IAMGOLD (IAG) Q3 2026 earnings summary

Executive summary

• Q3 attributable production was 186,900 oz and YTD production was 558,600 oz; FY 2026 guidance of 720,000–820,000 oz remains on track.

• Q3 revenue was $856.5M and mine-site free cash flow was $404.3M; available liquidity was $1.613B at Sept. 30.

• Strong gold prices and Côté’s September throughput above nameplate support an expected stronger Q4, led by higher grades and processing rates.

Financial highlights

• Q3 revenue was $856.5M, up 21% YoY; sales were 199,900 oz at a realized price of $4,277/oz.

• EBITDA was $584.4M and adjusted EBITDA was $503.9M; trailing 12-month adjusted EBITDA was $2.4B.

• Net earnings attributable to equity holders were $297.0M ($0.52/share); adjusted net earnings were $237.0M ($0.42/share), primarily excluding the Bambadji sale gain.

• Q3 operating cash flow was $461.1M and mine-site free cash flow was $404.3M; YTD mine-site free cash flow was $1,297.8M.

• Q3 capital expenditures were $109.7M; FY capital guidance totals $500M ±5%.

Outlook and guidance

• FY attributable production guidance is 720,000–820,000 oz; Q4 is expected to be the strongest quarter, with Côté benefiting from higher grades and throughput.

• FY cash costs excluding royalties are guided at $1,100–$1,250/oz and AISC excluding royalties at $1,675–$1,825/oz; both are expected in the upper range.

• YTD royalties averaged $370/oz, $45/oz above guidance; AISC including royalties is expected to exceed its $2,150/oz upper guidance limit.

• Côté production is expected at the lower end of its 270,000–310,000 oz range; Westwood is tracking toward the upper end of 110,000–130,000 oz and Essakane remains on track for 340,000–380,000 oz.

• Updated studies include the Côté mine plan in Q4 2026, Essakane mine-life extension and Nelligan PEA in mid-2027, and Westwood underground expansion plan in H2 2027.