Canada's Centerra Gold Q3 net earnings fell on impairment absence
CGAU•Centerra Gold reported Q3 net earnings of $88.7 million and revenue of $500.3 million, which topped the $453.25 million analyst estimate. Earnings fell sharply because a $193.5 million Goldfield impairment reversal in 2025 did not recur.
1. Quarterly results
Centerra Gold's Q3 revenue rose year over year to $500.3 million, above the $453.25 million consensus estimate. Net earnings were $88.7 million; the company said earnings fell sharply because the prior-year period included a $193.5 million Goldfield impairment reversal that did not recur.
2. Guidance and projects
Mount Milligan lowered its FY26 all-in sustaining cost guidance to $1,100-$1,200 per ounce from $1,200-$1,300, citing stronger copper by-product credits. Langeloth raised FY26 adjusted EBITDA guidance to $17-$22 million from $7-$12 million as molybdenum prices increased. Thompson Creek is targeting first production in mid-2027 and remains within its $425-$450 million capital estimate.
3. Operations and dividend
Mount Milligan's Q3 AISC fell 22% quarter over quarter to $985 per ounce on higher gold production and sales and copper by-product credits. Öksüt production benefited from higher grades, operating practices and solution management. The company declared a quarterly dividend of C$0.07 per share.
