Coeur Mining, Inc. (NYSE:CDE) Q3 2024 Earnings Conference Call November 7, 2024 11:00 AM ET
Company Participants
Mitchell Krebs – Chairman, President and Chief Executive Officer
Michael Routledge – Senior Vice President and Chief Operating Officer
Thomas Whelan – Senior Vice President and Chief Financial Officer
Conference Call Participants
Joseph Reagor – ROTH Capital Partners
Operator
Good day, and welcome to the Coeur Mining Third Quarter 2024 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions]. Please note this event is being recorded.
I would now like to turn the conference over to Mitch Krebs, President and CEO. Please go ahead.
Mitchell Krebs
Good morning, everyone and thanks for joining our call today to discuss our third quarter results. Before we start, we want to quickly point out our cautionary language regarding forward-looking statements in today’s slide deck and refer you to our SEC filings on our website.
I’ll start off with a few comments, starting on Slide 3, before turning the call over to Mick and Tom. We obviously had a very strong quarter which represented the free cash flow inflection point that we’ve been anticipating. Our strong results were driven by production increases at our four operations, higher gold and silver prices, and double-digit declines in our cost per ounce. This Goldilocks environment led to double-digit quarter-over-quarter and year-over-year increases and multiyear highs in quarterly revenue, adjusted EBITDA, net income and free cash flow. We applied most of the free cash flow to paying down $50 million of our revolving credit facility.
Together with LTM adjusted EBITDA now approaching $300 million. We’re now seeing our leverage ratios quickly drop as we delever the balance sheet. Tom will go in a bit more detail on our balance sheet plans and priorities in a few minutes. Adding to our momentum
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