Aris Mining (ARIS) Q2 2026 earnings summary

Executive summary

• Achieved record H1 2026 revenue, EBITDA, and earnings, driven by strong gold production and higher realized prices, with 148,000 oz gold produced in H1 2026 and $426 million cash at quarter end.

• All four assets advancing, with Segovia and Marmato driving near-term growth and Toroparu and Soto Norte supporting longer-term expansion.

• Marmato's new 5,000 tpd CIP plant is on schedule for Q4 2026 commissioning, supporting staged ramp-up into 2027.

• Cash balance stood at $426 million after funding $121 million in capital projects during Q2 2026.

• Operating cash flow after taxes reached $200 million in H1, funding $196 million in capital expenditures.

Financial highlights

• Q2 2026 gold production: 73.7 koz; H1 2026: 148.0 koz; Q2 2026 gold revenue: $321 million; H1 2026: $684.7 million.

• Q2 2026 adjusted EBITDA: $179 million; H1 2026: $390.7 million; trailing 12-month adjusted EBITDA: $690 million.

• Q2 2026 adjusted net earnings: $96 million ($0.47/share); H1 2026: $220 million ($1.07/share); trailing 12-month adjusted net earnings: $386 million ($1.89/share).

• Cash balance at June 30, 2026: $426 million.

• Segovia AISC (Owner Mining) was $1,767/oz in Q2 2026, H1 2026 average $1,623/oz, below full-year guidance.

Outlook and guidance

• On track to achieve 2026 production guidance of 300,000–350,000 oz gold, with H1 2026 production representing 49% of the low end of guidance.

• Expect stronger production in H2 2026, driven by Segovia ramp-up and Marmato plant commissioning.

• Marmato’s new CIP plant scheduled for first gold in Q4 2026, ramping up to 5,000 tpd by end of 2027.

• Toroparu Prefeasibility Study on track for H2 2026 completion; construction decision targeted for early 2027.

• Clear path to approximately 500,000 ounces of annual gold production in the near term.