Newmont Corporation (NEM) Q3 FY2026 earnings

Reported results

• Attributable gold production of 1.3 million ounces; gold by-product CAS of $832 per ounce and gold by-product AISC of $1,454 per ounce for Q3 2026
• GAAP net income attributable to Newmont stockholders of $2.5 billion or $2.35 per diluted share; non-GAAP adjusted net income of $2.3 billion or $2.20 per diluted share
• Non-GAAP adjusted EBITDA of $4.0 billion for Q3 2026; non-GAAP free cash flow of $1.9 billion
• Generated $2.8 billion of cash from operating activities, net of working capital impacts of $565 million
• Declared dividend of $0.26 per share for Q3 2026; repurchased $1.6 billion of common stock since last earnings call with $2.8 billion remaining under $6.0 billion authorized program
• Ended quarter with $8.8 billion of cash and $12.8 billion total liquidity; net cash position of $3.2 billion before planned $1.95 billion payment to Barrick

Guidance

• 2026 full-year attributable gold production guidance of 5.3 million ounces (5,260 thousand ounces); Q4 2026E production of 1,365 thousand ounces
• 2026 gold by-product CAS guidance improved to $925 per ounce; Q4 2026E guidance of $1,250 per ounce
• 2026 gold by-product AISC guidance improved to $1,520 per ounce; Q4 2026E guidance of $1,900 per ounce
• 2026 sustaining capital guidance of $1.95 billion; Q4 2026E of $600 million
• 2026 development capital guidance of $1.4 billion; Q4 2026E of $520 million
• 2026 co-product guidance: copper production of 102 thousand tonnes, silver production of 32 million ounces, lead production of 90 thousand tonnes, zinc production of 220 thousand tonnes
• 2027 indications: attributable gold production expected to increase by low-to-mid single-digit percentage compared to 2026; development capital spend expected to increase by approximately $500 million compared to 2026

Notes

Red Chris Block Cave project feasibility study nearing completion with full-funds investment decision expected in early 2027; Tanami Expansion 2 shaft construction completed with commercial production now expected in first half of 2027, ahead of schedule. Company is advancing Red Chris Block Cave with receipt of CAD$500 million contribution from Government of Canada announced in July 2026, with terms expected to be finalized in coming months. Newmont ended Q3 2026 with net cash position of $3.2 billion before planned $1.95 billion payment to Barrick under amended NGM agreement expected in Q4 2026.

Price and volatility reaction

The stock moved -4.6% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -4.4 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-10-22 (8-K, Item 2.02). Read the original filing on sec.gov.