What caused IAG's EPS to decline in Q2 2024?

IAG's EPS decline in Q2 2024 can be attributed to higher operating costs and lower revenue from gold sales.

1. Higher Operating Costs: The increase in operating costs directly impacts the net income and, consequently, the EPS. This can be due to various factors such as inflation, increased labor costs, or higher expenses related to mining operations.
2. Lower Revenue from Gold Sales: The decline in revenue from gold sales suggests that the market price of gold may have been lower during the quarter, or the company's gold production and sales volumes may have decreased. Lower gold prices or volumes can significantly impact the revenue and, subsequently, the EPS.
3. Production and Operational Issues: Production issues at the Côté Gold Mine, such as delays or inefficiencies, could have led to lower gold production and sales, affecting revenue and profitability.
4. Market Conditions and External Factors: Broader market conditions, such as geopolitical tensions, interest rates, or economic indicators, can influence gold prices and mining company revenues. Any negative developments in these areas could have contributed to IAG's revenue and EPS decline.

In summary, the decline in IAG's EPS in Q2 2024 is likely a result of a combination of higher operating costs, lower revenue from gold sales, production and operational issues, and challenging market conditions.