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ERO

Ero Copper Corp.

ERO

Ero Copper Corp. • NYSE
$25.37 ▲ 4.92% (+1.19)
Market Cap $2.63 B
52w High $25.78
52w Low $9.30
Dividend Yield 0%
P/E 19.08
Volume 1.75M
Outstanding Shares 103.52M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $177.092M ▲ $20.392M ▲ $35.978M ▼ 20.316% ▼ $0.34 ▼ $101.682M ▼
Q2-2025 $163.51M ▲ $19.32M ▲ $70.548M ▼ 43.146% ▼ $0.68 ▼ $109.956M ▼
Q1-2025 $125.088M ▲ $13.386M ▲ $80.227M ▲ 64.136% ▲ $0.77 ▲ $114.551M ▲
Q4-2024 $122.539M ▼ $387K ▼ $-48.944M ▼ -39.942% ▼ $-0.47 ▼ $-34.071M ▼
Q3-2024 $124.837M $19.853M $40.857M 32.728% $0.4 $71.716M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $66.192M ▼ $1.874B ▲ $983.862M ▲ $884.276M ▲
Q2-2025 $68.303M ▼ $1.772B ▲ $943.491M ▼ $823.297M ▲
Q1-2025 $80.573M ▲ $1.686B ▲ $967.016M ▲ $713.89M ▲
Q4-2024 $50.402M ▲ $1.458B ▼ $866.954M ▲ $587.131M ▼
Q3-2024 $20.229M $1.513B $795.753M $711.896M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $35.579M ▼ $97.526M ▲ $-79.901M ▼ $-13.607M ▲ $-2.263M ▲ $23.851M ▲
Q2-2025 $71.028M ▼ $90.256M ▲ $-70.514M ▼ $-33.575M ▼ $-12.27M ▼ $18.977M ▲
Q1-2025 $80.627M ▲ $65.44M ▲ $-59.022M ▲ $22.991M ▼ $30.171M ▼ $5.901M ▲
Q4-2024 $-48.928M ▼ $60.797M ▲ $-76.391M ▲ $48.339M ▲ $30.173M ▲ $-15.931M ▲
Q3-2024 $41.367M $52.675M $-77.364M $-1.043M $-24.544M $-25.156M

Five-Year Company Overview

Income Statement

Income Statement Ero Copper’s revenue has been fairly steady over the last few years, but profit margins have come down from the very strong levels seen earlier in the period. The company has moved from solid profitability to a recent net loss, suggesting a combination of higher costs, ramp-up effects from new projects, or softer realized prices. Operating earnings are still positive, which means the core mines are generating value, but the sharp drop in cash-style earnings and the swing to a net loss point to pressure from inflation, higher depreciation, or start‑up and financing costs. Overall, the business looks economically sound but currently in a more investment-heavy, lower-margin phase than in its peak years.

Balance Sheet

Balance Sheet The balance sheet shows a company that has grown its asset base significantly, likely due to major project development and expansion. This has been funded with a mix of more debt and growing equity, shifting the profile from a very lightly leveraged miner to one that now uses borrowing more actively. Cash on hand is modest relative to the size of the business, so liquidity management and access to funding lines matter. On the positive side, book equity has increased over time, suggesting that past profits and capital raises have strengthened the underlying capital base, but higher debt levels increase sensitivity to both interest costs and operational hiccups.

Cash Flow

Cash Flow Ero Copper consistently generates positive cash from operations, which means the mines themselves are producing cash in a reliable way. However, the company has been spending heavily on new projects and growth, so free cash flow has been negative in most recent years. This pattern is typical of a miner in a build‑out phase: strong operating cash is being plowed back into expansion, rather than dropping to the bottom line or the balance sheet. The key watchpoint is whether these large capital investments translate into a clear step‑up in future cash generation once the new operations fully ramp up.

Competitive Edge

Competitive Edge Ero Copper’s edge comes from a combination of high‑grade Brazilian copper assets, a focus on low‑cost operations, and a relatively low carbon footprint thanks to access to cleaner power. High-grade ore gives it a natural cost advantage versus many peers and can provide resilience when copper prices are volatile. Its strong ESG positioning and local expertise in Brazil also help secure permits, community support, and investor interest. On the other hand, the business is concentrated in one country and heavily exposed to the copper cycle, so it is more sensitive to local regulatory shifts and global copper price swings than a more diversified global miner would be.

Innovation and R&D

Innovation and R&D The company is not a lab‑style R&D story but instead innovates through how it runs its mines. It applies modern technologies such as automation, data analytics, and real‑time monitoring to improve safety, efficiency, and ore recovery, squeezing more value out of its deposits. Ero Copper also leans into sustainability innovation: using Brazil’s cleaner power grid, improving water and waste practices, and working within recognized ESG frameworks. On top of that, its exploration work and project pipeline, like the ramp‑up at Tucumã and further drilling at Furnas, are central to its long‑term “innovation” in the sense of finding and developing the next generation of resources.

Summary

Ero Copper looks like a growth‑oriented copper producer that has shifted from a high‑margin, cash‑generating phase into a heavy investment cycle. The mines still produce solid operating cash, but large project spending and higher financing costs have weighed on recent earnings and free cash flow. Its main strengths are high‑grade, relatively low‑cost copper assets, strong ESG credentials, and a clear pipeline of projects that could lift production over time. Key risks center on elevated capital spending, higher leverage, execution on new operations, and exposure to copper price and Brazilian country risk. Overall, this is a miner in transition: using its balance sheet and cash flows to build a larger, more efficient business, with the eventual payoff depending on successful project delivery and a supportive copper price environment.

NEWS

November 4, 2025 · 5:05 PM UTC

Ero Copper Reports Third Quarter 2025 Operating and Financial Results

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October 7, 2025 · 5:05 PM UTC

Ero Copper to Release Third Quarter 2025 Operating and Financial Results on November 4, 2025

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September 18, 2025 · 7:00 AM UTC

Ero Copper Intercepts 115 Meters at 0.98% CuEq¹ in Deepest Hole Drilled to Date at Furnas Copper-Gold Project – Phase 2 Drill Program to be Completed in Early Q4 2025

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