Quarterly ResultApr 29, 2026, 05:07 PM
CGAU Q1 Revenue +62% to $484.7M; Net Earnings +160% to $79.4M
AI Summary
Centerra Gold Inc. reported strong financial results for Q1 2026, with revenue up 62% to $484.7 million and net earnings increasing 160% to $79.4 million year-over-year. Adjusted net earnings and free cash flow also saw significant growth. Gold production rose 15% and copper production increased 21%. However, molybdenum roasting was down 58% due to a temporary suspension at the Langeloth Facility following an incident in January, though operations provisionally resumed in April. The company is progressing with the Thompson Creek Mine restart and Goldfield Project construction, while also dealing with a $22.4 million royalty payment related to the Mount Milligan Mine, which it is appealing.
Key Highlights
- Revenue increased 62% to $484.7 million in Q1 2026 from $299.5 million in Q1 2025.
- Net earnings rose 160% to $79.4 million in Q1 2026 from $30.5 million in Q1 2025.
- Adjusted net earnings grew 234% to $88.2 million in Q1 2026 from $26.4 million in Q1 2025.
- Free cash flow surged 390% to $49.0 million in Q1 2026 from $10.0 million in Q1 2025.
- Gold production increased 15% to 68,001 ounces; Copper production rose 21% to 14.2 million pounds.
- Langeloth Facility operations were temporarily suspended in January 2026 due to an incident, provisionally resuming in April.
- Thompson Creek Mine restart is on track for mid-2027 first production, with $204.6 million capital spent to date.
- Goldfield Project construction was approved, targeting first production by the end of 2028.
Price Impact
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