NEM - Gold Miner Newmont Misses Q3 Earnings On Production Decline Due To Strike Slashes FY23 Guidance | Benzinga
Newmont Corp (NYSE: NEM) reported Q3 FY23 revenue decline of 5% Y/Y to $2.49 billion, missing the consensus of $2.90 billion, impacted by lower sales volumes.
Gold production declined 13% Y/Y to 1.291 million ounces due to lower production at Peñasquito, Akyem, and Ahafo mines.
Gold Costs Applicable to Sales (CAS) rose to $1,019 per ounce from $968 per ounce, and gold All-In Sustaining Costs (AISC) rose 12% Y/Y to $1,426 per ounce.
The average realized gold price rose 14% Y/Y to $1,920 per ounce.
Adjusted EBITDA rose 10% Y/Y to $933 million in Q3. Adjusted EPS of $0.36