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Silver Wheaton Corp. Message Board

  • jwoodward3 Nov 10, 2013 7:21 PM Flag

    earnings release

    does anyone know what time earnings will be released Monday?

    Sentiment: Hold

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    • Earnings have been released : Q3 EPS 0.22 in-line, Revenue $166.4M (+3%Y/Y)

      • 1 Reply to sami0418
      • Silver Wheaton Reports Record Production for the Third Quarter and First Nine Months of 2013


        TSX: SLW
        NYSE: SLW

        VANCOUVER, Nov. 11, 2013 /CNW/ - Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX:SLW) (NYSE:SLW) is pleased to announce its unaudited results for the third quarter ended September 30, 2013. All figures are presented in United States dollars unless otherwise noted.


        • Record attributable silver equivalent production for the three months ended September 30, 2013 of 8.9 million ounces (6.8 million ounces of silver and 34,800 ounces of gold), compared to 7.6 million ounces in Q3 2012, representing an increase of 17%.

        • Attributable silver equivalent sales for the three months ended September 30, 2013 of 7.8 million ounces (5.7 million ounces of silver and 35,300 ounces of gold), compared to 5.1 million ounces in Q3 2012, representing an increase of 52%.

        • Revenues of $166.4 million compared with $161.3 million in Q3 2012, representing an increase of 3%.

        • Average realized sale price per silver equivalent ounce sold for the three months ended September 30, 2013 of $21.26 ($21.22 per ounce of silver and $1,308 per ounce of gold), representing a decrease of 32% as compared to the comparable period of 2012.

        • Net earnings of $77.1 million ($0.22 per share) compared with $119.7 million ($0.34 per share) in Q3 2012, representing a decrease of 36%.

        • Operating cash flows of $118.7 million ($0.33 per share¹) compared with $128.7 million ($0.36 per share1) in Q3 2012, representing a decrease of 8%.

        • Cash operating margin1 of $16.53 per silver equivalent ounce compared with $27.20 in Q3 2012.

        • Average cash costs1 were $4.13 and $386 per ounce of silver and gold, respectively. On a silver equivalent basis, average cash costs1 rose to $4.73 compared with $4.16 in Q3 2012, due primarily to an increase in the percentage of revenue from gold sales.

        • Declared quarterly dividend of $0.09 per common share as the result of the Company's dividend policy whereby the quarterly dividend is equal to 20% of the average of the previous four quarters' operating cash flow.

        • Subsequent to quarter end, the Company announced an amendment to the precious metal purchase agreement with Hudbay Minerals Inc. ("Hudbay") to include the acquisition of an amount equal to 50% of the gold production from the Constancia project ("Constancia") in Peru for the life of mine.

        • Subsequent to quarter end, Barrick Gold Corp. ("Barrick") announced it will temporarily suspend construction activities at its Pascua-Lama project ("Pascua-Lama"), except those required for environmental protection and regulatory compliance. As a result, Silver Wheaton agreed to amend its silver purchase agreement to extend the Company's entitlement to 100% of the production from three of Barrick's currently producing mines by one year until the end of 2016, and to extend the completion test deadline an additional year to the end of 2017.

        •Silver Wheaton recently revised 2017 guidance to reflect recent developments as stated in the Company's November 4, 2013 news release. 2017 guidance is now forecast to be 42.5 million silver equivalent ounces2 including 210,000 ounces of gold. Silver Wheaton's 2013 silver equivalent production is still expected to exceed 33.5 million ounces2 including 145,000 ounces of gold.

        •Silver Wheaton announces the appointment of Chantal Gosselin to the Board of Directors

    • 12:30 GMT Nov 11

    • Before the bell..

    • Before the bell.

26.78+0.07(+0.26%)Jul 28 4:03 PMEDT

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