Newmont Mining (NEM) Tops Q4 EPS by 15c, Revenues Beat

Newmont Mining (NYSE: NEM) reported Q4 EPS of $0.40, $0.15 better than the analyst estimate of $0.25. Revenue for the quarter came in at $2.05 billion versus the consensus estimate of $1.88 billion.

“Newmont continued to deliver on its commitments in 2018, generating $2.6 billion in adjusted EBITDA and $805 million in free cash flow, and returning $400 million to shareholders through an industry-leading dividend and share repurchases,” said Gary J. Goldberg, Chief Executive Officer. “This performance gave us the means to complete expansions in the US and Africa, advance projects and exploration on four continents, and pursue an agreement to create the world’s leading gold business as measured by assets, people, prospects and value. Strong operational execution – including more than $600 million in Full Potential sustainable cost and efficiency gains and recognition for leading sustainability practices – was overshadowed, however, by the loss of seven colleagues during the year.”

Fourth Quarter 2018 Summary

• Net loss: Delivered GAAP net loss from continuing operations attributable to stockholders of $(3) million or $0.00 per diluted share; delivered adjusted net income of $214 million or $0.40 per diluted share, up $0.01 compared to the prior year quarter
• EBITDA: Generated $759 million in adjusted EBITDA, up five percent from the prior year quarter
• Cash flow: Reported consolidated cash flow from continuing operations of $742 million and free cash flow of $473 million
• Gold CAS: Reported CAS decreased five percent to $658 per ounce from the prior year quarter
• Gold AISC: Reported AISC decreased nine percent to $845 per ounce from the prior year quarter
• Attributable gold production: Produced 1.44 million ounces of gold, an increase of eight percent from the prior year quarter

For earnings history and earnings-related data on Newmont Mining (NEM) click here.

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