Canada's Equinox Gold Q1 revenue hit by winter; adjusted EPS beats consensus

Equinox Gold

06/05/2026 22:21

Overview

Canada gold miner's Q1 revenue declined and missed analyst expectations, adjusted EPS beat consensus

Company repaid $990 mln in debt, launched share buyback and paid inaugural dividend

Winter conditions affected mining productivity and grades at Canadian operations, with improvement expected

Outlook

Equinox Gold maintains 2026 consolidated production guidance of 700,000 to 800,000 oz gold

Company expects Canadian production to average 543,000 oz per year from 2026-2036

Valentine Phase 2 expansion targeted for H2 2026, aiming to double throughput to 5 Mtpa

Result Drivers

WINTER WEATHER IMPACT - Severe winter conditions in Canada led to lower mining productivity and grades at Greenstone and Valentine, resulting in production volumes below plan

PLANT PERFORMANCE - Process plants at Greenstone and Valentine operated at or above nameplate capacity despite weather challenges, supporting production

ASSET SALE AND DEBT REPAYMENT - Sale of Brazil assets enabled repayment of $990 mln in debt and initiation of share buyback and dividend

Company press release: ID:nGNX1STj2f

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$861.60 mln
$933.42 mln (2 Analysts)
Q1 Adjusted EPS
Beat
$0.30
$0.27 (4 Analysts)
Q1 Adjusted Net Income
Miss
$234 mln
$243.78 mln (1 Analyst)
Q1 Net Income
$310.10 mln
Q1 Adjusted EBITDA
$527.20 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the gold peer group is "buy"

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 15 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)