Goldcorp beats by $0.02, beats on revs; raises production, lowers cost guidance
- Reports Q2 (Jun) earnings of $0.08 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $0.06; revenues rose 18.0% year/year to $1.32 bln vs the $1.07 bln consensus.
- Second quarter gold sales were 903,000 ounces on production of 908,000 ounces, compared to sales of 639,500 ounces on production of 648,700 ounces in the second quarter of 2014. Silver production totaled 10.4 million ounces compared to 9.0 million ounces in the prior year's second quarter. All-in sustaining costs were $846 per ounce of gold in the second quarter of 2015 compared to $852 per ounce in the second quarter of 2014.
- Company expects to be at the high end of 2015 production guidance of between 3.3 and 3.6 million gold ounces. All-in sustaining cost guidance has been reduced to between $850 and $900 per gold ounce compared to prior guidance of between $875 and $950 per gold ounce.