Quarterly ResultMay 6, 2026, 05:08 PM
McEwen Q1 Net Income $33.38M; Revenue $74.05M, up 107%
AI Summary
McEwen Inc. reported a net income of $33.38 million for Q1 2026, a significant turnaround from a net loss of $6.27 million in Q1 2025. Revenue from gold and silver sales more than doubled to $74.05 million, up 107% year-over-year. The company also saw a substantial increase in income from equity method investments and generated $12.10 million in cash from operating activities.
Key Highlights
- Net income was $33.38 million in Q1 2026, reversing a $6.27 million loss in Q1 2025.
- Revenue from gold and silver sales increased 107% to $74.05 million in Q1 2026.
- Basic earnings per share (EPS) was $0.56 in Q1 2026, compared to a loss of $0.12 in Q1 2025.
- Gross profit rose to $31.50 million in Q1 2026 from $10.07 million in Q1 2025.
- Income from equity method investments was $30.34 million, compared to an $8.07 million loss in Q1 2025.
- Cash provided by operating activities totaled $12.10 million, up from $1.93 million cash used in Q1 2025.
- Total assets grew to $972.60 million as of March 31, 2026, from $820.22 million at December 31, 2025.
- The company completed the acquisition of Canadian Gold Corp., adding $57.70 million to common shares.