RE:RE:Earnings beatdownIf you don't understand financial statements, maybe you should stick to ETFS.
Their cash tax rate was actally down in the 2Q24 at 35.6% vs 41.6% in 2Q23. And pre-tax profit was up 42% from $95.1 to 134.7 milli. But the Colombian Peso deprciated 8% in the 2Q which is highly unusual So they had a DEFERRED TAX expense of $82.9 mill vs a deferred tax credit of $45.5 last year which is a non-cash swing of $128.8 million. So far in the 3Q, the peso has appreciated 3.2% in the 3Q so there could be a reversal in deferred tax.