Newmont (NEM) Earnings Date & Reports

Key Takeaways

• Newmont reported adjusted earnings per share (EPS) of $2.10 for the second quarter of 2026, beating the consensus estimate of $2.05.
• Revenue came in at $6.12 billion, up 15.1% year over year but below the consensus estimate of $6.35 billion.
• The company generated a record second-quarter free cash flow of $2.2 billion, supported by historically high gold prices.
• Attributable gold production slipped 1% sequentially to about 1.29 million ounces, while copper output fell 43% after seismic events at the Cadia mine.
• Newmont reaffirmed its full-year 2026 guidance of roughly 5.26 million ounces of attributable gold production and declared a $0.26 per-share dividend.

Earnings Context and Why It Matters

As the world's largest gold producer, Newmont Corporation (NEM) serves as a bellwether for the precious metals mining industry. Its second-quarter 2026 results arrived during a period of historically elevated — albeit volatile — gold prices, giving investors a close look at how effectively the company converts higher metal prices into profits and cash flow. The quarter also tested Newmont's operational resilience after seismic events disrupted its Cadia operation in Australia. With a strong balance sheet, a capital-return program anchored by dividends and buybacks, and production guidance in focus, this report offered a key checkpoint on whether management can sustain profitability and shareholder returns through shifting commodity conditions.

Reported Results

Newmont reported net income attributable to stockholders of $2.20 billion, or $2.06 per diluted share, for the second quarter ended June 30, 2026, compared with $2.06 billion, or $1.85 per share, in the prior-year period. Adjusted net income rose to $2.25 billion, or $2.10 per share, up from $1.59 billion, or $1.43 per share, a year earlier. That adjusted figure topped the consensus estimate of $2.05 per share.

Revenue totaled $6.12 billion, a 15.1% increase from the year-ago quarter, driven primarily by higher realized gold prices. The top line, however, came in below the consensus estimate of $6.35 billion, as lower gold sales volumes partially offset pricing gains.

On the operating side, attributable gold production was approximately 1.29 million ounces, down 1% sequentially and 12.5% year over year. The average realized gold price reached $4,414 per ounce, up roughly 33% from the prior-year period. Costs rose as well: gold co-product CAS (costs applicable to sales, the direct cost of producing gold) was $1,463 per ounce, while gold co-product AISC (all-in sustaining costs, a measure that adds sustaining capital and other expenses) was $1,938 per ounce.

The company generated $2.92 billion in net cash from operating activities and $2.21 billion in free cash flow — a record for any second quarter. Newmont ended the quarter with about $9.0 billion in cash, a net cash position of $3.4 billion, and total liquidity of $13.0 billion.

AI Screener

For investors looking to monitor gold miners and other market opportunities, Tickeron's AI Screener is an AI-powered stock and exchange-traded fund (ETF) discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. The screener is designed to help identify trade ideas, trending stocks, breakout candidates, and market opportunities more efficiently than manual screening. Consider exploring the AI Screener to support your own research workflow.

Market Reaction and Investor Sentiment

Newmont's report offered a mixed but broadly constructive picture for investors. An earnings beat on adjusted EPS and record free cash flow highlighted the company's ability to monetize elevated gold prices, even as revenue missed expectations due to lower volumes. The company's decision to reaffirm full-year guidance — including attributable gold production of approximately 5.26 million ounces and gold AISC of around $1,680 per ounce — signaled management's confidence in a second-half-weighted production profile. Investor sentiment was also supported by continued capital returns: Newmont executed $1.7 billion in share repurchases since the prior earnings call and declared a $0.26 per-share dividend. The main points of caution centered on rising unit costs and the temporary disruption at Cadia, which pressured copper and co-product output during the quarter.

Forward Outlook and Key Factors to Monitor

Looking ahead, Newmont expects attributable gold production to remain broadly in line with second-quarter levels in the third quarter, with roughly 51% of full-year output weighted to the second half of 2026. Management has reaffirmed its annual targets, suggesting it remains on track despite the earlier disruption at Cadia, where operations returned to normal levels by mid-June.

Investors will want to monitor several factors in the coming quarters. Gold price direction remains the most important external variable, given its direct impact on revenue, margins, and free cash flow. On the cost side, attention should stay on AISC trends, which climbed sequentially due to lower production volumes, incremental Cadia-related spending, and higher royalty payments in Ghana.

Operational execution is another key theme. Recovery at Cadia, mine-sequencing-driven grade variations at Peñasquito, Ahafo South, and Yanacocha, and contributions from Lihir, Boddington, and the Pueblo Viejo joint venture will all shape whether Newmont meets its production guidance. Finally, shareholders should watch the company's capital-return framework, including the pace of buybacks under its $6.0 billion authorization and any adjustments to the $1.04 annualized dividend, alongside its progress toward the $1 billion net cash target.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.

Disclaimers and Limitations