| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 1.1K | 26.8% | 125.9% |
| Total Income | 1.1K | 26.8% | 125.9% |
| Expenditure | 869.08 | 71.4% | 155.2% |
| PBT | 215.09 | 38.3% | 61.3% |
| Net Profit | 121.85 | 50.6% | 72.3% |
| OPM | 19.94% | 20.84pp | 9.21pp |
| NPM | 11.22% | 17.60pp | 3.49pp |
| EPS | 0.12 | 66.7% | 9.1% |
Coeur Reports Record Second Quarter 2026 Results
06 Aug 2026 · 6 Aug, 2:24 am
Summary
Coeur Mining, Inc. announced record-breaking results for the second quarter of 2026, driven by the first full quarter of operations from the New Afton and Rainy River acquisitions. Revenue surged to $1.1 billion, a 126% year-over-year increase, while adjusted EBITDA reached a record $478 million. The company also reported a significant increase in free cash flow to $388 million and more than doubled its cash balance to $1.1 billion. Management highlighted the strong performance across its portfolio, including record gold output, and the successful launch of its enhanced capital return program.
Key Highlights
- 1
Coeur reported record revenue of $1.1 billion for the second quarter of 2026, an increase of 27% quarter over quarter and 126% year over year.
- 2
Record quarterly adjusted EBITDA of $478 million was achieved, a 124% increase year over year.
- 3
Free cash flow reached $388 million, marking a 45% increase quarter over quarter and a 165% increase year over year.
- 4
The company's cash balance more than doubled since year-end 2025, reaching $1.1 billion at quarter-end.
- 5
Gold production hit a record 163,490 ounces, up 51% year over year, driven by contributions from New Afton and Rainy River.
- 6
An enhanced capital return program was initiated, including $121 million in common stock repurchases and an inaugural $0.02 per share dividend.
Management Comments
Mitchell J. Krebs
Record second quarter results reflected the growing momentum from the platform of North American precious metals assets we’ve built through a combination of disciplined investments in organic growth and two well-timed acquisitions. Results were largely driven by the first full quarter of contribution from the newly acquired, lower-cost New Afton and Rainy River operations along with steady performance from our five other North American assets despite lower grades at three of our legacy operations. Most notably, Rochester achieved a 15% quarter-over-quarter increase in tonnes crushed to a quarterly record of 6.8 million tonnes, and Wharf nearly doubled its production. The second quarter also marked the launch of our enhanced capital return policy with $121 million of share repurchases made through the end of July and an inaugural dividend paid in June, all while significantly bolstering our cash levels to over $1.0 billion at quarter-end. Integration efforts since our acquisition of New Gold closed in late March have continued to progress according to plan. After operating Rainy River and New Afton for a full quarter, we are refining our partial-year 2026 guidance ranges at both new Canadian operations to reflect more achievable ramp-up timetables for underground mining activities at Rainy River and the development of the new C-Zone at New Afton this year. Full-year production and cost guidance ranges remain unchanged at all five of our legacy operations. As we look to the second half of our back-weighted year, we expect sharp increases in our production levels and free cash flow to drive record full-year 2026 results despite lower assumed metals prices relative to the first half of the year. Compared to 2025, we anticipate delivering strong double-digit gold and silver production increases and generating approximately $2.3 billion of adjusted EBITDA1 (compared to $1.0 billion in 2025) and $1.5 billion of free cash flow1 (compared to $666 million in 2025) with a year-end cash balance approaching $2.0 billion.
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