Silvercorp Metals Inc. (SVM:CA) Q1 2027 Earnings Call Transcript

Silvercorp Metals Inc. ( SVM:CA ) Q1 2027 Earnings Call August 11, 2026 12:00 PM EDT

Lon Shaver - President

Kevin O'Halloran - BMO Capital Markets Equity Research

Joseph Reagor - ROTH Capital Partners, LLC, Research Division

Matthew O’Keefe

Thank you for standing by. Good afternoon. My name is Ina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Silvercorp First Quarter Fiscal 2027 Financial Results Conference Call.

I would now like to turn the conference over to Lon Shaver, President of Silvercorp. Please go ahead.

Lon Shaver President Thank you, Ina. On behalf of Silvercorp, I'd like to thank everyone for joining this call today to discuss our Q1 fiscal 2027 financial results, which were released yesterday afternoon.

Copies of the news release, the MD&A and the financial statements are available on SEDAR+.

Before we start, please note that certain statements on today's call will contain forward-looking information within the meaning of securities laws.

Also, please review the cautionary statements in our news release as well as the risk factors described in our most recent regulatory filings.

So let's start with our financial results.

We delivered a strong first quarter despite the temporary production slowdown at our Chinese operations that's related to the safety upgrades that began in June.

Revenue rose 70% year-over-year to $139 million, while cash flow from operating activities and free cash flow reached nearly $62 million and $29 million, respectively, and that was up 28% and 27% from the prior year.

This performance was mainly driven by a 135% increase in the realized selling price of silver, which averaged above $69 an ounce after smelter deductions.

And silver accounted for 77% of our revenue in Q1.

We reported a net income of $59.4 million for