Silver Wheaton Earnings: Record Earnings and Revenues

Silver Wheaton Corp. (NYSE:SLW) delivered record net earnings and revenues for the first quarter. Silver Wheaton purchases and sells by-product silver from operating mines. The Company has long term contracts to purchase all or a portion of the silver production from mines in Mexico, Sweden, Peru, Greece and the United States.

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Silver Wheaton Earnings Cheat Sheet for the First Quarter

Results: Net earnings increased 142% to a record $122.2 million ($0.35 per share), compared with $50.6 million ($0.15 per share) in Q1 2010.

Revenue: Rose 84% to a record $158.2 million YoY.

Actual vs. Wall St. Expectations: Earnings came in below average estimates for $0.42 a share (YahooFinance).

Key Stats: Operating cash flows increased 121% to a record $127.2 million ($0.36 per share1) compared with $57.6 million ($0.17 per share1) in Q1 2010.

Record attributable silver equivalent production of 6.2 million ounces (6.1 million ounces of silver and 2,900 ounces of gold), representing an increase of 10% over the comparable period in 2010.

Silver equivalent sales of 4.9 million ounces (4.8 million ounces of silver and 2,500 ounces of gold).

Competitors to Watch: Pan American Silver (NASDAQ:PAAS), SilverCorp Metals (NYSE:SVM), Silver Standard Resources (NASDAQ:SSRI), Hecla Mining Company (NYSE:HL), First Majestic Silver (NYSE:FR), and Coeur d’Alene Mines Corporation (NYSE:CDE).

Stock Performance: Shares of SLW are up 2.6%.


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