Americas Gold and Silver Corporation (AMEX:USAS) shares traded lower Friday after the company reported first-quarter results that missed analyst expectations despite sharp revenue growth and improved operating performance.

Earnings Miss Overshadows Strong Revenue Growth

The company reported earnings of 3 cents per share, below consensus estimates of 10 cents per share. Revenue totaled $67.8 million, missing analyst expectations of $69.2 million.

Revenue increased 187% year over year, driven by higher production volumes and stronger realized metal prices. The company also reported operational improvements at the Galena Complex in Idaho and the start of commercial production from the high-grade EC120 zone at Cosalá.

Adjusted EBITDA Swings To Profit

Adjusted EBITDA rose to $33.6 million, compared with a loss of $5.5 million in the prior-year quarter, supported by stronger production, higher pricing and improved operational leverage.

Americas Gold and Silver ended the quarter with $122.4 million in cash.

Silver Production Surges Across Key Operations

Silver production increased 76% year over year to 787,000 ounces, while silver sales totaled 830,000 ounces during the quarter.

At Galena, silver production rose about 35% year over year to roughly 425,000 ounces due to higher throughput. Cosalá production climbed 174% to ...