Coeur Mining posted record Q2 revenue of $1.1B and net income of $122M, driven by the New Gold acquisition and strong output from Rochester and Wharf. The company repurchased $121M in shares and expects $2.3B in adjusted EBITDA for 2026.
CHICAGO – Coeur Mining reported record second-quarter revenue of $1.1 billion and net income of $122 million, or 12 cents a share, the company said Wednesday. Cash flow from operations hit $513 million. Adjusted EBITDA came in at $478 million, also a record.
The results included a non-cash charge of $140 million tied to purchase-price allocation for Rainy River's stockpile inventory, which reduced adjusted net income by 10 cents a share. Without that, adjusted net income was $123 million.
"Record second quarter results reflected the growing momentum from the platform of North American precious metals assets," Chairman and CEO Mitchell J. Krebs said in a statement. He pointed to the first full quarter of contribution from the newly acquired New Afton and Rainy River operations, plus steady performance from five other North American assets.
Rochester and Wharf Drive Production Gains
Rochester crushed 6.8 million tonnes in the quarter, up 15% from the first quarter and a record for the Nevada mine. Wharf, also in South Dakota, nearly doubled its gold production. Those gains helped offset lower grades at three legacy operations, Krebs said.
The company bought back $121 million of its own shares through the end of July and paid its first dividend in June. Cash and equivalents topped $1.0 billion at quarter-end.
Guidance Revised at Canadian Operations
Coeur tightened its partial-year 2026 guidance for Rainy River and New Afton, the two mines acquired when it bought New Gold in late March. The new ranges reflect a more realistic ramp-up for underground mining at Rainy River and development of the C-Zone at New Afton. Full-year production and cost guidance for the five legacy operations stayed unchanged.
Krebs said the second half of the year should bring sharp production increases and free cash flow, with full-year adjusted EBITDA expected around $2.3 billion and free cash flow near $1.5 billion. That compares with $1.0 billion and $666 million, respectively, in 2025. The company expects year-end cash to approach $2.0 billion.
Coeur carries an Alpha Score of 56 out of 100 from AlphaScala, a moderate rating within the basic materials sector. The stock traded on the New York Stock Exchange and Toronto Stock Exchange under ticker CDE.
For more on Coeur Mining, see the full earnings release. The company's gold and silver production profile is detailed on the gold profile page.
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