EarningsQ4 2026 Earnings Report
DE:HAM Q4 2026 EPS Results
Actual EPS€1.71
Consensus EPS€1.15
Beat/MissBeat by +€0.55
One Year Ago EPS€0.51
DE:HAM Q4 2026 Revenue Results
Actual Revenue€3.26B
Expected Revenue€2.86B
Beat/MissBeat by +€405.90M
YoY Revenue Growth+68.71%
Earnings Announcement Details
QuarterQ4 2026
Date08/27/2026
TimeBefore Open
Conference CallThursday, August 27, 2026
DE:HAM Upcoming Earnings
Harmony Gold Mining's next earnings date is estimated for March 3, 2027, based on past reporting schedules.
Q4 2026 Earnings Call Audio
DE:HAM Q4 2026 Earnings Call
0:00 / 0:00
Q4 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive financial and operational performance with record revenue, substantial free cash flow growth, higher earnings per share, robust shareholder returns and meaningful increases in copper resources and reserves. Operationally, management met gold production and cost guidance and reported encouraging CSA integration and exploration results. However, notable cautions include roughly ZAR 10 billion of one-off cash impacts that weighed on consensus cash flow, remaining contingent liabilities (~ZAR 2.1 billion), operational constraints at CSA that require further work (ventilation) and regulatory uncertainty at Eva Copper; a portion of the portfolio upside is described as conceptual. Overall the positive financial and resource/operational momentum materially outweighs the identified execution and contingent risks.Company Guidance
Record Revenue and Strong Earnings
Revenue increased 34% year-on-year to ZAR 100 billion (USD 5.9 billion). Headline earnings per share rose 87% to ZAR 43.63 per share.
Substantial Free Cash Flow and Shareholder Returns
Group adjusted free cash flow increased 54% to a record ZAR 17 billion (USD 1 billion). A record final dividend of ZAR 4.8 billion (ZAR 7.50 per share) was declared, taking full-year dividends to ZAR 8.2 billion (ZAR 12.80 per share) at a yield of ~3.5%.
Production Guidance Met — Gold
Group gold production of 1.43 million ounces met guidance (11th consecutive year). All-in sustaining cost (AISC) was within guidance at ZAR 1.19 million per kg (USD 2,195 per ounce). Underground recovered grade was 5.83 g/t, in line with guidance.
Copper Contribution from CSA
Following acquisition, CSA contributed 18,207 tonnes of recovered copper at a recovered grade of 3.75% and a C1 cash cost of USD 2.47 per pound — all reported within guidance.
Material Increase in Copper Resources and Reserves
Copper mineral resources increased 18.5% to 7.4 million tonnes and copper mineral reserves increased 71% to 4.0 million tonnes, reflecting inclusion of Eva Copper and CSA.
Gold Reserves Stable/Improving
Gold mineral resources held steady at ~107 million ounces while gold mineral reserves increased to 27.4 million ounces (additions include Tshepong North, Mponeng, Kusasalethu and the gold portion of Eva).
Operational Progress and Growth Signals at CSA
Operational integration of CSA completed with the best safety performance since acquisition. Milestones include completion of the first vent raise, record monthly development (560 m in June), strong exploration drilling (12,000 m in Q4) and intercepts up to 12% Cu; company signaling pathway to 40,000 tpa copper.
Maintained Guidance for Eva Copper
Management maintained guidance for first copper in 2028 and related CapEx, pursuing staged execution while engaging regulators on environmental matters.
DE:HAM Earnings History
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.
Beat
Missed