Kinross Gold (K) Q3 2026 earnings summary

Executive summary

• Q3 attributable production was 424,693 Au eq. oz., down from 503,862 YoY; updated 2026 guidance remained on track.

• Realized gold prices lifted margins and adjusted earnings despite lower production and higher unit costs.

• Q3 YTD attributable free cash flow was $1.846B, supporting increased shareholder returns and continued investment in growth projects.

Financial highlights

• Revenue was $1,774.7M, down 2% YoY; operating earnings were $821.0M versus $810.1M.

• Adjusted net earnings were $591.3M, or $0.50/share, versus $529.6M, or $0.44/share; reported attributable earnings were $583.2M, or $0.49/share.

• Attributable adjusted operating cash flow was $830.9M; attributable free cash flow was $281.3M, or $391.4M adjusted for working capital.

• Q3 attributable production was 424,693 oz.; Q3 cost of sales was $1,485/oz. and AISC was $1,947/oz.

• Q3 capital expenditures were $439.6M, up from $312.2M, driven by development at Curlew, Redbird, Great Bear and Round Mountain Phase X.

Outlook and guidance

• Attributable production guidance is 1.84–1.86M Au eq. oz. in 2026 and 2027, and 2.0M oz. (+/-5%) in 2028; Q4 2026 production is expected at 430,000–450,000 oz.

• 2026 attributable cost-of-sales guidance is $1,420–$1,460/oz. and AISC guidance is $1,850–$1,900/oz.; both remain on track.

• Capital expenditure guidance is $1.5B (+/-5%) for 2026–2028; later-year estimates are subject to inflation and project advancement.

• Updated 2026 guidance assumes $4,350/oz. gold, $65/oz. silver and $100/bbl oil for the remainder of the year, plus specified foreign exchange rates.