lag

Ero Copper (TSE:ERO) First Quarter 2023 Results

Key Financial Results

  • Revenue: US$101.0m (down 7.3% from 1Q 2022).

  • Net income: US$24.2m (down 54% from 1Q 2022).

  • Profit margin: 24% (down from 48% in 1Q 2022). The decrease in margin was primarily driven by higher expenses.

  • EPS: US$0.26 (down from US$0.58 in 1Q 2022).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Ero Copper EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 2.1%.

Looking ahead, revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Metals and Mining industry in Canada.

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Performance of the Canadian Metals and Mining industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Be aware that Ero Copper is showing 2 warning signs in our investment analysis and 1 of those is significant...

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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