Key takeaways
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- Endeavour Mining swung to a Q3 pretax profit of $311 million vs. a $49 million loss a year earlier, driven by higher gold prices.
- EBITDA rose sharply to $472 million from $128 million; adjusted EBITDA increased to $466 million from $317 million.
- Q3 gold production was 264,000 oz at a cash cost of $1,569/oz.
- The company expects full-year output toward the top half of its 1.1–1.26 million oz guidance range and to meet its all-in sustaining cost (AISC) guidance of $1,150–$1,350/oz.
- Endeavour announced a share buyback of up to $14 million.
Quarterly Financial Performance - Pretax profit: $311 million, compared with a $49 million loss in the prior-year quarter.
- EBITDA: $472 million, up from $128 million.
- Adjusted EBITDA: $466 million, up from $317 million, reflecting improved underlying operating performance.
- The swing to profit underscores the leverage of Endeavour’s portfolio to higher gold prices and tighter cost control versus the prior year.
- Production and Cost Profile
- Gold production (Q3): 264,000 troy ounces.
- Cash cost: $1,569 per ounce.
- For the full year, management:
- Expects production to land in the top half of the 1.1–1.26 million ounce guidance range.
- Still guides to meeting its all-in sustaining cost (AISC) range of $1,150–$1,350 per ounce, implying potential margin expansion if spot prices remain supportive.
- Capital Returns and Shareholder Focus
- Endeavour also authorized a share buyback of up to $14 million, adding to its capital-return toolkit alongside reinvestment in its asset base. The move indicates management’s confidence in future cash flows and the current valuation of the equity.
- Outlook
- With stronger gold prices, production trending toward the upper end of guidance, and costs expected to remain within the guided AISC band, Endeavour appears positioned to continue generating solid cash flow while returning capital via buybacks.
