Q4 2024 A-Mark Precious Metals Inc Earnings Call Transcript
Key Points
- A-Mark Precious Metals Inc (AMRK) reported $66.2 million of net income and diluted EPS of $2.75 per share for fiscal year 2024.
- The company generated $89.9 million in non-GAAP EBITDA, excluding the remeasurement gain.
- A-Mark Precious Metals Inc (AMRK) ended the fiscal year with over 3 million direct-to-consumer customers, reflecting the benefits of strategic investments.
- The company repurchased $22.4 million of its common stock, enhancing shareholder value.
- A-Mark Precious Metals Inc (AMRK) is advancing logistics automation initiatives at its AMGL facility in Las Vegas to support increased volume and lower operational costs.
- Revenues for Q4 fiscal 2024 decreased 19% to $2.52 billion from $3.12 billion in Q4 of last year.
- Gross profit for Q4 fiscal 2024 decreased 45% to $43 million from $78.6 million in Q4 of last year.
- SG&A expenses for the full fiscal year increased 5% to $89.8 million from $85.3 million in the prior fiscal year.
- Interest expense for the full fiscal year increased 25% to $39.5 million from $31.5 million last fiscal year.
- Earnings from equity method investments in Q4 fiscal 2024 decreased 86% to $0.8 million from $5.3 million in Q4 of last year.
Good afternoon, and welcome to A-Mark Precious Metals conference call for the fiscal fourth quarter and full year ended June 30, 2024. My name is John, and I will be your operator this afternoon. Before this call, A-Mark issued its preliminary results for the fiscal fourth quarter and full year 2024 in a press release, which is available on the Investor Relations section of the company's website at www.amark.com. You can find the link to the Investor Relations section at the top of the homepage.
The company's results are preliminary because the company has not yet concluded its review of the valuation and related purchase accounting surrounding the increase in its investment in Silver Gold Bull, Inc. The results presented include an estimate which management believes is reasonable of the amount of the remeasurement gain associated with the SGB transaction. The remeasurement gain may be adjusted once the company finalizes its review, but management does not expect any such adjustment to exceed $5 million.
Such adjustment if it
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