Wesdome Gold Mines (WDO) Q3 2026 earnings summary

Executive summary

• Q3 gold production was 41,287 oz, down 18% YoY; revenue rose 9% to $250.6M, net income to $89.7M and EBITDA 5% to $157.5M.

• 2026 production and AISC guidance were reaffirmed; output is expected below the production midpoint, with Q4 forecast as the strongest quarter.

• Q3 results were affected by Eagle River stope grade and incomplete sill mining, and Kiena staffing and planning issues that delayed higher-grade stopes.

• Priorities include improving execution, increasing throughput, extending mine life and converting exploration potential into resources and sustained cash flow growth.

Financial highlights

• Q3 revenue was $250.6M versus $230.3M YoY; net income was $89.7M versus $86.9M and EBITDA $157.5M versus $149.5M.

• Operating cash flow was $102.3M versus $118.2M YoY; free cash flow was $51.5M, or $0.36/share, versus $78.9M and $0.52/share.

• YTD free cash flow was $219.1M; FY 2026 free cash flow is expected to exceed the 2025 record of $278M.

• Q3 realized gold price averaged US$4,279/oz, up from US$3,523/oz; 12% fewer ounces were sold YoY.

• Consolidated Q3 AISC rose 26% YoY to US$1,789/oz sold; FY AISC is expected near the top of guidance.

Outlook and guidance

• 2026 production guidance remains 180,000–205,000 oz: Eagle River 105,000–115,000 oz and Kiena 75,000–90,000 oz; both mines are expected to finish within range.

• Consolidated cash costs may be up to 10% above US$1,050–1,150/oz guidance; AISC is expected near the top of its US$1,525–1,700/oz range.

• 2026 capital investment guidance remains $205M, split between $110M sustaining and $95M growth; YTD capital spend was $131.7M.

• 2027–28 production is forecast at 185,000–230,000 oz, with AISC of US$1,600–1,750/oz; Kiena’s contribution is expected to grow.

• Presqu’île commercial production is expected in Q1 2027; 2027 guidance and year-end results are scheduled for February 24.