EarningsQ4 2024 Earnings Report

Mount Gibson Iron Limited (MTGRF) Q4 2024 Earnings Report

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Previous Report: Q2 2024

Next Report: Q2 2025

MTGRF Q4 2024 EPS Results

Actual EPS-$0.08

Consensus EPS―

Beat/Miss―

One Year Ago EPS>-$0.01

MTGRF Q4 2024 Revenue Results

Actual Revenue$188.98M

Expected Revenue―

Beat/Miss―

YoY Revenue Growth-14.54%

Earnings Announcement Details

QuarterQ4 2024

Date08/20/2024

TimeAfter Close

Conference CallTuesday, August 20, 2024

MTGRF Upcoming Earnings

Mount Gibson Iron Limited's next earnings date is estimated for February 23, 2027, based on past reporting schedules.

Q4 2024 Earnings Call Audio

MTGRF Q4 2024 Earnings Call

0:00 / 0:00

Q4 2024 Earnings Slide Deck

No slide deck is available for this earnings event.

Q4 2024 Earnings Call Summary

Q4 2024

Earnings Call Date:Aug 20, 2024|

% Change Since:

Earnings Call Sentiment|Neutral

Mount Gibson Iron had a strong financial performance for the full year with increased sales and a robust safety record. However, the June quarter was impacted by adverse pricing adjustments and volatile iron ore prices, leading to higher cash operating costs and reduced cash flow. The company is strategically investing in junior resources while preparing for temporary shipping reductions. Despite challenges, the company remains in a strong position for future cash flow generation.

Company Guidance

In the earnings call for Mount Gibson Iron's Q4 2024, CEO Peter Kerr highlighted the company's strong production and financial performance for the fiscal year, despite some challenges in the June quarter. Iron ore sales from Koolan Island increased by over 20% from the previous quarter, reaching 0.9 million wet metric tonnes with a 65.2% Fe grade, contributing to a full-year total of 4.1 million tonnes. However, cash flow for the June quarter was impacted by adverse provisional pricing adjustments, reducing net cash flow to $1 million from an operating cash flow of $30 million before adjustments. Full-year sales revenue was $670 million FOB, with an operating cash flow of $290 million. Kerr also noted that the company's cash and investment reserves grew significantly, reaching $436 million by the end of the June quarter. Additionally, safety performance improved, with a lost time injury frequency rate of 0 incidents per 1 million man-hours and a total recordable injury frequency rate decreasing to 4.4 incidents. Looking ahead, the company aims to ship 2.7 to 3 million tonnes in fiscal 2025, with a strategic focus on maximizing cash flow from Koolan Island and exploring new investment opportunities.

Increased Iron Ore Sales

Iron ore sales from Koolan Island increased by over 20% on the prior quarter to 0.9 million wet metric tonnes, with full year sales reaching 4.1 million tonnes.

Strong Financial Year Performance

Mount Gibson's financial performance was strong with group cash flow of $290 million before tax and working capital movements, and cash and investment reserves increased by $274 million over the financial year.

Safety Improvement

The 12-month lost time injury frequency rate remained at 0 incidents per 1 million man-hours worked, and the total recordable injury frequency rate reduced from 5.4 to 4.4 incidents per 1 million man-hours.

Strategic Investments

Increased investments in several junior resources companies with market value rising from $5 million in the March quarter to approximately $19 million at quarter end.

MTGRF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Feb 23, 2027	2027 (Q2)	- / -	-0.013	―
Aug 20, 2026	2026 (Q4)	- / >-0.01	-0.006	11.11% (<+0.01)
Feb 18, 2026	2026 (Q2)	- / -0.01	-0.043	70.00% (+0.03)
Aug 19, 2025	2025 (Q4)	- / >-0.01	-0.079	91.82% (+0.07)
Feb 18, 2025	2025 (Q2)	- / -0.04	0.082	-152.17% (-0.13)
Aug 20, 2024	2024 (Q4)	- / -0.08	-0.001	-5400.00% (-0.08)
Feb 20, 2024	2024 (Q2)	- / 0.08	0.004	1816.67% (+0.08)
Aug 22, 2023	2023 (Q4)	- / >-0.01	-0.065	97.78% (+0.06)
Feb 21, 2023	2023 (Q2)	- / <0.01	-0.039	110.91% (+0.04)
Aug 24, 2022	2022 (Q4)	- / -0.06	-0.006	-900.00% (-0.06)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed