Wheaton Precious Metals (WPM) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 6, 2022 11:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Wheaton Precious Metals 2022 First Quarter Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] Thank you. I would like to remind everyone that this conference is being recorded on Friday, May 6, 2022, 11 a.m. Eastern Standard Time.

I would like to now turn the conference over to Mr. Patrick Drouin, Senior Vice President of Investors Relations. Please go ahead.

Patrick Drouin

Thank you, operator. Good morning, ladies and gentlemen, and thank you for participating in today’s call. I’m joined today by Randy Smallwood, Wheaton President -- Wheaton Precious Metals President and Chief Executive Officer; Gary Brown, Senior Vice President and Chief Financial Officer; Haytham Hodaly, Senior Vice President, Corporate Development; and Wes Carson, Vice President of Mining Operations.

Please note that for those not currently on the webcast the slide presentation accompanying this conference call is available in PDF format on the Presentations page.

I’d like to bring to your attention that some of the commentary in today’s call may contain forward-looking statements and I would like to direct everyone to review slide two of the presentation, which contains important cautionary notes regarding forward-looking statements.

It should be noted that all figures referred to on today’s call are in U.S. dollars unless otherwise noted. In addition, reference to Wheaton or Wheaton Precious Metals on this call, include Wheaton Precious Metals Corp. and/or its wholly-owned subsidiaries, as applicable.

Now, I’d like to turn the call over to Randy Smallwood, our President and Chief Executive Officer.

Randy Smallwood

Thank you, Patrick, and good morning, ladies and gentlemen. Thank you for joining us today to discuss Wheaton’s first quarter results of 2022. I am pleased to announce that Wheaton is off to a good start in 2022. Our portfolio continues to deliver strong results, including solid revenue, earnings and cash flow for the first three months of 2022, as Gary will discuss later.

These results were driven by solid first quarter production that positioned us well for achieving our previously announced annual guidance for 2022 of 700,000 gold equivalent ounces to 760,000 gold equivalent ounces. This solid performance reflects the underlying strength of our diversified high-quality portfolio. And our portfolio continues to grow, as the first quarter was once again very busy on the corporate development front.