Newmont Q2 2026 Results Show Record Free Cash Flow

Newmont Corporation’s Q2 2026 results on July 23 showed record second-quarter free cash flow and an adjusted profit beat. The company reaffirmed full-year guidance and declared a quarterly dividend, reflecting stronger near-term cash flexibility despite softer gold prices.

Record Free Cash Flow and Operating Performance

For the quarter ended June 30, 2026, Newmont reported net income attributable to shareholders of $2.2 billion, or $2.06 per diluted share. Adjusted net income (non-GAAP) also reached $2.2 billion, or $2.10 per diluted share, marking an all-time second-quarter record. Adjusted EBITDA totaled $3.8 billion, while sales rose about 15% year over year to $6.1 billion. Cash from operating activities reached $2.9 billion, net of a $90 million working-capital impact.

Investor materials highlighted a record quarterly free cash flow of $2.2 billion and first-half free cash flow of $5.3 billion. Newmont CEO Natascha Viljoen said in the press release, “Newmont delivered another quarter of strong operational and financial performance, producing approximately 1.3 million attributable gold ounces and generating record second quarter free cash flow of $2.2 billion, while remaining on track to achieve our full-year 2026 guidance.” The company declared a quarterly dividend of $0.26 per share, payable September 28 to shareholders of record on September 3. Since the prior earnings call, Newmont returned $1.9 billion to shareholders through dividends and share repurchases, with cumulative repurchases exceeding 100 million shares. At quarter-end, cash stood at $9.0 billion, total liquidity was $13.0 billion, and net cash was $3.4 billion.

Production, Costs, and Guidance

Newmont produced approximately 1.3 million attributable gold ounces in the quarter, with an average realized gold price of $4,414 per ounce. The company also produced 17,000 tonnes of copper and 7 million ounces of silver. Gold sales totaled $5.3 billion. Production was below roughly 1.4 million ounces a year earlier, partly due to a temporary stoppage at the Cadia mine following a seismic event.

The company reported a second-quarter gold all-in sustaining cost (AISC)—a comprehensive measure of production cost—of $1,621 per ounce, below its full-year guidance of $1,680 per ounce. Newmont reaffirmed its full-year 2026 production guidance of 5.3 million attributable gold ounces. A secondary source cited a higher Q2 AISC of $1,938 per ounce, reflecting alternate cost allocations and site disruptions.

Despite a roughly 13% correction in gold prices during the quarter, Newmont’s higher year-over-year realized gold price helped offset lower production and localized disruptions. Management emphasized that anticipated production strength in the fourth quarter should support meeting full-year targets.

Capital Returns and Liquidity

Newmont declared a quarterly dividend of $0.26 per share, payable September 28 to shareholders of record on September 3. Since the prior earnings call, the company returned $1.9 billion to shareholders through dividends and share repurchases, with cumulative repurchases exceeding 100 million shares. At quarter-end, cash totaled $9.0 billion, total liquidity was $13.0 billion, and net cash stood at $3.4 billion.