Antofagasta Posts $4.8B Revenue Beat, 52% EBITDA Surge, EPS $0.82
Antofagasta reported fourth-quarter EPS of $0.82 versus a $0.83 estimate and delivered $4.8 billion in revenue, topping forecasts by $100 million. Annual revenues climbed 30% to $8.62 billion, EBITDA surged 52% to $5.2 billion, and realized copper prices rose 18% to $4.93 per pound.
1. Quarterly Financial Results
In the fourth quarter, Antofagasta delivered EPS of $0.82, slightly below the $0.83 estimate, while generating $4.8 billion in revenue, surpassing analyst forecasts by $100 million. EBITDA for the period reached $5.2 billion, in line with consensus expectations.
2. Annual Growth and Price Realization
For the full year, revenues climbed 30% to $8.62 billion and EBITDA surged 52% to $5.2 billion, reflecting an 18% increase in average realized copper prices to $4.93 per pound.
3. Dividend and Valuation
The company more than doubled its declared dividend to 64.6 cents, though the final payout of 48 cents fell short of the 56.5 cent estimate, with a price-to-sales ratio of 6.56 indicating elevated investor expectations.
4. Outlook and Balance Sheet Strength
Antofagasta maintains a $3.4 billion capital expenditure guidance, funding projects like the $4.4 billion Centinela concentrator and $2 billion Los Pelambres expansion to boost output 30%, while preserving a 0.65 debt-to-equity ratio and a 3.62 current ratio.