Kirkland Lake Gold Reports $551.8 Million In Revenue For Q1 2021

Kirkland Lake Gold Ltd. (TSX:KL) reported today its financial and operational results for Q1 2021, which highlighted revenue of $551.8 million. The results also included the previously announced production of 302,847 gold ounces for the quarter.

The company has previously reported that this quarter’s gold production exceeded the set guidance of 270,000 – 290,000. However, this quarter is both a decline from Q4 2020’s gold production of 369,434 ounces and from Q1 2020’s gold production of 330,864 ounces. 

The $551.8 million in revenue is also a decrease from the previous quarter’s revenue of $691.5 million and the previous year’s revenue of $554.7 million. Corollary, the $161.2 million net earnings for the quarter is a drop from last quarter’s $232.6 million and last year’s $202.9 million. The net earnings for the quarter yielded $0.60 in earnings per share.

Kirkland Lake also ended the quarter with $42.7 million free cash flow, a decline from $232.4 million last quarter and $130.9 million last year. It also ended Q1 2021 with $792.2 million in cash compared to last quarter’s $847.6 million.

At the end of Q1 2021, the company reported that its production results are on track with the previously announced full-year guidance of 1.3 – 1.4 million ounces.

You may see the full details of Kirkland Lake’s Q1 2021 financial and operational results here.

Kirkland Lake Gold Ltd. last traded at $47.11 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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