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LODE NYSE AM· Comstock Inc.
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LODE NYSE AM· Comstock Inc.
Earnings report Q4 2023

LODE Reports Mixed Performance in Latest Quarter with Declining Revenue

Segments of revenue

In the latest quarter, LODE reported total revenue of $1.27 billion. The breakdown of revenue by segment is as follows:

  • Fuels: $0
  • Metals: $0
  • Mining: $1.01 billion
  • Strategic Investments: $237.5 million
  • Corporate/Other: $22.2 million

Strengths

The company's mining segment showed significant strength, contributing the majority of the revenue with $1.01 billion. This indicates a strong performance in the mining operations. Additionally, the strategic investments segment generated $237.5 million in revenue, suggesting successful investments made by the company.

Challenges

LODE faced challenges in the fuels and metals segments as both reported zero revenue in the latest quarter. This indicates potential difficulties or underperformance in these areas. The company also reported a loss from operations in the mining segment, amounting to $1.28 billion, which is a weakness in their financial performance.

Noteworthy

It is worth noting that LODE reported a gain of $25.03 billion on investments, which significantly contributed to their net income of $10.53 billion. This gain on investments could be a result of successful investment strategies or favorable market conditions.

Summary

LODE's latest quarter performance showed mixed results. While the mining segment performed well, generating $1.01 billion in revenue, the fuels and metals segments reported no revenue. The company faced challenges with a loss from operations in the mining segment. However, LODE's net income was positively impacted by a significant gain on investments, amounting to $25.03 billion. Overall, LODE's performance in the latest quarter reflects a need for improvement in certain segments while highlighting the potential of their strategic investments.

Source documents

Form 10-K  filed on Feb 27, 2024
93 pages scanned

Reference data

Company financials Q4 revenue 447.7k
Analyst estimates Q4 EPS beat by 1,209.50%
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