Coeur Mining (CDE) FY2022 results: revenue $786 million, down 5.7% on the year

Coeur Mining, Inc. (CDE) reported revenue of $786 million for fiscal 2022, the year ended 31 December 2022, down 5.7% on the year before. Net income was -$78 million, and diluted earnings per share $-0.28. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2023.

Revenue

$786 million

-5.7% on the year

FY2015FY2022

Operating margin

-5.0%

6.8% a year earlier

FY2015FY2022

Net income

-$78 million

FY2015FY2022

Diluted EPS

-$0.28

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	786	833	785	-5.7%
Operating income	-39.3	56.8	81.7
Operating margin	-5.0%	6.8%	10.4%
Interest expense	23.9	16.5	20.7	+45.0%
Pre-tax income	-63.4	3.6	62.7
Income tax	14.7	35.0	37.0	-58.1%
Effective tax rate	n/a	961.4%	59.1%
Net income	-78.1	-31.3	25.6
Net margin	-9.9%	-3.8%	3.3%
Diluted EPS	-$0.28	-$0.13	$0.11

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	25.6	110	149	-76.8%
Capital expenditure	352	310	99.3	+13.7%
Free cash flow	-327	-199	49.4
Free cash flow margin	-41.6%	-23.9%	6.3%
Cash from investing	-146	-304	-65.7
Cash from financing	125	158	-46.5	-20.9%
Depreciation and amortisation	112	128	131	-13.0%
Share-based compensation	10.0	13.7	8.5	-26.6%
Diluted shares, weighted	275m	250m	243m	+10.1%
Shares outstanding at period end	296m	257m	244m	+15.1%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	889	800	693	+11.1%
Debt	516	488	276	+5.8%
Operating lease liabilities	14.9	18.7	n/a	-19.9%
Finance lease liabilities	42.1	24.4	n/a	+72.7%
Other liabilities	384	404	435	-4.8%
Total liabilities and equity	1,846	1,734	1,404	+6.4%
Fixed assets	1,390	320	230	+334.3%
Investments	44.2	n/a	n/a
Cash and equivalents	61.5	56.7	92.8	+8.5%
Receivables	36.3	32.4	23.5	+12.1%
Inventory	61.8	51.3	51.2	+20.6%
Other assets	253	1,274	1,006	-80.2%
Total assets	1,846	1,734	1,404	+6.4%

10-K for the year ended 31 December 2022, filed 22 February 2023: the filing.