Wheaton Precious Metals Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended March 2024, Wheaton Precious Metals Corp. WPM reported revenue of $296.81 million, up 38.4% over the same period last year. EPS came in at $0.36, compared to $0.23 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $284.64 million, representing a surprise of +4.28%. The company delivered an EPS surprise of +24.14%, with the consensus EPS estimate being $0.29.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Wheaton Precious Metals performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Ounces Produced - Total Silver: 5,476 Oz compared to the 4,554.22 Oz average estimate based on nine analysts.
• Ounces Produced - Total Gold: 93.37 Oz versus the nine-analyst average estimate of 85.77 Oz.
• Ounces Produced - Palladium - Stillwater: 4.46 Oz versus the nine-analyst average estimate of 4.8 Oz.
• Ounces Sold - Silver: 4,067 Oz versus 4,234.72 Oz estimated by nine analysts on average.
• Revenues- Cobalt sales: $4.78 million compared to the $3.49 million average estimate based on seven analysts. The reported number represents a change of -1.5% year over year.
• Revenues- Silver sales: $96.66 million compared to the $97.88 million average estimate based on six analysts. The reported number represents a change of +12.8% year over year.
• Revenues- Palladium sales: $4.68 million compared to the $3.94 million average estimate based on six analysts. The reported number represents a change of -1.2% year over year.
• Revenues- Gold sales: $190.69 million compared to the $184.78 million average estimate based on six analysts. The reported number represents a change of +60% year over year.
• Revenues- Gold - San Dimas: $16.45 million versus $19.24 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -18.9% change.
• Revenues- Gold - Salobo: $117.85 million versus the five-analyst average estimate of $114.98 million. The reported number represents a year-over-year change of +72.1%.
• Revenues- Silver - Antamina: $18.09 million versus the five-analyst average estimate of $21.40 million. The reported number represents a year-over-year change of -2.7%.
• Revenues- Gold - Stillwater: $4.88 million compared to the $5.68 million average estimate based on four analysts. The reported number represents a change of +22.5% year over year.

Shares of Wheaton Precious Metals have returned +5.9% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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