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Mar 31
Newmont Q1 2025 Earnings Report
Newmont reported strong financial and operational performance in Q1 2025 with record free cash flow and robust gold production.
Key Takeaways
Newmont delivered record first quarter free cash flow of $1.2 billion and generated net income of $1.9 billion, backed by strong gold prices and successful asset divestitures.
Generated record Q1 free cash flow of $1.2 billion.
Sold non-core assets generating over $2.5 billion in after-tax cash proceeds.
Produced 1.54 million attributable gold ounces, primarily from Tier 1 assets.
Maintained a strong balance sheet with $4.7 billion in cash and $8.8 billion in liquidity.
Newmont
Newmont
Forward Guidance
Newmont reaffirmed its 2025 guidance with production and cost expectations aligned with forecasts, expecting higher output and capital spending in the second half of the year.
Positive Outlook
- On track to meet full-year 2025 gold production guidance of 5.9 million ounces.
- Higher production expected in H2 2025 from joint ventures and new projects.
- Strong liquidity position with $8.8 billion in available liquidity.
- Successful divestiture program reduces exposure to non-core assets.
- Robust free cash flow supports future capital returns and project investment.
Challenges Ahead
- Unit costs expected to be similar or slightly higher in Q2 2025.
- Lower Q2 free cash flow anticipated due to divestitures and tax payments.
- Production impacted by temporary safety-related disruptions at certain sites.
- Planned capital expenditures to peak in Q2 2025, increasing cash outflows.
- Working capital outflows continue due to inventory and reclamation spending.