Newmont reports Q2 adjusted EPS 33c, consensus 58c

Reports Q2 revenue $2.68B, consensus $3.88B. Primary adjustments to second quarter net income include changes in the fair value of investments of $42M, Newcrest transaction costs of $21M and restructuring and severance costs of $10M, as well as valuation allowance and other tax adjustments. Reports Q2 adjusted EBITDA $910M. Attributable gold production decreased 17% to 1.24M ounces. “In the second quarter, Newmont delivered $910 million in adjusted EBITDA with a disciplined approach to running a safe and sustainable mining business to generate long-term value. Our business is underpinned by the industry’s strongest balance sheet and a global portfolio with the size and scale to make decisions that deliver on our strategy. We remain on track to achieve our full-year guidance, and I am proud of the prudent decisions made during the second quarter to safeguard our workforce, protect long-term value and position Newmont to deliver a strong performance in the second half of the year.”