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First Majestic Announces Record Free Cash Flow for Q4 2024, FY 2024 Financial Results and Quarterly Dividend Payment
Vancouver, British Columbia--(Newsfile Corp. - February 20, 2025) - First Majestic Silver Corp. (...
About this update from First Majestic Silver Corp.
[{"type":"text","content":"First Majestic Announces Record Free Cash Flow for Q4 2024, FY 2024 Financial Results and Quarterly Dividend PaymentVancouver, British Columbia--(Newsfile Corp. - February 20, 2025) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the \"Company\" or \"First Majestic\") is pleased to announce the Company's audited consolidated financial results for the fourth quarter ended December 31, 2024. The full version of the financial statements and the accompanying management's discussion and analysis can be viewed on the Company's website at www.firstmajestic.com or under the Company's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar. All amounts are in U.S. dollars unless stated otherwise.FOURTH QUARTER HIGHLIGHTSRecord Free Cash Flow (+119% Q/Q): The Company realized $68.4 million in free cash flow in the fourth quarter, compared to $31.3 million in the previous quarter. The improvement in free cash flow was driven by improved silver equivalent (\"AgEq\") production, higher realized silver prices and lower costs during the quarter.Strengthened Cash Position (+19% Q/Q): At the end of the year, the Company had a cash and restricted cash balance of $308.3 million consisting of $202.2 million cash and cash equivalents and $106.1 million of restricted cash. The Company also ended the year with a strong liquidity position of $364.2 million consisting of $224.5 million in working capital and $139.6 million of available, undrawn revolving credit facility.Increased Revenue (+18% Q/Q): In the fourth quarter, the Company generated revenues of $172.3 million, up 18% compared to the third quarter of 2024. Improved Mine Operating Earnings (+69% Q/Q): The Company realized mine operating earnings of $48.2 million compared to $28.5 million in the previous quarter. Increased Earnings Before Income Tax, Depreciation and Amortization (\"EBITDA\") (+68% Q/Q): EBITDA for the quarter was $62.0 million compared to $36.9 million in the previous quarter.Improved Cash Cost (-9% Q/Q): Consolidated cash cost of $13.82 per AgEq ounce for the quarter represented a 9% improvement from $15.17 per AgEq ounce in the previous quarter. Decreased All-in Sustaining Cost (\"AISC\") (-3% Q/Q): Consolidated AISC in the fourth quarter was $20.34 per AgEq ounce, representing a 3% decrease from $21.03 per AgEq ounce in the previous quarter. Re...