Quarterly-Results

Q4 2017 Conference Call

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Summary:

  • On a consolidated basis, full year metals production met or exceeded 2017 guidance ranges
  • Net profit of $99.7 million and basic and diluted earnings per share of $0.38 in the fourth quarter of 2017, compared to a net loss of $47.3 million and loss per share of $0.20 in the fourth quarter of 2016
  • Operating cash flow1 of $172 million in the fourth quarter of 2017, a 41% increase from the fourth quarter of 2016, and $531 million for the full year 2017, a 37% increase from 2016
  • Reduced net debt2 position by $462 million and improved liquidity during 2017; as at December 31, 2017, Hudbay had net debt of $623 million and total available liquidity of $778 million, including $356 million in cash 
  • Consolidated cash cost2, net of by-product credits, of $0.77 per pound of copper, a 9% decrease from the fourth quarter of 2016
  • Consolidated all-in sustaining cash cost2, net of by-product credits, of $1.49 per pound of copper in the fourth quarter of 2017, up 2% from $1.46 in the fourth quarter of 2016
  • Full year combined unit operating costs at Manitoba and Peru exceeded 2017 guidance ranges, primarily due to increased operating costs and lower than expected mill throughput; zinc unit operating costs were within the guidance range



 

1 Operating cash flow before change in non-cash working capital.

Cash cost and all-in sustaining cash cost per pound, net of by-product credits, and net debt are not recognized under IFRS. For a detailed description of each of these non-IFRS financial performance measures used, please see the discussion under “Non-IFRS Financial Performance Measures” beginning on page 6 of the Q4 2017 news release.

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