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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Equinox Gold
Equinox Gold (EQX) investor relations material
Equinox Gold Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary10 Nov, 2026
Executive summary
Q3 production was 237,019 oz and sales were 248,484 oz; record revenue of $1.047B included two months of attributable Musselwhite and Camino Rojo production after the July 31 Orla combination.
Adjusted EBITDA reached a quarterly record $533.0M, up 49% QoQ; net income was $62.5M and adjusted net income was $199.3M.
The Orla combination lifted pro forma annual production potential above 1 Moz; priorities include delivering commitments, exploration and sequencing growth projects to cash flow, liquidity and market conditions.
Financial highlights
Q3 revenue was $1,047.0M vs. $584.3M in Q3 2025; nine-month revenue was $2,678.4M vs. $1,135.8M.
Q3 income from mine operations was $370.2M vs. $181.9M; adjusted EBITDA was $533.0M vs. $419.9M, with nine-month adjusted EBITDA of $1,418.5M vs. $760.5M.
Q3 net income was $62.5M, or $0.06/share; adjusted net income was $199.3M, or $0.19/share.
Operating cash flow before non-cash working capital was $291.7M; mine-site free cash flow before working capital was $398.3M.
YTD production was 611,484 oz, including 13,473 oz from discontinued Brazil operations and 5,322 oz of residual leaching at Castle Mountain.
Outlook and guidance
FY 2026 production guidance is 870,000–920,000 oz, with results tracking to the low end; AISC guidance is $1,900–$2,000/oz sold, with expectations at the high end. Full-year production from all assets is projected at 1.1 Moz.
FY 2026 growth capital guidance is $600–$650M and growth exploration is $110–$120M; major allocations include South Railroad, Valentine Phase 2 and the Los Filos restart.
Valentine Phase 2 is approved to double throughput to 5.0 Mtpa; initial capital is $436M, including $54M contingency, with completion expected in late 2028.
South Railroad targets first gold in H1 2028; initial capital is estimated at $395M, with first-five-year average production planned at 130,000 oz/year.
Greenstone trommel commissioning is planned for early 2027; Valentine is targeting continued higher-grade feed, while Los Filos heap-leach restart is expected to contribute at about half its historical rate through 2027.
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Latest events from Equinox Gold
- Greenstone’s ramp-up underpins 2024 production guidance of 660,000–750,000 oz.EQX
Q4 2023 - Aiming to double gold output in North America, with disciplined growth and increased shareholder returns.EQXMining Forum Americas 2026
- Merger-driven growth and expansion projects position the company as a top-tier North American gold producer.EQXInvestor presentation
- Q2 2026 saw strong results, Orla merger, higher guidance, and a 50% dividend increase.EQXQ2 2026
- Annual gold production capacity surpasses 1.9 Moz, with major growth and exploration underway.EQXCorporate presentation
- Shareholders approved the Orla Mining merger and leadership transition, targeting July closing.EQXEGM 2026
- Record Q3 production and revenue as Greenstone achieves commercial production and guidance is revised.EQXQ3 2024
- Merger forms a leading gold producer with strong Canadian assets and major growth potential.EQX34th Annual BMO Global Metals, Mining & Critical Minerals Conference
- Record gold output and revenue, but net loss amid Los Filos suspension and merger plans.EQXQ1 2025
Next Equinox Gold earnings date
Q4 202617 Feb, 2027
Equinox Gold
Next Equinox Gold earnings date
Q4 202617 Feb, 2027
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Frequently asked questions
Equinox Gold Corp., together with its subsidiaries, engages in the acquisition, exploration, and development of mineral deposits. The company primarily explores for gold and silver deposits. Its properties include the Aurizona gold mine located in the state of Maranhao; the Fazenda gold mine located in Bahia; the RDM gold mine located in Minas Gerais; and the Santa Luz gold mine located in Bahia, Brazil. The company also holds interests in the Mesquite gold mine and Castle Mountain property situated in California; and Los Filos Gold Mine located in Guerrero State, Mexico. In addition, it holds a 60% interest in the Greenstone project located in Ontario, Canada. The company was formerly known as Trek Mining Inc. and changed its name to Equinox Gold Corp. in December 2017. Equinox Gold Corp. was incorporated in 2007 and is headquartered in Vancouver, Canada.