A-Mark Precious Metals Reports $9.7B in Revenues

By Tamara Parker • Tuesday, September 03 07:58 • Permanent Link

A-Mark Precious Metals, Inc. (NASDAQ: AMRK) has reported its preliminary fiscal fourth quarter and full year 2024 results, showcasing the company's performance and strategic initiatives.

The company reported revenues of $9.7 billion for the full year 2024. The diluted earnings per share for the full year 2024 stood at $2.75, which includes a remeasurement gain. Excluding the remeasurement gain, the diluted earnings per share were $2.15. The company also reaffirmed its regular quarterly cash dividend of $0.20 per share.

In operational highlights for the fiscal fourth quarter of 2024, gold ounces sold decreased by 45% to 448,000 ounces compared to the same period in 2023. Silver ounces sold also decreased by 44% to 25.4 million ounces compared to the same period in 2023. However, the number of direct-to-consumer new customers saw a substantial increase, rising by 530% to 570,300 compared to the same period in 2023.

Looking at the fiscal full year 2024, gold ounces sold decreased by 31% to 1,839,000 ounces compared to the fiscal year ended June 30, 2023. Silver ounces sold also decreased by 31% to 108.1 million ounces compared to the fiscal year ended June 30, 2023. Despite the decline in ounces sold, direct-to-consumer new customers for the fiscal year ended June 30, 2024, increased by 114% to 718,500 compared to the fiscal year ended June 30, 2023.

CEO Greg Roberts expressed satisfaction with the company's performance, highlighting the continued strength and adaptability of their fully-integrated platform to generate profitable results even during slower market conditions. He also outlined the company's strategic investments and expansion plans, aiming to enhance shareholder value in the long term.

These results reflect the company's ability to navigate challenging market conditions and adapt its strategies to maintain profitability and drive growth. As a result of these announcements, the company's shares have moved 9.1% on the market, and are now trading at a price of $38.97. Check out the company's full 8-K submission here.

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