Hecla Mining reports Q3 EPS 15c, consensus 9c

Reports Q3 revenue $409.5M, two estimates $324.1M. Rob Krcmarov, CEO, said, “Our third quarter results represent a defining moment for Hecla, with record-breaking performance across a number of key financial metrics. We achieved quarterly revenues of $410 million, net income of $101 million, and Adjusted EBITDA of $196 million, all records in the Company’s 134 year history. Perhaps our most significant accomplishment is our substantial balance sheet transformation – our net leverage ratio has decreased to just 0.3x, the revolving credit facility is fully repaid, we repaid the Investissement Quebec notes and our cash and cash equivalents position has grown to $134 million. During the quarter we achieved $90 million in free cash flow which is a genuine inflection point in our financial flexibility, strengthening our financial position. Operationally, all four producing assets contributed to positive free cash flow for the second consecutive quarter. Greens Creek continues to exceed expectations, Keno Hill has delivered three consecutive quarters of profitability under our ownership, Lucky Friday maintained consistent production while advancing the surface cooling project, and Casa Berardi’s cost trajectory is improving. This validates both the quality of our asset base and the skill of our operating teams. We continue to make significant progress on our strategic priorities including operational excellence, balance sheet strength, and value creation for shareholders, which has led to these results.”