Earnings review - Newmont mining (NEM) Q2 2026

Muffett Investments

Earnings Watch · Stock Analysis Division

Earnings Review

28 July 2026

◆  Basic Materials · Gold

Newmont Corporation

NEM NYQ · Mkt Cap: $96.4B · Q2 FY2026 Results

Report Period

Q2 FY2026

Reported: 2026-07-23

Headline Strong Beat ✓ Strong Beat

Key Metrics at a Glance

↑

Revenue Growth

+15.1%

YoY

↑

Operating Margin

51.6%

+611bps YoY

↑

Free Cash Flow

$2.2B

+28.9% YoY

✓

Net Position

Net Cash

$3.4B

↑

EPS (Diluted)

$7.93

N/A

Financial Metrics — Detailed Breakdown

Metric	Q2 FY2026	Q2 FY2025	YoY Change	Consensus Est.	vs. Estimate
Total Revenue	$6.1B	$5.3B	+15.1%	—	N/A
Gross Profit	$3.4B	$2.7B	+27.1%	—	N/A
Gross Margin	56.0%	50.7%	+529bps	—	N/A
Operating Income	$3.2B	$2.4B	+30.5%	—	N/A
Operating Margin	51.6%	45.5%	+611bps	—	N/A
Net Income	$2.2B	$2.1B	+6.8%	—	N/A
Net Margin	36.0%	38.8%	-277bps	—	N/A
Operating Cash Flow	$2.9B	$2.4B	+22.7%	—	N/A
Free Cash Flow	$2.2B	$1.7B	+28.9%	—	N/A
FCF Margin	36.0%	32.2%	+388bps	—	N/A
Total Debt	$5.6B	$7.6B	-26.4%	—	N/A
Cash & Equivalents	$9.0B	$6.2B	+45.7%	—	N/A
Net Cash / (Debt)	$3.4B	-$1.4B	+339.9%	—	N/A
EPS (Diluted)	$7.93	$N/A	N/A	$—	N/A

⚠  Management Commentary — Signals

• No significant red flags detected in EDGAR filing.

📈  Price Reaction

Pre-Earnings Close

$95.75

2026-07-23

Post-Earnings Price

$94.72

Next trading session

1-Day Move

-1.08%

vs. market

52-Week Range

$61.76 – $134.88

 

−10%0%+10%

Price data sourced from Yahoo Finance. Reaction shown vs. prior trading session close.

Our Verdict

★★★★★

5 / 5 — Strong Beat

Very Bullish

Newmont reported a strong beat quarter, with revenue grew +15.1% YoY to $6.1B. operating margins expanded by 611bps to 51.6%. Free cash flow came in at $2.2B. The balance sheet remains healthy with a net cash position.

• ✓Revenue grew strongly at +15.1% YoY — well above average.
• ✓Operating margin expanded strongly by 611bps — profitability improving.
• ✓Free cash flow grew +28.9% YoY — strong cash generation continues.
• ✓Net cash position of $3.4B — fortress balance sheet underpins shareholder returns.
• →Muted price reaction (-1.1%) — results largely in-line with expectations.

This analysis is produced by Muffett Investments for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any security. Data sourced from Yahoo Finance and SEC EDGAR. Past performance is not indicative of future results.

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