Coeur Mining (CDE) Q1 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of $856 million, up 138% year-over-year, with net income of $247 million and adjusted EBITDA of $475 million, driven by higher gold, silver, and copper production and prices, and the integration of New Gold assets (New Afton and Rainy River) with only 11 days of contribution.

• Cash and equivalents rose to $843 million, nearly eleven-fold year-over-year and up 52% sequentially.

• Free cash flow totaled $267 million despite over $200 million in one-time outflows.

• Announced a $750 million share repurchase program and initiated a semi-annual dividend of $0.02 per share.

• Integration of New Gold assets progressing smoothly, positioning for significant production and cash flow growth in 2026.

Financial highlights

• Q1 2026 revenue was $856.2 million, up 27% sequentially and 138% year-over-year.

• Net income reached $247 million, up 15% sequentially and 639% year-over-year.

• Adjusted EBITDA was $475 million, up 12% sequentially and nearly quadruple year-over-year.

• Free cash flow was $267 million, up 1,413% year-over-year.

• Cash flow from operating activities was $341 million.

Outlook and guidance

• 2026 production guidance reaffirmed: 680,000–815,000 oz gold, 18.7–21.9 million oz silver, 50–65 million lbs copper.

• Adjusted CAS guidance: gold $1,000–$2,350/oz, silver $12.50–$25.00/oz, copper $1.20–$1.35/lb.

• Capital expenditures expected at $437–$526 million; exploration investment $147–$169 million.

• Effective tax rate projected at 30–36%.

• Guidance includes full monetization of inherited stockpiles and work-in-process inventory.