Eldorado Gold misses Q2 profit estimates on lower sales volume, higher costs

Eldorado Gold

30/07/2026 22:10

Overview
Canada gold miner's Q2 revenue rose yr/yr but missed analyst expectations
Adjusted EPS for Q2 missed analyst expectations
Gold production and sales fell yr/yr due to planned lower output at Kisladag and Efemcukuru

Outlook
Eldorado Gold sees 2026 consolidated gold production of 495,000 to 600,000 ounces
Company maintains 2026 guidance for operating mines at 430,000 to 490,000 ounces of gold
McIlvenna Bay 2026 production expected: 5-10 mln lbs copper, 3,000-6,000 tonnes zinc, 5,000-10,000 oz gold

Result Drivers
HIGHER GOLD PRICE - Revenue rose yr/yr due to a higher average realized gold price, partially offset by lower sales volumes
PRODUCTION COST INCREASES - Production costs rose due to higher royalties in Turkiye and Greece, and increased labor, contractor and maintenance costs
PLANNED LOWER OUTPUT - Gold production and sales fell yr/yr due to planned lower tonnes and ore grades at Kisladag and Efemcukuru, partially offset by higher production at Lamaque

Company press release: ID:nGNX7P9Jyf

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$487.50 mln
$563.44 mln (2 Analysts)
Q2 Adjusted EPS
Miss
$0.54
$0.74 (6 Analysts)
Q2 Net Income
 
$172.80 mln
 
Q2 Capex
 
$441.30 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the gold peer group is "buy."
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago

Reuters Recommended Reads
July 29 - Canada's Agnico Eagle Q2 net income rises on higher gold prices
July 29 - Canada's Kinross Gold Q2 revenue, profit benefit from higher prices
July 29 - Canada's Alamos Gold lowers 2026 production outlook

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)