01—Abstract
Summary
Summary of the 10-Q filed July 23, 2026. Cited figures are marked; the original filing is the authoritative source.
Newmont Corporation (NEM) reported strong financial performance for the six months ended June 30, 2026, with net income attributable to Newmont stockholders reaching $5.46 billiona, a significant increase from $3.95 billion in the prior year period.
This growth was driven by robust sales, up to $13.42 billionb from $10.33 billion, largely due to higher average realized prices for gold and silver, despite a decrease in gold sales volumes. The company's operating cash flow also saw a substantial rise to $6.71 billion from $4.42 billion, indicating efficient operations. Newmont also actively managed its capital structure, repurchasing a significant amount of its common stock, demonstrating a commitment to shareholder returns.
The company's liquidity remains strong, with substantial cash and cash equivalents and available borrowing capacity. Key operational highlights include the achievement of commercial production at the Ahafo North project in Ghana and continued investments in development projects.
However, the company faced temporary operational impacts, notably at its Cadia operations in Australia due to seismic activity, which affected production and increased costs for the quarter. Despite these challenges, Newmont's diversified operations and strategic financial management position it well to navigate market dynamics and deliver shareholder value.
02—Key points
Key Highlights
- Net income attributable to Newmont stockholders increased to $5.46 billion for the six months ended June 30, 2026, up from $3.95 billion in the same period last year.
- Total sales rose to $13.43 billion for the six months ended June 30, 2026, compared to $10.33 billion in the prior year, driven by higher average realized gold and silver prices.
- Net cash provided by operating activities significantly increased to $6.71 billion for the six months ended June 30, 2026, from $4.42 billion in the prior year.
- The company repurchased $3.46 billion of its common stock during the six months ended June 30, 2026, as part of its ongoing shareholder return program.
- Cash and cash equivalents increased to $9.01 billion as of June 30, 2026, from $7.65 billion as of December 31, 2025, alongside $4.00 billion in available borrowing capacity.
- The Ahafo North project in Ghana achieved commercial production in the fourth quarter of 2025, contributing to segment results.
- Operations at Cadia experienced a temporary suspension due to seismic activity in the second quarter of 2026, impacting production and costs.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ2 FY2026filed July 23, 2026Financial Statements
Q2 FY2026 against Q2 FY2025
| Line item | Q2 FY2026Q2 FY2025 | Change |
|---|---|---|
| Revenue | $6.12B$5.32B | +15.1% |
| R&D Expenses | $47.00M$40.00M | +17.5% |
| Operating Expenses | $3.02B$2.25B | +34.4% |
| Net Income | $2.20B$2.06B | +6.8% |
| EPS (Basic) | $2.07$1.86 | +11.3% |
| EPS (Diluted) | $2.06$1.85 | +11.4% |
| Shares Outstanding (Basic) | 1.06B1.11B | −4.1% |
| Shares Outstanding (Diluted) | 1.07B1.11B | −4.0% |
05—Questions
Frequently Asked Questions
What were the primary drivers for the increase in Newmont's net income in the first half of 2026?
The primary drivers for the increase in net income were significantly higher sales, largely attributed to increased average realized gold and silver prices. Despite lower gold sales volumes, the favorable pricing environment contributed substantially to the improved profitability.
How did the Cadia seismic event impact Newmont's operations and financial results?
The seismic activity at Cadia led to a temporary suspension of underground mining operations in the second quarter of 2026. This resulted in a significant decrease in gold and gold equivalent ounce production, a substantial increase in costs applicable to sales per ounce, and higher depreciation and amortization per ounce due to lower sales volumes. All-in sustaining costs also saw a marked increase.
What is Newmont's current liquidity position and outlook?
Newmont maintains a strong liquidity position with cash and cash equivalents of $9.01 billion as of June 30, 2026, and an available borrowing capacity of $4.00 billion on its revolving credit facility. The company believes its liquidity and capital resources are adequate to fund operations, debt obligations, and future growth initiatives.
What is the company's strategy regarding capital allocation and shareholder returns?
Newmont follows a disciplined capital allocation strategy focused on maintaining financial flexibility, shareholder returns, a resilient balance sheet, and prudent capital investments. This includes a commitment to dividends and significant stock repurchase programs, demonstrated by $3.46 billion in common stock repurchases during the first half of 2026.
06—Continue