Canada · Delayed Price · Currency is CAD OceanaGold Earnings Call Transcripts
Fiscal Year 2026
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Record Q1 results with revenue, cash flow, and free cash flow all reaching new highs, supported by strong gold prices and disciplined cost management. Mine life extensions, robust exploration, and a strengthened balance sheet position the company for continued growth and shareholder returns.
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Record free cash flow and profitability in 2025 set the stage for 2026 production growth, lower costs, and increased shareholder returns. Major projects at Haile and Waihi North drive near- and medium-term growth, while a NYSE listing aims to boost liquidity.
Fiscal Year 2025
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Record 2025 results included all-time highs in EBITDA, net profit, and free cash flow, with a 225% share price increase and $200M returned to shareholders. 2026 guidance projects higher production, lower costs, and $432M in capital returns, supported by robust gold prices and growth investments.
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Q3 2025 delivered record revenue, strong free cash flow, and robust operational performance, with a 75% increase in the share buyback program and a strengthened balance sheet. Full-year guidance is reaffirmed, and major growth projects and technical studies are progressing on schedule.
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Record quarterly results with net profit of $118M, EPS of $0.49, and $120M free cash flow, driven by strong gold prices and operational execution. On track to meet 2025 guidance, with robust balance sheet, increased dividends, and active share buybacks.
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The meeting covered director elections, auditor appointment, and key resolutions, all of which passed. Strong 2024 results included record gold production, free cash flow, and profit, with major exploration and growth plans for 2025. Safety improvements and increased shareholder returns were highlighted.
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Q1 2025 saw strong production, cost control, and record gold prices drive revenue, profit, and free cash flow above expectations. All sites performed well, with major growth projects and exploration advancing, and the company remains on track for full-year guidance.
Fiscal Year 2024
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Record annual profit, free cash flow, and production were achieved, driven by strong performance at Haile and Waihi, with reserves up 27%. 2025–2026 guidance reflects higher costs from stripping and ore hardness, but 20% gold production growth is expected by 2026.
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The Waihi District PFS outlines a 15-year mine life extension, driven by the high-grade WUG, with robust economics, low costs, and significant exploration upside. Permitting is on track for 2025, with development to follow and funding secured from internal cash flow.
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Record Q3 gold production and free cash flow were achieved, with all major sites performing well except for DPO and Waihi, which saw revised guidance due to operational challenges. Strong gold prices and disciplined capital allocation support a positive outlook for Q4 and beyond.
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Q2 2024 saw lower production at Didipio and Waihi, but full-year guidance is maintained with a stronger H2 expected. The company achieved a net cash position, declared a dividend, and launched a share buyback, while safety incidents prompted enhanced operational reviews.
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A 30% gold production increase is targeted over the next three years, driven by organic growth at Haile and Macraes, with major projects like Palomino, Didipio optimization, and WKP advancing. Strong free cash flow, a net cash balance, and disciplined capital allocation support growth, dividends, and potential buybacks.
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The meeting covered board elections, approval of all resolutions, and a review of record 2023 financial results, including resumed dividends and strong production. Strategic plans target over 30% production growth by 2026, with a focus on safety, sustainability, and leadership development.