ERO Q2 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025

Earnings

Ero Copper delivered a notably mixed second quarter for 2025, beating profit expectations by a wide margin while falling short on revenue as record copper output reshaped the company's operational profile. Adjusted EPS of $0.46 cleared the $0.34 cons… Read more Ero Copper delivered a notably mixed second quarter for 2025, beating profit expectations by a wide margin while falling short on revenue as record copper output reshaped the company's operational profile. Adjusted EPS of $0.46 cleared the $0.34 consensus estimate by 35.61%, while revenue of $163.51 million, up 39.6% year over year, trailed the $218.22 million consensus by 25.07%. The central story of the quarter was copper production, which reached a record 15,513 tonnes, a 75% jump from Q2 2024's 8,867 tonnes, fueled by the accelerating ramp-up at the Tucumã Operation alongside stronger grades at Caraíba. Tucumã's progress was significant enough that the company declared commercial production effective July 1, a transition that will shift capitalized ramp-up costs to the income statement starting in Q3. With copper attracting heightened investor interest amid proposed tariff-driven supply dynamics, Ero updated its full-year consolidated copper production guidance to 67,500 to 80,000 tonnes, while trimming Xavantina gold output guidance to 40,000 to 50,000 ounces, reflecting the operational realities of an earlier-than-expected plateau in Tucumã's ramp pace.