Lundin Gold earnings date
Lundin Gold (F1YN) Q3 2026 Earnings Report
DE:F1YN Q3 2026 EPS Results
- Actual EPS
- EUR 1.09
- Consensus EPS
- EUR 1.02
- Beat/Miss
- Beat by +EUR 0.06
- One Year Ago EPS
- EUR 0.73
DE:F1YN Q3 2026 Revenue Results
- Actual Revenue
- EUR 560.43M
- Expected Revenue
- EUR 568.77M
- Beat/Miss
- Missed by -EUR 8.34M
- YoY Revenue Growth
- +43.92%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/05/2026
- Time
- Before Open
- Conference Call
- Thursday, November 5, 2026
Lundin Gold's next earnings date is estimated for February 25, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was strongly positive, led by record quarterly production and mining and processing throughput, robust revenue and cash flow generation, a 76% AISC margin, continued 100% normalized free cash flow returns to shareholders, strong safety performance, and substantial exploration progress. The main negatives were the expected fourth-quarter production moderation, shipment timing that caused gold sales to trail production year to date, uncertainty around the sovereign adjustment process, and stated constraints on expansion beyond the current mine-to-mill project.
Lundin Gold expects fourth quarter production to moderate as head grades normalize in line with the mine sequence and because of the scheduled process plant maintenance shutdown completed in early October, while remaining on track to meet its 2026 production guidance of 475,000 to 525,000 ounces and its production and cost guidance; the company expects to make an integrated investment decision in the fourth quarter, with further details including capital cost and timing following that investment decision, and has an integrated investment decision targeted for late 2026. It plans to release a maiden mineral resource estimate at Sandia in early 2027, has completed more than 100,000 meters of drilling so far, and expects mediation on the sovereign adjustment to kick off early in the new year.
- Record Third-Quarter Gold ProductionThird-quarter production was approximately 154,000 ounces of gold, supported by accelerated mining rates and processing of higher-grade ore earlier than planned. Year-to-date production reached approximately 392,000 ounces, representing 78% of the midpoint of annual guidance.
- Record Mining and Processing PerformanceThe company mined a record 555,000 tonnes and processed a record 535,000 tonnes during the quarter. Average throughput exceeded 5,800 tonnes per day, a new record for FDN, with an average head grade of 10.1 grams per tonne and recoveries of just over 88%.
- Production and Cost Guidance on TrackLundin Gold remains on track to achieve its 2026 production guidance of 475,000 to 525,000 ounces. Cash operating costs and all-in sustaining costs for the quarter were aligned with plans.
- Strong Financial Results and MarginsThird-quarter net revenues were $633 million, income from mining operations totaled $468 million from 148,000 ounces sold, cash operating costs averaged $862 per ounce, and AISC averaged $1,037 per ounce. The resulting AISC margin was approximately 76%.
- Robust Cash Flow Generation and Balance SheetThe business generated $377 million in operating cash flow and $331 million in free cash flow during the quarter. It ended the quarter with $574 million in cash and $477 million in working capital. During the first nine months, operating cash flow totaled $872 million after annual tax and profit-sharing payments of $221 million.
- Continued Shareholder Capital ReturnsThe company returned $261 million to shareholders through cash dividends during the quarter, bringing the year's total cash dividends to $832 million, excluding the LunR equity dividend. It also repurchased 49,500 shares and returned another $3 million through its normal course issuer bid. The third-quarter dividend was $1.14 per share, bringing the year's total cash dividend to $3.43 per share and marking the fifth consecutive quarter of returning 100% of normalized free cash flow to shareholders.
- Expansion Project Advances Toward Investment DecisionMine-to-mill expansion engineering progressed sufficiently to develop final cost estimates and a project schedule. Capital requirements to bring FDNS into production were also prepared, and the company expects to make an integrated investment decision in the fourth quarter, considering optimized mining rates at FDN and FDNS and enhanced processing capacity.
- Progress on FDNS and FDN East DevelopmentThe company completed 102 meters of development toward FDN South from the South Portal and 39 meters toward FDN East from the main FDN ore body. The South Portal heading is expected to provide ventilation for future FDNS mining, while FDN East development will improve access for drilling and conversion and exploration programs.
- Strong Safety PerformanceThe company recorded 0 lost-time injuries and 0 medical treatment incidents in the quarter, resulting in a total recordable incident rate of 0 for the quarter and 0.19 for the year. Management also described ongoing safety practices involving field leadership visibility, hazard identification before work starts, and workers' right and responsibility to stop an unsafe job.
- High-Grade FDNS Exploration and Resource Growth PotentialConversion drilling at FDNS demonstrated continuity of high-grade zones within the known ore body. Highlights included 11 meters at 124.3 grams per tonne gold, including 1 meter at 1,290 grams per tonne, and 7.6 meters at 102.4 grams per tonne. Drilling outside the mineral resource envelope also confirmed continuity along the downdip extension and upper contact, with an exploration intercept of 8.5 meters at 21 grams per tonne.
- FDN East Conversion Drilling ProgressConversion drilling commenced at FDN East and confirmed continuity of mineralization on the western veins. Reported highlights included 4.5 meters at 59.1 grams per tonne gold, 3.9 meters at 18.5 grams per tonne, 5.4 meters at 5.8 grams per tonne, and 8.4 meters at 6.7 grams per tonne.
- Bonza Sur Higher-Grade Zones IdentifiedRestarted drilling at Bonza Sur confirmed discrete higher-grade veins within the larger disseminated halo. The program intercepted the two highest-grade intercepts ever drilled at Bonza Sur: 3.1 meters at 204.3 grams per tonne gold, including 0.6 meters at 1,035 grams per tonne, and 3.3 meters at 242.6 grams per tonne, including 0.7 meters at 1,090 grams per tonne.
- New Quebrada Dorada Gold DiscoveryThe company discovered a new epithermal gold deposit named Quebrada Dorada. The discovery doubled the strike length of the epithermal gold trend from 4 kilometers to 8 kilometers. Highlight intercepts included 13.1 meters at 6.5 grams per tonne gold and 3.2 meters at 20.2 grams per tonne, with two rigs actively drilling the deposit.
- Broad Exploration Program and Copper District ProgressMore than 100,000 meters of drilling had been completed during the year, delivering 3 discoveries, while the regional program was being ramped up across the broader land package. The company also expects to release a maiden mineral resource estimate for the Sandia copper-gold porphyry deposit in early 2027.
DE:F1YN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 25, 2027 | 2026 (Q4) | 0.88- | 0.79 | ― | ― |
| Nov 05, 2026 | 2026 (Q3) | 1.021.09 | 0.73 | 50.04% (+0.36) | |
| Aug 06, 2026 | 2026 (Q2) | 0.770.74 | 0.68 | 9.54% (+0.06) | |
| May 07, 2026 | 2026 (Q1) | 0.900.92 | 0.53 | 72.78% (+0.39) | |
| Feb 19, 2026 | 2025 (Q4) | 0.810.79 | 0.46 | 72.90% (+0.34) | |
| Nov 06, 2025 | 2025 (Q3) | 0.640.73 | 0.47 | 52.73% (+0.25) | |
| Aug 07, 2025 | 2025 (Q2) | 0.660.68 | 0.34 | 100.56% (+0.34) | |
| May 07, 2025 | 2025 (Q1) | 0.480.53 | 0.2 | 171.70% (+0.34) | |
| Feb 21, 2025 | 2024 (Q4) | 0.460.46 | 0.11 | 306.15% (+0.35) | |
| Nov 08, 2024 | 2024 (Q3) | 0.390.47 | 0.16 | 202.82% (+0.32) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
