Perseus Mining (PRU) H2 2026 earnings summary

Executive summary

• Achieved record financial and operational performance in FY26, with revenue up 19%, profit after tax up 14%, and significant growth in shareholder returns, including an 87% increase in dividends.

• Released inaugural climate report under AASB S2, advanced sustainability initiatives, and reported zero lost time injuries.

• Major progress at Nyanzaga Gold Project (67% complete), on track for first gold in January 2027.

• Mineral resources and ore reserves increased by 37% and 40% respectively compared to FY25.

• Advanced Yaouré CMA underground operations and welcomed new board and executive members.

Financial highlights

• Revenue rose to $1.5 billion, up 19% year-over-year, with EBITDA up 16% to $860.5 million.

• Profit after tax reached $480.5 million, up 14%; operating cash flow increased 24% to $666.4 million.

• Net cash and bullion ended at $1,034 million, up $207 million; company remains debt-free.

• Earnings per share grew 17% to 31.73 US cents; full-year dividend up 87% to AUD 0.14 per share.

• Shareholder returns of $218 million in FY26 via dividends and buybacks, excluding proposed special distribution.

Outlook and guidance

• FY27 production guidance: 420,000–480,000 ounces at all-in site cost of $1,835–2,070/oz.

• Sustaining capital forecast: $50–60 million; development capital: ~$450–530 million; exploration spend: $70–80 million.

• Nyanzaga project on schedule for first gold in January 2027; guidance excludes Nyanzaga until commercial production.

• Minimum liquidity target set at $500 million.

• Exploration spend to double, focusing on resource growth at all mines.