Centerra Gold management attributes Q3 2026 net earnings decline to prior-year Goldfield impairment reversal
CGAU•Centerra Gold’s third-quarter 2026 net earnings fell 70% to $88.7 million, primarily because a Goldfield impairment reversal had boosted the year-earlier period by $193.5 million. Adjusted net earnings rose 8% to $71.8 million, while free cash flow fell 83% to $17.1 million.
1. Earnings and cash flow
Centerra Gold management attributed the 70% decline in third-quarter 2026 net earnings to $88.7 million primarily to a prior-year impairment reversal at Goldfield, which increased third-quarter 2025 earnings by $193.5 million. Adjusted net earnings rose 8% to $71.8 million, driven by stronger mine earnings and partly offset by higher share-based compensation.
2. Mine performance
Management attributed stronger mine earnings to higher realized metal prices and improved molybdenum margins, partly offset by lower gold sales at Öksüt. Free cash flow fell 83% to $17.1 million as higher tax payments reduced operating cash flow and capital spending increased.
