EarningsQ2 2026 Earnings Report
MX:NEM Q2 2026 EPS Results
Actual EPS$38.14
Consensus EPS$36.20
Beat/MissBeat by +$1.94
One Year Ago EPS$25.97
MX:NEM Q2 2026 Revenue Results
Actual Revenue$112.02B
Expected Revenue$115.39B
Beat/MissMissed by -$3.37B
YoY Revenue Growth+16.93%
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeAfter Close
Conference CallThursday, July 23, 2026
MX:NEM Upcoming Earnings
Newmont Mining's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:NEM Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive operational and financial performance: record free cash flow, strong realized gold price (+33% YoY), disciplined capital allocation, share repurchases and a healthy net cash position. Offsetting these positives are tangible near-term challenges including rising energy/cost inflation, Cadia seismic-related development delays and an unresolved JV dispute with Barrick, plus jurisdictional risks in Ghana. Management emphasized cost discipline, portfolio productivity actions and maintained full-year guidance while actively advancing key project milestones (Red Chris, Lihir).Company Guidance
Strong Production and Metals Output (Q2 2026)
Q2 production of 1.3 million ounces of gold, 17,000 tonnes of copper and 7 million ounces of silver from the full portfolio; company now expects ~49% of full-year production delivered in H1 and ~51% in H2.
Record Free Cash Flow and Cash Generation
Cash flow from operations after working capital of $2.9 billion and a Q2 record $2.2 billion of free cash flow; adjusted EBITDA of $3.8 billion and adjusted net income of $2.10 per share.
High Realized Gold Price and Operating Leverage
Realized average gold price of $4,414/oz in Q2, approximately +$1,100/oz year-over-year (~33%); cost applicable to sales rose only ~4% YoY, allowing strong margin capture.
Shareholder Returns and Balance Sheet Strength
Returned ~ $1.8–$1.9 billion to shareholders during the calendar quarter via dividends and share repurchases; repurchased over 100 million shares since program start (~9% reduction in share count); ended the quarter with $3.4 billion net cash (about $0.4 billion above the upper end of the target range).
Cost Discipline and Unit Cost Performance
Gold all-in sustaining costs (byproduct) of $1,621/oz in Q2, below full-year guidance of $1,680/oz (~$59/oz or ~3.5% better than guidance); portfolio-level cost initiatives (parked ~50 mining units, Cerro Negro +15% underground productive time per shift) supporting productivity.
Project and Portfolio Milestones
Red Chris block cave received key regulatory approvals (consent-based process with Tahltan Nation); progress on Red Chris feasibility toward Board/FID. Lihir mobilization for nearshore barrier to ramp in Q3 to unlock >5 million ounces beginning in 2028. Cadia operating caves resumed mid-June with development work progressing.
Capital Allocation and Guidance Maintained
Full-year 2026 sustaining capital guidance on track (sustaining ~$1.95B; development ~$1.4B); sustaining expected ~58% weighted to H2 and development ~63% weighted to H2. Dividend maintained at $0.26/quarter with formula under framework suggesting potential to increase to $0.27 at next annual review.
MX:NEM 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