Aura Minerals (AUGO) Q2 2026 earnings summary

Executive summary

• Q2 2026 production was 75,437 GEO, down 8% sequentially but up 18% year-over-year, with H1 2026 totaling 158,000 GEO and full-year guidance reaffirmed at 340,000–390,000 GEO.

• Net revenue for Q2 2026 was $336 million, down 12% sequentially but up 76% year-over-year, impacted by lower gold prices and production.

• Adjusted EBITDA for Q2 2026 was $197 million, with LTM EBITDA at $801 million and 12 consecutive quarters of growth.

• Net income for Q2 2026 was $218 million, supported by $126 million in mark-to-market gains on gold derivatives and $175 million in operating income.

• A $60 million dividend and a $200 million share buyback program were announced.

Financial highlights

• Q2 2026 net revenues: $336 million, down 12% QoQ but up 76% YoY.

• Adjusted EBITDA: $197 million for Q2; $801 million LTM.

• Net income: $218 million; adjusted net income (excluding non-cash impacts) at $97 million for Q2.

• Cash equivalents at quarter-end: ~$248 million; net debt: $168 million; leverage ratio stable at 0.2x.

• Recurring free cash flow: $80 million in Q2 ($117 million excluding hedge losses); H1 2026 recurring free cash flow: $175.1 million.

Outlook and guidance

• Full-year 2026 production guidance reaffirmed at 340,000–390,000 GEO, with H2 expected at 182,000–232,000 GEO.

• AISC guidance for 2026 is $1,720–$1,865/GEO, with expected improvements in H2 as higher grades and production come online.

• MSG mine turnaround and Borborema debottlenecking to drive stronger H2 and 2027 performance.

• 2027 expected to see further production increases, especially from MSG and Era Dorada.