EarningsQ2 2026 Earnings Report
MX:GFIN Q2 2026 EPS Results
Actual EPS$37.36
Consensus EPS$17.06
Beat/MissBeat by +$20.30
One Year Ago EPS$15.27
MX:GFIN Q2 2026 Revenue Results
Actual Revenue$106.83B
Expected Revenue$104.97B
Beat/MissBeat by +$1.86B
YoY Revenue Growth+70.58%
Earnings Announcement Details
QuarterQ2 2026
Date08/25/2026
TimeBefore Open
Conference CallTuesday, August 25, 2026
MX:GFIN Upcoming Earnings
Gold Fields's next earnings date is estimated for February 25, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:GFIN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a strongly positive near-term financial and operational performance: doubled free cash flow, a ~51% higher realized gold price, 12% production growth and significant returns to shareholders alongside a near-net-cash balance sheet. These substantial positives are tempered by rising unit costs (AISC +13%), portfolio-level cost inflation and specific execution/sovereign risks (Windfall permitting delays, Tarkwa lease uncertainty and localized operational disruptions). Management has clear mitigation/actions (transformation program, disciplined capital allocation, readiness to progress Windfall when permits are received) but there are non-trivial timing and cost risks on growth projects. On balance, the highlights materially outweigh the lowlights given the scale of cash generation, deleveraging and shareholder returns.Company Guidance
Strong safety performance
No fatalities and no serious injuries across the group in H1 2026, attributed to the safety improvement program (visible leadership, critical control verification and focus on lead indicators).
Production growth and standout assets
Attributable production rose ~12% to ~1.267 million ounces, led by Salares Norte (+173% YoY to ~337,000 oz) and Granny Smith (+10% to 147,000 oz). South Deep produced 151,000 oz in line with plan.
Material increase in realized price and sales volumes
Sales volumes were up 18% and the average realized gold price increased ~51% to $4,678/oz, materially boosting revenues and margins in the period.
Very strong cash generation and returns to shareholders
Adjusted free cash flow was $2.225 billion (more than double the prior period), delivering a free cash flow yield of ~11%. Interim base dividend of ZAR 16.25/share (+132% YoY), $300 million of buybacks completed, and an additional $500 million allocated to the top-up returns program (bringing the program to $1.25 billion total). $553 million of the program has already been returned ($253M special dividend + $300M buybacks).
Balance sheet deleveraging and liquidity
Net debt reduced materially to $437 million (net debt-to-EBITDA 0.06x vs 0.37x year-ago). Excluding lease liabilities, the group is in a net cash position; maintained strong liquidity and no near-term refinancing pressure.
Portfolio progress and growth optionality
Windfall: IBA signed, detailed engineering and execution readiness advanced; exploration program ongoing (high-grade intercepts >50 g/t reported). St. Ives shows pathway to expand throughput (targeting 3.4 Mtpa underground in ~5 years) and has ~3.9 Moz reserves and >20 years life. Brownfields/greenfields programs continued (~$180M spent in H1), with district-scale potential across assets.
Operational and sustainability achievements
Group water recycling at 93% and St. Ives renewable energy project due in H2; higher volumes and recovery improvements (e.g., Salares plant performance through winter) demonstrating operational resilience.
Disciplined capital allocation
Invested $0.6 billion in sustaining capital and $0.3 billion in growth; reduced net debt by $0.8 billion while returning $1.4 billion to shareholders in H1 — demonstrating the capital allocation framework is funding operations, growth and returns simultaneously.
MX:GFIN 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