- Newmont press release ( NYSE: NEM ): Q4 Non-GAAP EPS of $0.44 misses by $0.01 .
- Revenue of $3.2B (-5.6% Y/Y) beats by $100M .
- Achieved original production guidance range set in December 2021; produced 1.63 million attributable gold ounces and 296 thousand attributable gold equivalent ounces ( GEO ) of co-products in the fourth quarter, for a total of 6.0 million attributable gold ounces and 1.3 million attributable co-product GEOs in 2022.
- Reported fourth quarter gold Costs Applicable to Sales of $940 per ounce and All-In Sustaining Costsof $1,215; full year CAS of $933 per ounce and AISC of $1,211 per ounce are in line with updated guidance amidst industry-wide cost pressures.
- Generated $1.0 billion of cash from continuing operations and $364 million of Free Cash Flow in the fourth quarter, for a full-year total of $3.2 billion and $1.1 billion, respectively *.
- Ended the year with $2.9 billion of consolidated cash, $829 million of short-term time deposits and $6.7 billion of liquidity; reported net debt to adjusted EBITDA ratio of 0.5x .
- 2023 AND LONGER-TERM OUTLOOK HIGHLIGHTS: As previously signaled, 2023 production guidance is between 5.7 and 6.3 million gold ounces; steadily improves to between 6.1 and 6.7 million ounces in the longer-term.
- Gold CAS guidance is $870 to $970 per ounce and Gold AISC guidance is $1,150 to $1,250 per ounce for 2023.
- Sustaining capital guidance is $1.0 to $1.2 billion for 2023, consistent with longer-term averages.
- Development capital guidance is $1.2 to $1.4 billion for 2023 and 2024 during a period of meaningful reinvestment; longer-term development capital is expected to average between $0.8 to $1.0 billion per year.
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Newmont reports mixed Q4 earnings; initiates FY23 outlook