Companies /Basic Materials

Newmont Corp

NYSE: NEM Gold
$130.43
▲ $5.52 (+4.42%) today
Markets closed · 7:41pm ET

Q1 2025 Earnings

Reported Apr 23, 2025, 4:06pm ET · SEC source
$1.25
Beat +38.18%
EPS · est. $0.90
$5.0B
Beat +5.69%
Revenue · est. $4.7B
−13.5%
Trailing market
NEM vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−2%0+2%+4%Apr 23Apr 24report 4:06pm ETearnings+2.3%+3.5%
−2%0+2%+4%Apr 23Apr 24earnings+2.3%+3.5%
NEM +3.5%S&P 500 +2.3%
−2%0+2%+4%Apr 23Apr 24report 4:06pm ETearnings+3.3%+3.5%
−2%0+2%+4%Apr 23Apr 24earnings+3.3%+3.5%
NEM +3.5%NASDAQ +3.3%
−4%0+4%Apr 22May 1report 4:06pm ETearnings+3.7%−4.8%
−4%0+4%Apr 22May 1earnings+3.7%−4.8%
NEM −4.8%S&P 500 +3.7%
−4%0+4%Apr 22May 1report 4:06pm ETearnings+5.1%−4.8%
−4%0+4%Apr 22May 1earnings+5.1%−4.8%
NEM −4.8%NASDAQ +5.1%
+4.80%
Day of report
−3.16%
Next session
−7.56%
One week
−5.37%
30 days

S&P 500 over the same 30 days: +8.13%.

Did NEM Beat Earnings? Q1 2025 Results

Newmont delivered a standout first quarter in 2025, reporting adjusted EPS of $1.25 against a consensus estimate of $0.9046 — a 38.18% beat — while revenue of $5.01 billion topped expectations by 5.69% and rose 25.2% year-over-year, underscoring the powerful tailwind of sharply higher realized gold prices. The average realized gold price surged to $2,944 per ounce, up from $2,090 a year earlier, serving as the single most consequential driver behind the quarter's record $1.21 billion in free cash flow and $2.63 billion in adjusted EBITDA. The results arrived as Newmont completed its non-core divestiture program — with Akyem and Porcupine sales closing in April — helping <a href="https://247wallst.com/investing/2025/10/23/earnings-newmont-nem-beats-earnings-shares-drop/">the company's shares climb</a> more than 50% year-to-date. Management reaffirmed full-year guidance of 5.9 million attributable gold ounces, though cautioned that Q2 free cash flow faces headwinds from peak development capital at Ahafo North and Cadia, higher tax payments, and ongoing Yanacocha water treatment construction costs.

Key Takeaways
  • Average realized gold price surged to $2,944/oz, up $854/oz year-over-year
  • Record first quarter free cash flow of $1.2 billion
  • Tier 1 Portfolio produced 1.3 million gold ounces, comprising the majority of total production
  • Successful completion of non-core divestiture program generating up to $4.3 billion in gross proceeds
  • Gain on sale of assets held for sale of $276 million
  • Increase in fair value of investments and options of $291 million

“Following on from a robust fourth quarter performance, Newmont has delivered 1.5 million attributable gold ounces and generated a record first quarter free cash flow of $1.2 billion, demonstrating the strength of our unrivaled Tier 1 Portfolio.”

Newmont CEO, on the earnings call

Forward Guidance & Outlook

Newmont remains on track to meet its previously published 2025 guidance of 5.9 million attributable gold ounces (5.6 million from Tier 1 Portfolio). Full-year Gold CAS is guided at $1,200/oz and Gold AISC at $1,630/oz. Total sustaining capital is expected at $1,875 million and development capital at $1,330 million. Production is expected to be approximately 48% weighted to H1 and 52% to H2, with second half growth driven by Nevada Gold Mines, Pueblo Viejo, and the addition of Ahafo North to commercial production. Q2 2025 production is expected to be relatively in line with Q1, while free cash flow faces headwinds from higher tax payments, peak development capital spending at Ahafo North and Cadia, and ramping Yanacocha water treatment facility costs. The adjusted tax rate for 2025 is estimated at 34%. Guidance assumes $2,500/oz gold, $9,370/tonne copper, $0.70 AUD/USD, and $0.75 CAD/USD exchange rates.

NEM YoY Financials

Q1 2025 vs Q1 2024 · SEC filings Q1 2024 Q1 2025
$0$2.0B$4.0B$4.0B$5.0BRevenue$166.0M$1.9BNet Income$931.0M$2.5BOperating Income
$0$2.0B$4.0BRevenueNet IncomeOperating Income

NEM Revenue by Segment

Gold$4.2B+27.0%
Copper$354.0M+19.0%
Silver$188.0M−6.0%
Zinc$181.0M+46.0%
Lead$42.0M−30.0%

Figures from SEC filings and company reports. Not investment advice.