Skip to main content
NEM $117.76 +3.13%
NEM logo

NEM · NEWMONT Corp /DE/

Track NEM — free
$117.76 +3.57 (+3.13%) At close · Aug 14
Market Cap
$124.08B
Shares
1.05B
All earnings calls

Earnings call · FY2026 Q2

Newmont’s Second Quarter 2026 Results Conference Call

Newmont’s Second Quarter 2026 Results Conference Call

Concluded Jul 23, 2026 Audio replay
Jul 23, 2026 21:20 13 turns
Period
FY2026 Q2
Runtime
21:20
Sources
4 artifacts

Executive readout · one minute

What matters this quarter

Newmont reported a strong second quarter 2026, producing 1.3 million attributable gold ounces and generating a record $2.2 billion in free cash flow while reaffirming full-year guidance. The company returned $1.9 billion to shareholders and advanced key projects including Red Chris regulatory approvals.

Free cash flow and shareholder returns 30 Operational performance and production 23 Growth projects and capex 16 Barrick / NGM joint venture dispute 8 Cadia recovery from seismic event 8 Capital allocation framework 5

Management tone

Confident

Net tone +62 · low hedging

Grounding quotes
  • “Newmont delivered a strong second quarter and remains on track to achieve a full year 2026 guidance, supported by disciplined execution across the portfolio and continued momentum as we head into the second half of the year.”
  • “$2.2 billion of free cash flow”
  • “Our second quarter results also demonstrate the significant operating leverage embedded in the portfolio.”
  • “We have now repurchased over 100 million shares since we began our share repurchase program a little over two years ago. This is a meaningful milestone”

Research coverage

4 live sources

Switch sources without leaving this page or losing your listening position.

Revenue $6.12B +15.1% YoY
Diluted EPS $2.06 +11.4% YoY
Net income $2.20B +6.8% YoY

Research materials

Open the source you need; every reader stays inside this workspace.

Key takeaways

What improved, and what deserves a closer read.

Constructive signals

  • Q2 free cash flow of $2.2 billion was a record for the second quarter
  • Adjusted EBITDA of $3.8 billion and adjusted net income of $2.10 per diluted share
  • Year-to-date AISC of $1,621/oz tracking well below full-year guidance of $1,680/oz
  • Returned $1.9 billion to shareholders, a second consecutive quarter returning more than 80% of free cash flow
  • Repurchased over 100 million shares (~9% of shares outstanding) since February 2024, with $4.3 billion remaining under the $6 billion authorization
  • Realized gold price of $4,414/oz, approximately $1,100/oz (~33%) higher year-over-year while CAS rose only 4%

Risks & pressure points

  • Higher oil prices and higher Ghana royalties contributed to expected sequential cost increases
  • Working capital was a modest use of cash and may partially unwind in the second half, including potential reversal of receivable benefit at Peñasquito and Cadia
  • Approximately 50,000 ounces of production pulled forward from the second half into Q2, leaving ~51% of full-year production weighted to the second half
  • Cadia production was disrupted by an April 14 seismic event with remaining ground support upgrades and regulatory approvals still required to safely restart
  • Dispute with Barrick over Nevada Gold Mines JV remains unresolved, with notice of default issued and key issues still open near the end of direct engagement
  • Sustaining capital (~58% weighted to H2) and development capital (~63% weighted to H2) are back-loaded, creating second-half spending pressure

Key moments

Jump directly to management's words in the synchronized transcript.

Quarter detail

How the reported period landed and where the business moved.

Revenue · products & services

Gold Dore$4.28B +30% YoY
Sales from Concentrate and Other Production$1.84B -9.2% YoY

Capital returned

Buybacks · derived
$1.57B
Shares repurchased
14.38M
Dividend / share
$0.26
Full-screen source Call document