05:45 PM EDT, 08/01/2024 (MT Newswires) -- Ero Copper ( ERO ) was last seen down 1.1% in after-hours New York trade after the company on Thursday said its adjusted second-quarter profit fell despite higher revenue.

The Brazilan copper prodicer said its adjusted profit, excluding most one-time items. fell 17% to US$18.6 million, or US$0.18 per share, down from US$22.3 million or US$0.24, a year earlier. It is hard to tell how Ero did against forecasts as Capital IQ provided forecasts in CAD.

Revenue rose 12% to US$117.1 million from US$104.9 million.

Second quarter copper production was 8,867 tonnes at C1 cash costs of US$2.16 per pound of copper produced. Gold production during the quarter was 16,555 ounces at C1 cash costs and All-in Sustaining Costs of US$428 and US$842, respectively, per ounce produced.

Ero reaffirmed 2024 production and copper cash cost guidance and updated other 2024 guidance ranges to reflect its first half 2024 performance, including "exceptional" year-to-date unit costs at the Xavantina Operations driven by elevated gold grades.

"With the Tucuma Project ramping up to commercial production and the Xavantina Operations continuing to deliver exceptional operating results, we are on track to achieve record copper and gold production this year," said David Strang, Chief Executive Officer.

The company's shares were last seen down US$0.20 to US$18.50 after hours. They closed down $1.04 to $25.96 on the Toronto Stock Exchange.