Labrador Iron Ore Royalty GAAP EPS of C$0.68, revenue of C$47.21M
May 05, 2023 1:43 AM ETLabrador Iron Ore Royalty Corporation (LIFZF), LIF:CABy: Meghavi Singh, SA News Editor
- Labrador Iron Ore Royalty press release (OTCPK:LIFZF): Q1 GAAP EPS of C$0.68.
- Revenue of C$47.21M (-12.8% Y/Y).
- The adjusted cash flow per share for the first quarter of 2023 was $0.41 per share, which was 13% lower than in the same period in 2022 and 37% lower than the fourth quarter of 2022, as LIORC received a dividend in the amount of $15.4 million from IOC in the fourth quarter of 2022.
- Outlook: Rio Tinto's 2023 guidance for IOC's saleable production remains at 17.9 million to 19.6 million tonnes. This compares to 17.6 million tonnes of saleable production in 2022. IOC continues to focus on upgrading its capital assets through increased capital expenditures. As reported in the 2022 Annual Report, IOC's capital expenditures for 2023 are forecasted to be C$534 million, up from C$460 million in 2022 and C$498 million in 2021. These capital expenditure initiatives will benefit LIORC as both an equity holder and a royalty holder.