Largo Reduces Operating Costs by 31% in Q3 2024 Financial Results; Maintains Leading Cost Position in Global Vanadium Sector
Largo Inc. - Common Shares (LGO)
Company Research
Source: Business Wire
All amounts expressed are in U.S. dollars, denominated by “$”.Q3 2024 and Other HighlightsRevenues of $29.9 million in Q3 2024 ($27.2 million from vanadium sales and $2.7 million from ilmenite sales) vs. revenues of $44.0 million from vanadium sales in Q3 2023Revenues per lb sold1 of V2O5 equivalent of $6.28 in Q3 2024 vs. $8.34 in Q3 2023; Decline in revenues was largely driven by a lower vanadium price environment and lower vanadium sales volumesOperating costs were $29.5 million in Q3 2024, a 31% reduction compared to $42.6 million in Q3 2023; Cash operating costs excluding royalties1 per pound sold of $3.12 in Q3 2024, a 43% reduction compared to the $5.44 per lb sold in Q3 2023Mining operations adjusted EBITDA1 of $2.4 million in Q3 2024 vs. mining operations adjusted EBITDA1 of $2.7 million in Q3 2023Net loss of $10.1 million (including $3.3 million in non-recurring items) in Q3 2024, a 15% improvement over the net loss of $11.9 million (including $2.5 million in non-recurring i
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News
- Largo Inc (LGO) Q3 2024 Earnings Call Highlights: Record Vanadium Production and Strategic ... [Yahoo! Finance]Yahoo! Finance
- Largo Inc. (NYSE: LGO) had its price target lowered by analysts at HC Wainwright from $4.40 to $4.20. They now have a "buy" rating on the stock.MarketBeat
- Largo Resources Basic GAAP EPS of -$0.16, revenue of $29.9M [Seeking Alpha]Seeking Alpha
- Largo Reduces Operating Costs by 31% in Q3 2024 Financial Results; Maintains Leading Cost Position in Global Vanadium Sector [Yahoo! Finance]Yahoo! Finance
- Largo to Release its Third Quarter 2024 Financial Results on Tuesday, November 12, 2024Business Wire
LGO
Analyst Actions
- 10/22/24 - HC Wainwright
LGO
Sec Filings
- 11/13/24 - Form 6-K
- 11/12/24 - Form 6-K
- 10/31/24 - Form 6-K
- LGO's page on the SEC website