Canada · Delayed Price · Currency is CAD Endeavour Mining Earnings Call Transcripts
Fiscal Year 2025
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Delivered record production, free cash flow, and shareholder returns in 2025, with strong operational performance and sector-leading safety. Outlook remains robust with stable production, higher costs in 2026 due to stripping and royalties, and a commitment to significant shareholder returns.
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Strong year-to-date production and cash flow position the company to meet the top half of guidance, with sector-leading shareholder returns and a robust project pipeline. Cost control and operational improvements are expected to drive further gains in Q4 and 2026.
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Strong H1 2025 results with 647,000 oz gold at $1,281/oz AISC, $514M free cash flow, and $219M in shareholder returns. On track for full-year guidance, with robust balance sheet, ongoing growth projects, and sector-leading safety.
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Q1 2025 saw record free cash flow, strong gold production, and improved margins, with leverage reduced and shareholder returns prioritized. Segment performance was robust, and guidance for the year is reaffirmed, despite some regional regulatory risks and tax seasonality.
Fiscal Year 2024
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Delivered record gold production and free cash flow in 2024, enabling rapid deleveraging and sector-leading shareholder returns. Production is set to grow up to 14% in 2025, with stable costs and continued investment in organic growth and sustainability.
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Q3 saw record production and strong free cash flow, with both growth projects at nameplate capacity. Full-year output will be at the low end of guidance, but Q4 is expected to be strong, supporting further deleveraging and shareholder returns.
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Production and cash flow rose in Q2, driven by higher gold prices and new project ramp-ups, though costs increased due to power and royalty expenses. The company reaffirmed guidance, raised its dividend policy, and expects stronger H2 performance as grid power stabilizes.