Newmont Beats EPS but Misses Revenue as Record Cash Fuels Returns

Overview

• The company reported results on Friday, July 24, 2026, with adjusted EPS of $2.10 that beat estimates and revenue of $6.1 billion that missed consensus.
• Newmont generated a Q2 record $2.2 billion in free cash flow and returned $1.9 billion to shareholders through dividends and buybacks, bringing first-half free cash flow to $5.3 billion.
• Gold output fell to 1.29 million ounces after an April earthquake at the Cadia mine reduced Q2 production, yet management reaffirmed full-year guidance of 5.3 million ounces and said operations have resumed at Cadia.
• All-in sustaining cost was $1,621 per ounce, below the $1,680 full-year target, while realized gold averaged $4,414 per ounce and higher fuel prices pushed some operating cost pressure.
• The board-cleared Red Chris approvals move the project forward toward a feasibility decision expected by year-end 2026 and Newmont ended Q2 with $3.4 billion net cash plus ongoing buybacks and the potential for a modest dividend increase.