05:36 PM EDT, 10/31/2024 (MT Newswires) -- Eldorado Gold ( EGO ) was last seen down 2.1% in after-hours New York trading after the company on Thursday said its third-quarter profit and revenue rose year-over-year but lowered guidance.

The company said its adjusted profit, excluding most one-time items, rose to US$71 million, or US$0.35 per share, in the period, up from US$35 million, or US$0.17, in the year-prior quarter.

Revenue was US$331.8 million in the quarter, up 36% from US$244.8 million, "primarily due to the higher averaged realized gold price and higher sales volumes," the company said.

Gold production reached 125,195 ounces this quarter, a 3% increase from the year-prior quarter. This rise was driven by a 13% increase at Olympias due to better gold grades and a 10% increase at Kisladag from higher heap leach inventory drawdown, the company added.

The company said it is updating its 2024 guidance for different metrics based on current operational and financial performance. Gold production is now expected to be between 505,000 and 530,000 ounces, down from 505,000 to 555,000 ounces. Total cash costs are projected to be $910 to $940 per ounce, up from $840 to $940. The all-in sustaining costs are expected to be $1,260 to $1,290 per ounce, up from $1,190 to $1,290.

Eldorado shares were last seen down US$0.37 to US$17.00 after hours. They closed down $0.77 to $24.22 on the Toronto Stock Exchange.