Wheaton Precious Metals First Quarter 2024 Earnings: Beats Expectations

Wheaton Precious Metals (TSE:WPM) First Quarter 2024 Results

Key Financial Results

• Revenue: US$296.8m (up 38% from 1Q 2023).

• Net income: US$164.0m (up 47% from 1Q 2023).

• Profit margin: 55% (up from 52% in 1Q 2023). The increase in margin was driven by higher revenue.

• EPS: US$0.36 (up from US$0.25 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Wheaton Precious Metals Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 10%.

Looking ahead, revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Metals and Mining industry in Canada.

Performance of the Canadian Metals and Mining industry.

The company's shares are up 4.2% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Wheaton Precious Metals' balance sheet health.

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