Q1 26 EPS Adjusted
$2.90
BEAT +30.58%
Est. $2.22
Q1 26 Revenue
$7.31B
BEAT +13.40%
Est. $6.44B
vs S&P Since Q1 26
-6.6%
TRAILING MARKET
NEM +2.1% vs S&P +8.7%
Market Reaction
Did NEM Beat Earnings? Q1 2026 Results
Newmont delivered a blowout first quarter for fiscal 2026, extending its streak of consensus beats to four consecutive quarters as a surge in gold prices powered results well above analyst expectations. The mining giant posted adjusted diluted EPS of… Read more Newmont delivered a blowout first quarter for fiscal 2026, extending its streak of consensus beats to four consecutive quarters as a surge in gold prices powered results well above analyst expectations. The mining giant posted adjusted diluted EPS of $2.90, beating the $2.22 consensus by 30.58%, while revenue of $7.31 billion topped estimates by 13.40% and rose 50.00% year over year. The single most decisive factor was gold's dramatic price appreciation, with Newmont realizing an average of $4,900 per ounce during the quarter, up sharply from $2,944 a year ago, lifting both margins and free cash flow to levels the company described as quarterly records. Gold by-product all-in sustaining costs fell 21% sequentially to $1,029 per ounce, further amplifying profitability. On the strength of these results, Newmont repurchased $2.40 billion in shares and authorized a fresh $6.00 billion buyback, while reaffirming full-year production guidance of 5.26 million attributable gold ounces, with roughly 52% of output weighted to the second half.
Key Takeaways
- • Average realized gold price increased to $4,900/oz from $2,944/oz year-over-year
- • Gold by-product AISC decreased 21% sequentially to $1,029/oz
- • Favorable silver and copper co-product volumes and prices reduced by-product CAS
- • Ongoing cost discipline and productivity initiatives
- • Lower sustaining capital spend in Q1 versus prior quarters
- • Copper production increased 3% QoQ driven by higher Cadia grade and throughput
- • Silver production increased 29% QoQ driven by higher Peñasquito co-product grades
NEM YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
NEM Revenue by Segment
With YoY comparisons, source: SEC Filings
“Newmont delivered strong operational and financial performance in the first quarter, producing approximately 1.3 million attributable gold ounces and generating an all-time record $3.1 billion in quarterly free cash flow, keeping us well on track to achieve our 2026 guidance”
— Natascha Viljoen, Q1 2026 Earnings Press Release
NEM Earnings Trends
NEM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NEM EPS Trend
Earnings per share: estimate vs actual
NEM Revenue Trend
Quarterly revenue: estimate vs actual
NEM Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.98 | $2.10 | +6.00% | $6.12B | -3.04% |
| Q1 26 BEAT | $2.22 | $2.90 | +30.58% | $7.31B | +13.40% |
| Q4 25 BEAT FY | $2.02 | $2.52 | +24.83% | $6.82B | +9.00% |
| FY Full Year | $6.46 | $6.89 | +6.66% | $22.67B | +2.28% |
| Q3 25 BEAT | $1.44 | $1.71 | +18.58% | $5.52B | +4.77% |
| Q2 25 BEAT | $1.16 | $1.43 | +22.91% | $5.32B | +8.15% |
| Q1 25 BEAT | $0.90 | $1.25 | +38.18% | $5.01B | +5.69% |