Revenue: As of FY2026 Q2, the actual value is USD 6.118 B, missing the estimate of USD 6.31 B.

EPS: As of FY2026 Q2, the actual value is USD 2.06.

EBIT: As of FY2026 Q2, the actual value is USD 3.034 B.

Operational Performance

Newmont Corporation produced 1.3 million attributable gold ounces in Q2 2026, a 1% decrease from the prior quarter, remaining on track to achieve its full-year 2026 guidance of 5.3 million attributable gold ounces. The company produced 7 million ounces of silver and 17 thousand tonnes of copper in Q2 2026, representing decreases of 22% and 43% respectively from the prior quarter. Lead production was 18 thousand tonnes, down 33%, and zinc production was 40 thousand tonnes, down 35% compared to the prior quarter. Consolidated gold sales for the quarter were 1,195 thousand ounces.

Costs and Margins

Gold by-product Costs Applicable to Sales (CAS) were $1,043 per ounce in Q2 2026, an increase of 93% from the prior quarter, primarily due to lower gold and co-product volumes and lower silver pricing. Year-to-date costs are tracking below the full-year cost guidance of $1,055 per ounce. Gold co-product CAS per ounce was $1,463 in Q2 2026. Gold by-product All-In Sustaining Costs (AISC) increased by 58% to $1,621 per ounce for the quarter, mainly due to higher sustaining capital and incremental costs at Cadia. The full-year guidance for gold by-product AISC is $1,680 per ounce, and gold co-product AISC per ounce was $1,938.

Profitability

Net income attributable to Newmont Corporation stockholders was $2.2 billion in Q2 2026, a decrease of $1.1 billion from the prior quarter, primarily due to lower revenue from realized gold and silver prices. Adjusted net income was $2.2 billion, compared to $3.2 billion in the prior quarter, and Adjusted EBITDA for Q2 2026 was $3.8 billion.

Cash Flow

Newmont Corporation generated $2.9 billion of cash from operating activities in Q2 2026, a 23% decrease from the prior quarter, with a net working capital use of $90 million. The company reported Free Cash Flow of $2.2 billion, a 30% decrease from the prior quarter, primarily due to lower net cash from operating activities and higher capital investment.

Balance Sheet & Liquidity

Newmont Corporation ended Q2 2026 with $9.0 billion in cash and cash equivalents, with total liquidity at $13.0 billion and a net cash position of $3.4 billion. Total debt was $5,083 million, and lease and other financing obligations were $515 million as of June 30, 2026. The net cash position (net debt) was - $3,411 million.

Capital Allocation and Shareholder Returns

Newmont Corporation returned $1.9 billion to shareholders through share repurchases and dividend payments since the last earnings call. A dividend of $0.26 per share was declared for Q2 2026, equating to an indicated total annualized dividend of $1.04 per share. The company repurchased $1.7 billion of common stock, with $4.3 billion remaining under the $6.0 billion authorized program, reducing the share count by over 100 million shares, or approximately 9%, since February 2024. Expected sustaining capital investment for 2026 is $1.95 billion, with $819 million invested in the first half of the year, while expected development capital for 2026 is $1.4 billion, with $524 million invested in the first half of the year.

Reclamation Activities

Newmont Corporation spent $458 million on reclamation activities in the first half of 2026, including $351 million on Yanacocha water treatment plants. Total anticipated reclamation spending for 2026 is $850 million, with $550 million allocated to Yanacocha water treatment plants. The total estimated spend for Yanacocha water treatment plants is $1.8 billion, with $1.1 billion spent to date, and overall reclamation spend is expected to return to $300-$400 million in 2028.

Outlook and Guidance

Newmont Corporation remains on track to meet its full-year 2026 guidance, targeting 5.3 million attributable gold ounces at a gold by-product CAS of $1,055 per ounce and AISC of $1,680 per ounce. Attributable gold production in 2026 is expected to be approximately 51% weighted to the second half of the year, driven by increased production from several key assets. Sustaining and development capital spending is also projected to be higher in the second half of 2026 due to planned project timings and increased infrastructure work.