Earnings review- Agnicoeagle mines(AEM) Q2 2026
Muffett Investments
Earnings Watch · Stock Analysis Division
Earnings Review
1 August 2026
◆ Basic Materials · Gold
Agnico Eagle Mines Limited
Report Period
Q2 FY2026
Reported: 2026-07-29
Headline
Strong Beat
✓ Strong Beat
Key Metrics at a Glance
Revenue Growth
+35.0%
YoY
Operating Margin
60.0%
+638bps YoY
Free Cash Flow
$1.3B
+2.2% YoY
Net Position
Net Cash
$3.1B
EPS (Diluted)
$11.68
N/A
Financial Metrics — Detailed Breakdown
| Metric | Q2 FY2026 | Q2 FY2025 | YoY Change | Consensus Est. | vs. Estimate |
|---|---|---|---|---|---|
| Total Revenue | $3.8B | $2.8B | +35.0% | — | N/A |
| Gross Profit | $2.4B | $1.6B | +47.0% | — | N/A |
| Gross Margin | 63.8% | 58.6% | +520bps | — | N/A |
| Operating Income | $2.3B | $1.5B | +51.1% | — | N/A |
| Operating Margin | 60.0% | 53.6% | +638bps | — | N/A |
| Net Income | $1.6B | $1.1B | +49.8% | — | N/A |
| Net Margin | 42.1% | 38.0% | +414bps | — | N/A |
| Operating Cash Flow | $2.1B | $1.8B | +16.2% | — | N/A |
| Free Cash Flow | $1.3B | $1.3B | +2.2% | — | N/A |
| FCF Margin | 34.9% | 46.2% | -1124bps | — | N/A |
| Total Debt | $320.4M | $733.7M | -56.3% | — | N/A |
| Cash & Equivalents | $3.5B | $1.6B | +122.4% | — | N/A |
| Net Cash / (Debt) | $3.1B | $823.9M | +281.6% | — | N/A |
| EPS (Diluted) | $11.68 | $N/A | N/A | $— | N/A |
⚠ Management Commentary — Signals
- No significant red flags detected in EDGAR filing.
📈 Price Reaction
Pre-Earnings Close
$143.71
2026-07-29
Post-Earnings Price
$144.43
Next trading session
1-Day Move
+0.50%
vs. market
52-Week Range
$126.93 – $255.24
Price data sourced from Yahoo Finance. Reaction shown vs. prior trading session close.
Our Verdict
Very Bullish
Agnico reported a strong beat quarter, with revenue grew +35.0% YoY to $3.8B. operating margins expanded by 638bps to 60.0%. Free cash flow came in at $1.3B. The balance sheet remains healthy with a net cash position.
- Revenue grew strongly at +35.0% YoY — well above average.
- Operating margin expanded strongly by 638bps — profitability improving.
- Net cash position of $3.1B — fortress balance sheet underpins shareholder returns.
- Modest positive price reaction of +0.5% — market broadly satisfied but not euphoric.
