Newmont Mining (NYSE: NEM) reported Q2 EPS of $0.26, $0.02 better than the analyst estimate of $0.24. Revenue for the quarter came in at $1.66 billion versus the consensus estimate of $1.79 billion.

• Net income: Delivered GAAP net income from continuing operations attributable to stockholders of $274 million or $0.51 per diluted share; delivered adjusted net income1 of $144 million or $0.26 per diluted share, down 43 percent compared to the prior year quarter
• Revenue: decreased 11 percent to $1,662 million for the quarter primarily due to lower production, partially offset by higher average realized gold prices.
• EBITDA: Generated $545 million in adjusted EBITDA2, down 22 percent from the prior year quarter
• Cash flow: Reported consolidated cash flow from continuing operations of $401 million and free cash flow3 of $143 million
• Gold costs applicable to sales (CAS)4: Reported CAS of $751 per ounce, with no change to the Company’s full year guidance
• Gold all-in sustaining costs (AISC)5: Reported AISC of $1,024 per ounce, with no change to the Company’s full year guidance
• Attributable gold production: Produced 1.16 million ounces of gold, in line with the Company’s full year guidance
• Portfolio improvements: Agreement to acquire 50 percent ownership interest in Galore Creek from NovaGold, partnering with Teck; completed the Twin Underground and Northwest Exodus projects in Nevada; advanced the Akyem Underground project to prefeasibility study in Africa; welcomed Sumitomo Corporation as a new five percent partner at Yanacocha in Peru; and divested royalty portfolio forming a strategic partnership with Maverix Metals
• Financial strength: Ended the quarter with $3.1 billion cash on hand and net debt under $1.0 billion; an industry-leading balance sheet with investment-grade credit profile; and a quarterly dividend declared of $0.14 per share, an increase of 87 percent over the prior year quarter
• Outlook: Maintained corporate-level production, unit cost and capital outlook for 2018

“Newmont delivered $545 million in adjusted EBITDA and $143 million in free cash flow in the second quarter, as strong operational performance helped offset the impacts of geotechnical challenges and back-half weighted results,” said Gary J. Goldberg, President and Chief Executive Officer. “We continued to add lower cost production by completing our Twin Underground and Northwest Exodus projects safely, on budget and ahead of schedule. And we invested in future value-creation by forging a partnership with Teck to advance prefeasibility studies on Galore Creek in British Colombia, one of the world’s largest undeveloped copper-gold deposits, and with Sumitomo to develop Yanacocha Sulfides in Peru.”

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