Integra Resources (ITR) Q3 2026 earnings summary

Executive summary

• Florida Canyon produced 17,652 oz in Q3, up 8% QoQ and 40% vs. Q1; record mining contrasted with slower heap-leach recovery and a cut to 2026 guidance.

• Quarter-end cash was $119.5M and working capital was $159.5M; debt-free since December 2025 except for mobile equipment financing.

• DeLamar permitting and financing preparation advanced, while Nevada North studies and exploration continued.

Financial highlights

• Q3 revenue was $72.4M vs. $70.7M YoY; mine operating earnings were $23.3M vs. $28.6M.

• Net earnings were $12.9M, or $0.06/share, vs. a net loss of $8.2M, or $0.05/share; adjusted earnings were $12.8M, or $0.06/share, vs. $16.3M, or $0.10/share.

• Operating cash flow was $21.8M vs. $35.6M and free cash flow was $11.1M vs. $20.2M; lower working-capital cash inflow contributed to the decline.

• 9M revenue was $204.9M vs. $188.8M; net earnings were $37.4M vs. $3.4M and adjusted earnings were $38.8M vs. $32.5M.

Outlook and guidance

• 2026 Florida Canyon production guidance was cut from 70,000–75,000 oz to 59,000–62,000 oz as leaching lagged mining; mining rates will be reduced for the rest of 2026.

• Revised 2026 guidance: cash costs of $2,300–$2,500/oz sold, mine-site AISC of $3,300–$3,500/oz sold and non-sustaining growth capital of $16.5M–$18.5M.

• Central Pit access to higher-grade ore is expected in 2027; pad expansion and exploration are expected to support higher production and lower costs.

• DeLamar’s EIS and Record of Decision are anticipated in H2 2027; Nevada North studies and an updated technical report are targeted for 2027.