Yahoo Finance Comstock Inc. (AMEX:LODE) Q1 2024 Earnings Call Transcript
Comstock Inc. (AMEX:LODE) Q1 2024 Earnings Call Transcript April 30, 2024
Comstock Inc. misses on earnings expectations. Reported EPS is $-0.05892 EPS, expectations were $-0.04. LODE isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Trevor Brucato: Good morning, ladies and gentlemen. Welcome to Comstock's First Quarter 2024 Results and Business Update. This is Trevor Brucato with RB Milestone Group. Comstock's U.S. based Investor Relations firm. I'd first like to thank everyone for joining at this earlier start time as we were trying to accommodate different time zones during this cycle. This presentation is being recorded today, April 30, 2024 and will be made available on the company's website at Comstock, Inc. shortly after today's event. Again, that's comstock.inc. Comstock trades on the New York Stock Exchange under the symbol LODE and joining us today is the company's Executive Chairman and CEO, Corrado De Gasperis, and its COO, William McCarthy. At the end of the prepared remarks, we will open up the call to questions that were submitted during the registration process and those that surface throughout this presentation.
If you have any questions, you could submit them in the Zoom Q&A module. Please note that the investor surveying period for Comstock's Q2 stakeholder perception analysis report is now open. The survey can now be accessed on Comstock's website at the top of the Investors section. We recommend filling out the survey throughout this presentation while the information is still fresh and completing it after receiving the full update provided by Corrado and Billy. The final report will ultimately provide trends on Comstock's perceived strengths, weaknesses and milestones and will be published shortly after the end of the quarter like we've done previously. Your participation will be much appreciated as it will help strengthen Comstock's investor communications efforts and will help guide the focus of future events.
Please note today's presentation may contain forward-looking statements that are subject to risks and uncertainties that may be out of the control of the company, in this case Comstock, Inc. And it should not be construed as a recommendation or solicitation to buy or sell any security. For Comstock's full disclaimer, please visit their website at comstock.inc. Lastly, RB Milestone is not a registered investment advisor or broker dealer. For more information on us, please visit rbmilestone.com. And now, it is my pleasure to introduce you to Comstock's Executive Chair and CEO, Corrado De Gasperis. Corrado, the stage is yours.
Corrado De Gasperis: Thanks Trevor, and hello everyone, and welcome to our first quarter update. I'm going to allocate a little more time this morning to our strategic investments and innovations, then cover fuels, metals and mining. And after my comments, Billy's going to provide a deeper insight into our now operating solar panel recycling business, including our view of the markets, operations, tactics and importantly, provide real guidance on the robust amount of net cash flow that we now expect metals to generate in just a few years. After that, we'll turn to questions. Okay, let me start with the corporate update. Again, focusing on our strategic investments and how their own progress positively impacts both us and their own valuations before I then turn to our businesses.
From a corporate perspective, financially, our first quarter itself was very stable, with spending in line with plan and prior periods. Although, the mix reflects a higher allocation to investments in R&D and particularly investments in our technology partners. Our commitment to higher R&D investments like RenFuel, GenMat and now certain others are all based directly on specific opportunities that we have identified and now secured that further extend our leadership in this massive energy transition. The investments were also structured such that we could experience returns beyond just the direct impact that they may have on our businesses. RenFuel is a great example. We have now executed both an exclusive license for their technology in the Americas and just last week, completed the investment agreement with RenFuel effectively combining the power of our IP portfolio with theirs and bringing this world-class technology and team tightly into our innovation network.
See also
15 Countries with English as Official Language in the World and
15 Best Cheap Stocks To Buy For 2024.
To continue reading the Q&A session, please click here.
