Newmont Q1 2026 Earnings: Record Cash Flow and Profit as Gold Prices Surge
Newmont's revenue and profit roughly doubled from a year ago, powered by record-high gold prices, and the company posted its best-ever quarterly cash flow.
| Q1 2026 | Reported |
|---|---|
| EPS | $3.00 |
| Revenue | $7.31B |
Figures as reported by the company to the SEC for the quarter ended March 31, 2026. Analyst estimates are not part of a filing, so no comparison to expectations is shown.
Key takeaways
- Revenue climbed about 46% from a year earlier, driven mainly by sharply higher gold prices — the company said gold averaged near $4,900 an ounce during the quarter — rather than by mining more ounces.
- Gold production totaled 1.3 million ounces, helped by stronger output at mines including Cadia, Merian, Ahafo South, Yanacocha and Peñasquito.
- Newmont generated $3.1 billion in free cash flow (cash left over after running the business and paying for equipment and projects) — a record for the company, even after paying $1.3 billion in cash taxes.
- The very high margins in the fundamentals table (roughly two-thirds of revenue kept as gross profit, about a third as net profit) reflect that mining costs didn’t rise nearly as fast as gold prices, so extra revenue mostly flowed through to profit.
- Per-ounce mining costs (all-in sustaining costs) came in at $1,029 per ounce on a byproduct basis, which the company said was below its full-year target range, even as it flagged some cost pressure building.
- Management announced a new $6.0 billion share buyback authorization after completing the prior repurchase program, under which it bought back $2.4 billion of stock since the last earnings call.
- The board declared a quarterly dividend of $0.261 per share, equal to $1.04 per share on an annualized basis.
- The company said it remains on track to meet its full-year 2026 guidance, with development spending planned at about $1.4 billion for the year and sustaining capital spending expected to rise starting in the second quarter.
- Net income for the quarter roughly doubled from a year earlier, which the company described as its highest quarterly earnings and cash flow on record.
Q1 2026 in context
| Metric | Mar 2026 | Mar 2025 | Change |
|---|---|---|---|
| Revenue | $7.3B | $5.0B | +45.8% |
| Net income | $3.3B | $1.9B | +72.5% |
| Free cash flow | $3.1B | $1.2B | +160.9% |
| Diluted EPS | $3.00 | $1.68 | +78.6% |
| Net margin | 44.6% | 37.7% | +6.9 pts |
Figures for the quarter ended Mar 2026 and the quarter ended Mar 2025, as reported to the SEC.
How the stock took it
Newmont Corporation closed at $111.85 on Apr 22, 2026, the last session before the report, and at $120.70 on Apr 24, 2026, the first session after it — +7.9% across the report.
| Earlier report | Close before | Close after | Change |
|---|---|---|---|
| Oct 23, 2025 | $87.01 | $83.37 | -4.2% |
Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.
Sources: company report · reputable coverage