Higher realized prices drove revenue growth despite lower volumes
Sales increased by $801M year over year to $6.118B. Gold sales rose $694M to $5.276B and silver sales rose $153M to $344M; Newmont attributed the increase primarily to higher realized prices, partly offset by lower volumes. Gold's realized-price effect added $1.304B to sales, while lower gold ounces sold reduced sales by $615M.
Net income rose, but non-operating items and tax remained offsets
Net income attributable to Newmont stockholders increased $141M year over year to $2.202B, or $2.06 per diluted share. Management said higher sales, led by realized gold prices, were partly offset by unrealized losses on marketable equity securities versus unrealized gains in the prior-year period; income and mining tax expense was $952M versus $1.092B in the prior year.
Cadia seismic event materially reduced production and raised unit costs
Seismic activity near Cadia on April 14, 2026 temporarily suspended underground mining. Cadia gold production fell 67% year over year to 34 thousand ounces, gold-equivalent-other-metals production fell 80% to 20 thousand ounces, and Cadia all-in sustaining costs increased to $3,151 per gold ounce from $1,109 per ounce; production was expected to return to pre-event levels in Q3 2026.