IAMGOLD beats by $0.06, beats on revs; Production and cost guidance for 2018 maintained
- Reports Q1 (Mar) earnings of $0.09 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus of $0.03; revenues rose 20.7% year/year to $314.5 mln vs the $291.41 mln Capital IQ Consensus.
- Maintain full-year attributable production and cost guidance for 2018. Production in the second quarter is expected to be at a lower level than the first quarter and to trend upwards from there in the second half of the year. While first quarter production benefited from planned mining in higher grade areas augmented by significant positive grade reconciliation at Essakane and Westwood, the second quarter is expected to reflect the impact of scheduled mill maintenance activities at Rosebel and Essakane and the seasonal rains at Rosebel. All-in sustaining costs are expected to move higher in the second quarter before trending downwards in the second half of the year
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