Quarterly ResultApr 29, 2026, 05:02 PM
KGC Q1 Free Cash Flow $837.5M (Record); EPS $0.70; Margins +92%
AI Summary
Kinross Gold reported strong first-quarter 2026 results, achieving record attributable free cash flow of $837.5 million, marking the fourth consecutive quarterly record. Margins increased by 92% year-over-year to $3,476 per gold equivalent ounce sold, outpacing the rise in gold price. The company returned approximately $350 million to shareholders year-to-date through share repurchases and dividends and is on track to meet its annual guidance. Significant progress was also made across its pipeline of development projects.
Key Highlights
- Record attributable free cash flow of $837.5 million, more than doubling from Q1 2025.
- Margins increased 92% YoY to a record $3,476 per Au eq. oz. sold, outpacing gold price.
- Reported net earnings more than doubled to $843 million, or $0.70 per share.
- Revenue increased 61% YoY to $2,407.7 million.
- Returned approximately $350 million to shareholders year-to-date in 2026.
- Cash and cash equivalents increased to $2.2 billion, with total liquidity of $3.9 billion.
- Great Bear AEX program 90% complete; Lobo-Marte Environmental Impact Assessment submitted.
- On track to meet 2026 annual guidance for production, costs, and capital expenditures.