Newmont Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags
Newmont (NYSE:NEM) Full Year 2023 Results
Key Financial Results
Revenue: US$11.8b (flat on FY 2022).
Net loss: US$2.50b (loss widened by 445% from FY 2022).
US$2.97 loss per share (further deteriorated from US$0.58 loss in FY 2022).
NEM Production and Reserves
Gold
Production: 5,545 troy koz (5,956 troy koz in FY 2022)
Number of mines: 18 (14 in FY 2022)
All figures shown in the chart above are for the trailing 12 month (TTM) period
Newmont Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) missed analyst estimates.
Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Metals and Mining industry in the US.
Performance of the American Metals and Mining industry.
The company's shares are down 6.4% from a week ago.
Risk Analysis
Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Newmont (1 shouldn't be ignored) you should be aware of.
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