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Sep 30, 2025
Newmont Q3 2025 Earnings Report
Newmont reported strong Q3 2025 results, with record free cash flow and improvements in guidance.
Key Takeaways
Newmont delivered a solid quarter with $5.52B in revenue, driven by high gold prices and strong operational performance. The company generated record free cash flow and improved its 2025 cost and capital guidance.
Reported net income of $1.8B and adjusted net income of $1.9B.
Achieved a record $1.6B in free cash flow for the quarter.
Produced approximately 1.42 million ounces of gold.
Improved 2025 guidance for cost metrics and capital spending.
Forward Guidance
Newmont improved 2025 guidance on costs and capital while maintaining production outlook in a higher gold price environment.
Positive Outlook
- Improved 2025 capital guidance by $200M.
- Lower expected G&A and exploration spend.
- Debt reduced by $2B, ending near-zero net debt.
- Stable gold production outlook for Q4 and FY 2025.
- Commercial production at Ahafo North expected in Q4.
Challenges Ahead
- Free cash flow expected to decrease in Q4 due to higher capital spending.
- Continued working capital headwinds in Q3 affected operating cash flow.
- Higher royalties and profit-sharing costs offset cost-saving benefits.
- Lower leach production expected at Yanacocha in Q4.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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