Coeur Mining (CDE) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $983.6M, up 77% YoY, and adjusted EBITDA was $448.0M, up 69%; GAAP net income was $109.4M, or $0.11/share.

• Production totaled 161K oz of gold, 4.2M oz of silver and 10.0M lb of copper; the seven-operation portfolio includes the acquired New Afton and Rainy River mines.

• Production remains targeted at the low end of FY26 guidance, with Q4 expected to support record full-year results.

Financial highlights

• Revenue was $983.6M versus $554.6M YoY and $1.086B in Q2; operating income was $174.5M versus $177.1M YoY.

• Adjusted EBITDA was $448.0M, up 69% YoY; adjusted net income was $97.8M, or $0.10/share, versus $122.6M, or $0.12/share, YoY.

• Free cash flow was $240.2M, up 27% YoY; operating cash flow was $385.6M, including $408.6M before working-capital changes.

• Nine-month revenue was $2.93B, adjusted EBITDA $1.40B and free cash flow $894.5M.

Outlook and guidance

• FY26 production guidance is 630K–750K oz gold, 18.68M–21.93M oz silver and 40M–50M lb copper; production is targeted near the low ends: ~630K oz, ~18.7M oz and ~40M lb.

• At assumed prices of $4,000/oz gold, $55/oz silver and $6.25/lb copper, adjusted EBITDA is expected to exceed $2B and free cash flow to exceed $1.3B.

• FY26 adjusted costs applicable to sales are expected near the high end of guidance; capital, amortization, exploration, G&A and cash taxes are trending toward the low end.

• Capital expenditure guidance is $520M–$605M, including $360M–$405M sustaining and $160M–$200M development; exploration guidance is $147M–$169M.

• Guidance assumes CAD 1.38 and MXN 18.00; cash income and mining taxes are estimated at $350M–$450M.