Newmont (NEM) Q2 2026 earnings summary

Executive summary

• Produced 1.3 million ounces of gold, 17,000 tons of copper, and 7 million ounces of silver in Q2 2026, remaining on track for full-year guidance of 5.3 million gold ounces.

• Reported net income of $2.2 billion ($2.06 per diluted share) and adjusted net income of $2.2 billion ($2.10 per diluted share); adjusted EBITDA was $3.8 billion.

• Returned $1.9 billion to shareholders via dividends and share repurchases in Q2 2026, with over 100 million shares repurchased since program inception.

• Achieved key regulatory approvals for the Red Chris Block Cave project and resumed Cadia production after a seismic event.

• Announced new executive leadership appointments to reinforce depth and continuity.

Financial highlights

• Q2 2026 sales reached $6,118 million, with gold sales of $5,276 million and average realized gold price of $4,414/oz.

• Adjusted EBITDA for Q2 2026 was $3.8 billion; adjusted net income was $2.10 per share.

• Free cash flow for Q2 2026 was $2.2 billion, with $2.9 billion in operating cash flow.

• Gold all-in sustaining cost (AISC) was $1,621/oz in Q2 2026, below full-year guidance of $1,680/oz.

• Ended Q2 2026 with $9.0 billion in cash and $13.0 billion in total liquidity; net cash position of $3.4 billion.

Outlook and guidance

• Full-year 2026 guidance reaffirmed: 5.26–5.3 million attributable gold ounces, AISC of $1,680/oz, sustaining capital of $1.95 billion, and development capital of $1.4 billion.

• H2 2026 gold production expected to be 51% of annual total, with higher sustaining and development capital spend in H2.

• Q3 2026 gold production expected to be in line with Q2, with Q4 anticipated as the strongest quarter due to project ramp-ups.

• Capital allocation framework prioritizes reinvestment, financial flexibility, and shareholder returns.

• Inflationary impacts and commodity price volatility remain key risks to guidance.