Hecla Mining (HL) Q2 FY2024 earnings: revenue $246 million, up 37.9% on the year

Hecla Mining Co. (HL) reported revenue of $246 million for Q2 FY2024, the quarter ended 30 June 2024, up 37.9% on the same quarter a year earlier. Net income was $28 million, and diluted earnings per share $0.04. The figures are the company's own, from the 10-Q it filed with the SEC on 7 August 2024.

Revenue$246 millionup 37.9%

Net income$28 million

Diluted EPS$0.04

QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	246	190	n/a	n/a
Cost of revenue	194	170	n/a	n/a
Gross profit	51.4	19.2	n/a	n/a
Gross margin	20.9%	10.1%	n/a
Operating income	40.6	5.1	n/a	n/a
Operating margin	16.5%	2.7%	n/a
Interest expense	12.5	12.6	n/a	n/a
Pre-tax income	37.0	-3.9	n/a	n/a
Income tax	9.1	1.8	n/a	n/a
Effective tax rate	24.6%	n/a	n/a
Net income	27.9	-5.8	n/a	n/a
Net margin	11.3%	-3.0%	n/a
Diluted EPS	$0.04	-$0.01	n/a	n/a

$ 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 and capital returned

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Operating cash flow	78.7	17.1	n/a	n/a
Capital expenditure	50.4	47.6	n/a	n/a
Free cash flow	28.3	-30.5	n/a	n/a
Free cash flow margin	11.5%	-16.1%	n/a
Cash from investing	-49.3	-47.5	n/a	n/a
Cash from financing	-84.5	4.9	n/a	n/a
Depreciation and amortisation	53.9	51.2	n/a	n/a
Share-based compensation	3.0	1.2	n/a	n/a
Buybacks	0.0	1.2	n/a	n/a
Dividends paid	4.0	4.0	n/a	n/a
Dividend per share	$625.00	$625.00	n/a	n/a
Diluted shares, weighted	622m	616m	n/a	n/a
Shares outstanding at period end	630m	626m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	1,980	1,959	n/a	n/a
Debt	583	662	n/a	n/a
Other liabilities	377	373	n/a	n/a
Total liabilities and equity	2,940	2,994	n/a	n/a
Fixed assets	2,658	2,663	n/a	n/a
Cash and equivalents	24.6	80.2	n/a	n/a
Receivables	30.2	30.5	n/a	n/a
Inventory	44.8	37.4	n/a	n/a
Other assets	182	183	n/a	n/a
Total assets	2,940	2,994	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	182	161	190	246	245	250	261	304	410	448	411	334
Cost of revenue	148	154	170	194	186	181	187	185	229	200	158	n/a
Gross profit	33.5	6.9	19.2	51.4	59.3	68.3	74.0	120	180	248	253	180
Gross margin	18%	4%	10%	21%	24%	27%	28%	39%	44%	55%	62%	54%
Operating income	-12.6	-42.4	5.1	40.6	22.5	38.1	52.4	93.8	149	220	223	146
Operating margin	-7%	-26%	3%	17%	9%	15%	20%	31%	36%	49%	54%	44%
Interest expense	10.7	12.1	12.6	12.5	10.9	-85.9	11.4	10.9	13.4	-77.6	5.7	2.4
Pre-tax income	-23.9	-48.6	-3.9	37.0	13.2	20.0	45.0	90.3	156	188	216	137
Tax rate	n/a	n/a	n/a	25%	87%	40%	36%	36%	35%	29%	24%	14%
Net income	-22.4	-42.9	-5.8	27.9	1.8	11.9	28.9	57.7	101	134	-19.0	118
Net margin	-12%	-27%	-3%	11%	1%	5%	11%	19%	25%	30%	-5%	35%
Diluted EPS	-$0.04	-$0.07	-$0.01	$0.04	$0.00	$0.02	$0.05	$0.09	$0.15	$0.20	-$0.03	$0.17
Operating cash flow	10.2	0.9	17.1	78.7	55.0	67.5	35.7	162	148	217	194	175
Capital expenditure	55.4	62.6	47.6	50.4	55.7	60.8	54.1	58.0	57.9	82.3	39.3	39.1
Free cash flow	-45.1	-61.7	-30.5	28.3	-0.7	6.7	-18.4	104	90.1	135	155	136
Buybacks	0.0	0.0	1.2	0.0	0.0	0.0	0.0	0.9	0.0	0.0	1.2	3.4
Dividends paid	3.9	4.0	4.0	4.0	8.7	8.6	2.5	2.5	2.7	2.7	2.8	2.5
Shares outstanding	618m	625m	626m	630m	637m	632m	633m	670m	670m	670m	671m	672m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 7 August 2024, accession 0000950170-24-092450: the filing on EDGAR. All of Hecla Mining Co.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install