SSR Mining (SSRM) Q2 2026 earnings summary

Executive summary

• Achieved Q2 2026 production of 101,959 gold equivalent ounces at a cost of sales of $1,775/oz and AISC of $2,622/oz, with H1 2026 production totaling 211,873 gold equivalent ounces, tracking full-year guidance of 450,000–535,000 ounces.

• Q2 2026 revenue was $443.8 million, net income attributable to shareholders was $137.0 million ($0.66/diluted share), and free cash flow was $50.3 million.

• Completed strategic refocus to the Americas, selling Çöpler for $1.49 billion and Hod Maden for a 4% NSR royalty, with both classified as discontinued operations.

• Returned $337.8 million to shareholders via buybacks in Q2, $409.2 million YTD, and reinstated a $0.03/share quarterly dividend.

• Ended Q2 with $1.78 billion in cash, $2.38 billion in total liquidity, and no long-term debt.

Financial highlights

• Q2 2026 revenue was $443.8 million, up from $405.5 million in Q2 2025; H1 2026 revenue reached $1,025.6 million.

• Net income from continuing operations was $137.0 million; adjusted net income per diluted share was $0.66.

• Operating cash flow for Q2 2026 was $115.6 million; H1 2026 was $420.5 million.

• Free cash flow in Q2 2026 was $50.3 million; H1 2026 free cash flow was $299.1 million.

• Q2 2026 AISC per gold equivalent ounce was $2,622, up from $1,858 in Q2 2025.

Outlook and guidance

• Full-year 2026 production guidance reaffirmed at 450,000–535,000 gold equivalent ounces, with production and free cash flow weighted to H2.

• Full-year AISC expected at the top end of guidance due to higher fuel prices and increased sustaining capital.

• Marigold, CC&V, and Seabee expect higher production in H2 2026, with AISC trending toward the upper end of guidance.

• Growth capital guidance increased across all sites to support expansion and resource development.

• Sustaining capital expenditures to remain elevated in Q3; production weighted 55%-60% to Q4.