Quarterly ResultJul 30, 2026, 05:17 PM
Eldorado Gold Q2 Revenue $487.5M, EPS $0.69; Skouries on Track
AI Summary
Eldorado Gold reported Q2 2026 revenue of $487.5 million and net earnings of $172.8 million ($0.69 basic EPS), driven by higher realized gold prices despite lower production. The Skouries project is 97% complete and on track for first production in Q3 2026, while McIlvenna Bay achieved first concentrate production and is ramping up. The company also announced significant management changes, including the retirement of CEO George Burns and the appointment of Christian Milau as his successor, alongside an updated 2026 gold production guidance and a declared quarterly dividend.
Key Highlights
- Q2 2026 Revenue: $487.5 million, up from $451.7 million in Q2 2025.
- Q2 2026 Net earnings attributable to shareholders: $172.8 million, or $0.69 basic EPS.
- Q2 2026 Gold production: 104,616 ounces, down from 133,769 ounces in Q2 2025.
- Skouries project 97% complete, first production expected Q3 2026, commercial production Q4 2026.
- McIlvenna Bay achieved first copper concentrate in June, first zinc concentrate in July, ramping up to commercial production Q3 2026.
- Updated 2026 annual gold production guidance to 495,000 to 600,000 ounces.
- George Burns to retire as CEO on September 30, 2026; Christian Milau appointed new President and CEO.
- Declared Q3 dividend of $0.075 per common share, payable September 15, 2026.
Price Impact
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