Barrick Gold (TSE: ABX) has unveiled its second-quarter financial performance, showcasing robust growth across key metrics. The company’s net earnings surged by 25%, with attributable EBITDA margin also climbing by an impressive 17% quarter on quarter to reach 48%.
Operating cash flow saw a substantial increase, reaching $1.16 billion, marking a $340 million rise from the previous quarter. Net earnings per share rose by 24% to 21 cents, while adjusted net earnings per share exhibited a substantial 68% increase, reaching 32 cents. Reuters has reported that Barrick’s Q2 results surpassed Wall Street estimates, reflecting the company’s strong operational performance.
In terms of production, Barrick Gold reported 948,000 ounces of gold in the second quarter, marking a slight 0.8% increase from the prior quarter but a 6% decrease compared to the same period a year ago. All-in sustaining costs stood at $1,498, showing a moderate 1.6% increase from the previous quarter.
The company benefited from a rise in average realized gold prices, which increased by 12% to $2,344 in the second quarter. Additionally, Barrick Gold declared a dividend of 10 cents per share, underscoring its commitment to rewarding shareholders.
Market response to Barrick Gold’s strong performance was positive, with the company’s shares surging by 8% to $25.98 per share as of 1:30 p.m. ET. The impressive financial results and surpassing of market expectations demonstrate Barrick Gold’s resilience and operational strength in the current economic landscape.
