)
Edge20 Feb 2026
Dollar General: The Rural Retailer Playbook
How Dollar General built a small-box empire across rural America, scaling value and convenience into one of retail's most durable business models.
AngloGold Ashanti
AngloGold Ashanti (AU) investor relations material
AngloGold Ashanti Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary20 Feb, 2026
Executive summary
Achieved record operational and financial performance in 2025, with free cash flow tripling to $2.9bn, adjusted EBITDA up 129% to $6.3bn, and headline earnings rising 186% to $2.7bn, driven by 16% higher gold production and a 45% increase in average gold price.
Achieved record safety performance with TRIFR at 0.97 per million hours worked, outperforming industry benchmarks.
Tier 1 assets contributed over 70% of production and 80% of reserves, with standout results from Obuasi and Sukari; Sukari integrated as a Tier 1 asset following Centamin acquisition.
Completed Cerrejón and Serra Grande sales to sharpen focus on core business and portfolio optimization.
Arthur Gold Project in Nevada declared a first-time 4.9Moz mineral reserve, one of the largest US greenfield discoveries.
Financial highlights
Gold production rose 16% to 3.1Moz, with managed operations up 19% to 2.8Moz; revenue from product sales reached $9.9bn.
Adjusted EBITDA surged 129% to $6.3bn; free cash flow up 204% to $2.9bn; headline earnings increased 186% to $2.7bn.
Net cash position improved from $567m net debt at end-2024 to $879m net cash at end-2025.
Total dividends for 2025 were $1.8bn ($3.57/share), with $875m declared in Q4; payout ratio reached 62% of free cash flow.
Gold price averaged $3,468/oz in 2025, up 45% year-over-year.
Outlook and guidance
2026 gold production guidance: 2.8–3.17Moz; AISC: $1,780–$1,990/oz; cash costs: $1,315–$1,455/oz.
2027 outlook includes similar production and cost ranges, with continued ramp-up at Obuasi and increased non-sustaining capital for North Bullfrog construction.
Sustaining capital for 2026 guided at $1.04–$1.14bn; non-sustaining capital at $785–$835m.
Focus remains on disciplined capital allocation, operational improvements, and maximizing cash conversion.
Cost increases in 2026 expected to be split evenly between higher royalties and inflation.
Beyond policy, what drives future payouts?
Organic growth: When will 10-15% production hit?
Arthur: What are key permitting/development dates?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next AngloGold Ashanti earnings date
Q1 20268 May, 2026
AngloGold Ashanti
Next AngloGold Ashanti earnings date
Q1 20268 May, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
AngloGold Ashanti Limited is an independent, global gold mining company with operations, projects, and exploration activities spread across nine countries on four continents. The company, known for gold mining, also produces silver in Argentina and sulphuric acid in Brazil. With a diverse portfolio, it aims to create value by leveraging its existing assets and expertise in the mining sector. Key projects include the Quebradona project in Colombia, which is set to produce both gold and copper. The company is headquartered in Johannesburg, South Africa, and its shares are listed on the New York Stock Exchange.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage