10-QPeriod: Q2 FY2025

NEWMONT Corp /DE/ Quarterly Report for Q2 Ended Jun 30, 2025

Filed July 24, 2025For Securities:NEMNEMCL

Summary

Newmont Corporation reported a strong second quarter of 2025, with net income from continuing operations attributable to stockholders reaching $2.061 billion, a significant increase from $838 million in the prior year's quarter. This surge was driven primarily by higher average realized gold prices and substantial gains from the divestiture of non-core assets. Sales increased by 21% year-over-year to $5.317 billion. The company also benefited from favorable changes in the fair value of investments. Costs applicable to sales decreased overall due to the impact of divestitures, though excluding these impacts, costs saw an increase driven by higher contracted services, royalties, and labor costs, reflecting inflationary pressures. Financially, Newmont strengthened its balance sheet, with cash and cash equivalents increasing to $6.185 billion and net debt significantly decreasing to $1.422 billion. The company generated strong operating cash flow of $4.415 billion for the six months ended June 30, 2025. The company also continued its commitment to returning capital to shareholders through share repurchases and dividends. The successful completion of several divestitures, as part of its portfolio optimization strategy, contributed positively to the financial results, with the Coffee development project being the last remaining asset held for sale. Looking ahead, Newmont continues to focus on profitable growth and operational efficiency.

Financial Statements
Beta
Revenue$5.32B
R&D Expenses$40.00M
Operating Expenses$2.25B
Operating Income$3.95B
Net Income$2.06B
EPS (Basic)$1.86
EPS (Diluted)$1.85
Shares Outstanding (Basic)1.11B
Shares Outstanding (Diluted)1.11B

Key Highlights

  • 1Net income from continuing operations attributable to Newmont stockholders significantly increased to $2.061 billion in Q2 2025, up from $838 million in Q2 2024.
  • 2Total sales grew by 21% to $5.317 billion in Q2 2025, driven by higher average realized gold prices.
  • 3Costs applicable to sales decreased to $2.001 billion in Q2 2025 from $2.156 billion in Q2 2024, primarily due to asset divestitures.
  • 4Net debt was reduced significantly to $1.422 billion as of June 30, 2025, down from $5.308 billion at December 31, 2024.
  • 5Cash and cash equivalents increased substantially to $6.185 billion as of June 30, 2025.
  • 6The company generated robust net cash provided by operating activities of $4.415 billion for the six months ended June 30, 2025.
  • 7Newmont completed the sale of Akyem and Porcupine reportable segments in Q2 2025 as part of its portfolio optimization program.

Frequently Asked Questions

Newmont's significantly improved financial performance in Q2 2025 was primarily driven by a substantial increase in average realized gold prices, which boosted sales, and significant gains recognized from the completion of divestitures of non-core assets. Additionally, favorable changes in the fair value of investments contributed positively to the net income.

Newmont has made considerable progress in strengthening its balance sheet. Debt has been reduced through redemptions of senior notes. Consequently, net debt significantly decreased to $1.422 billion as of June 30, 2025, down from $5.308 billion at the end of 2024, reflecting the company's focus on deleveraging.

Newmont continued its portfolio optimization strategy by completing the sale of the Akyem and Porcupine reportable segments in the second quarter of 2025. The Coffee development project remains designated as held for sale. These divestitures are part of a broader program approved in February 2024 to optimize the company's asset portfolio.

Newmont generated strong cash flow from operations, with net cash provided by continuing operations amounting to $4.415 billion for the six months ended June 30, 2025. This represents a significant increase compared to the same period in 2024, primarily due to higher sales driven by improved gold prices and the favorable impact of divestitures.