Wesdome Gold Mines (WDO) Q1 2026 earnings summary

Executive summary

• Achieved record Q1 2026 results with revenue of $300 million, net income of $119 million ($0.79/share), and EBITDA of $212 million, all showing significant year-over-year growth, supported by strong gold prices and production.

• Produced 45,303 ounces of gold, maintaining strong operational output across both Eagle River and Kiena mines.

• Free cash flow reached $126 million ($0.84/share), up 165% from Q1 2025, supporting a robust balance sheet and capital returns.

• Operational improvements at both Eagle River and Kiena mines are driving increased flexibility, productivity, and lower unit costs.

• Exploration remains a core focus, with over 270 km of drilling planned for 2026 and significant new discoveries at both sites.

Financial highlights

• Q1 2026 revenue reached $300 million, net income $119 million ($0.79/share), EBITDA $212 million, and operating cash flow $162 million.

• Revenue increased by 60% and net income by 90% compared to Q1 2025.

• Free cash flow was $126 million ($0.84/share), representing 42% of revenue, among the highest in the sector.

• All-in sustaining costs (AISC) averaged US$1,707/oz; Eagle River at US$1,616/oz, Kiena at US$1,844/oz, impacted by higher labor and consumable costs.

• Cash and cash equivalents at quarter-end were $431 million, with total liquidity of $773 million and no debt.

Outlook and guidance

• 2026 consolidated gold production guidance is 180,000–205,000 oz at all-in sustaining costs of US$1,525–1,700/oz.

• Full-year consolidated production and cost guidance maintained; Eagle River production expected to be evenly distributed, Kiena weighted to H2.

• Capital investment for 2026 projected at $205 million, with sustaining and growth capital detailed for each mine.

• Consolidated AISC expected to peak in Q2, then decline as supply chain savings are realized.

• Updated technical reports and life-of-mine plans to be released in late June 2026.