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.

• Generated $2.9 billion in operating cash flow and record Q2 free cash flow of $2.2 billion.

• Returned $1.9 billion to shareholders via dividends and share repurchases since the last earnings call; declared a $0.26/share dividend for Q2 2026.

• 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; average realized gold price was $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; cash from operations totaled $2.9 billion.

• Gold all-in sustaining cost (AISC) was $1,621/oz, below full-year guidance; by-product CAS was $1,043/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 million attributable gold ounces, gold 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 higher unit costs due to increased sustaining capital.

• Inflationary impacts and cost pressures from oil and indirects are being monitored, but cost guidance is maintained.

• Guidance and outlook are subject to risks including commodity price volatility, operational disruptions, regulatory changes, and macroeconomic uncertainty.