Newmont Corporation (NYSE:NEM) Q4 2024 Results Conference Call February 20, 2025 5:30 PM ET Company Participants Tom Palmer - President and Chief Executive Officer Karyn Ovelmen - Chief Financial Officer Natascha Viljoen - Chief Operating Officer Conference Call Participants Hugo Nicolaci - Goldman Sachs Daniel Morgan - Barrenjoey Lawson Winder - Bank of America Daniel Major - UBS Kate McCutcheon - Citi Josh Wolfson - RBC Capital Markets Al Harvey - JPMorgan Operator Hello, and welcome to Newmont's Fourth Q ...

Newmont Corporation (NEM) reported $5.65 billion in revenue for the quarter ended December 2024, representing a year-over-year increase of 42.8%. EPS of $1.40 for the same period compares to $0.50 a year ago.The reported revenue represents a surprise of +15.80% over the Zacks Consensus Estimate of $4.88 billion. With the consensus EPS estimate being $0.95, the EPS surprise was +47.37%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to ...

Financial Performance - Net income from continuing operations attributable to Newmont stockholders was $3,280 or $2.86 per diluted share, an increase of $5,801 from the prior year[22]. - Adjusted net income reported was $3,991 or $3.48 per diluted share, an increase of $1.91 per diluted share from the prior year[22]. - Adjusted EBITDA was $8,675, reflecting a 106% increase from the prior year[22]. - Net cash provided by operating activities of continuing operations was $6,318, a 129% increase from the prior year, with free cash flow of $2,916[22]. - The company reported a net income per share of $2.92 for 2024, compared to a net loss per share of $2.97 in 2023[724]. - The net income attributable to Newmont stockholders for 2024 was $3.348 billion, a recovery from a net loss of $2.494 billion in 2023[724]. - Net income for the year ended December 31, 2024, was $3,381 million, a significant increase from a net loss of $2,467 million in 2023[727]. - Comprehensive income attributable to Newmont stockholders was $3,239 million in 2024, compared to a loss of $2,509 million in 2023[727]. Production and Sales - Attributable gold production was approximately 7 million ounces, an increase of approximately 24% from the prior year[22]. - Sales for the year ended December 31, 2024, were $18,682 million, compared to $11,812 million in 2023[12]. - Consolidated gold ounces produced were 6,545 thousand, an increase from 5,401 thousand in 2023[16]. - Average realized price for gold was $2,408 per ounce, up from $1,954 per ounce in 2023[16]. - The company's sales for the year ended December 31, 2024, were $18.682 billion, a significant increase from $11.812 billion in 2023[724]. Costs and Expenses - Costs applicable to sales for 2024 were $8.963 billion, compared to $6.699 billion in 2023, reflecting a 33.8% increase[724]. - Exploration expenses for 2024 were $266 million, slightly up from $265 million in 2023[724]. - The company's reclamation and remediation costs for 2024 were $328 million, down from $1.533 billion in 2023[724]. Assets and Liabilities - The company ended the year with $3,619 million in consolidated cash and approximately $7,664 million of liquidity[22]. - Total assets rose to $56,349 million in 2024, compared to $55,506 million in 2023[730]. - Total liabilities decreased slightly to $26,240 million in 2024 from $26,301 million in 2023[730]. - The consolidated reclamation liabilities of the company totaled $8.5 billion as of December 31, 2024, including $1.5 billion in liabilities held for sale[705]. Impairment and Goodwill - The impairment charges for 2024 were $78 million, a significant decrease from $1.891 billion in 2023[724]. - Goodwill is tested for impairment annually and when circumstances indicate that the carrying value exceeds fair value[661]. - The qualitative goodwill impairment assessment indicated a goodwill balance of $668 million as of December 31, 2024[718]. - The ability to achieve estimated quantities of recoverable minerals from exploration stage mineral interests involves higher risks due to lower geological confidence[659]. Cash Flow and Financing - The company reported a net change in cash, cash equivalents, and restricted cash of $550 million for the year ended December 31, 2024[734]. - The company repaid $3,860 million in debt during 2024, while also issuing $3,476 million in new debt[732]. - Newmont's total equity increased to $30,109 million in 2024, up from $29,205 million in 2023[730]. - The company declared cash dividends of $1.00, $1.60, and $2.20 per common share for the years 2024, 2023, and 2022, respectively[738]. Risk Management - The company does not currently hold instruments to hedge against potential impacts due to market price changes in metals[680]. - The Cadia Power Purchase Agreement and foreign currency cash flow hedges are used for risk management, mitigating variability in future cash flows[689]. - A hypothetical 10% adverse movement in local currency exchange rates would increase costs applicable to sales by approximately $71 per gold ounce[685]. - The company has significant operations in multiple countries, with all production sold based on USD metal prices, exposing it to foreign currency exchange rate fluctuations[684]. Acquisitions and Divestitures - The company completed the acquisition of Newcrest Mining Limited for total non-cash consideration of $13,549 million on November 6, 2023[743]. - The company plans to divest six non-core assets and a development project, which are expected to be completed within 12 months[741]. Tax and Regulatory Matters - The Corporate AMT of 15% on adjusted financial statement income is effective for tax periods beginning in fiscal year 2023[841]. - The Pillar II agreement, signed by 138 countries, aims to implement a global minimum tax of 15%, with no material impact anticipated for Newmont[842]. - The Inflation Reduction Act introduced a 1% excise tax on stock repurchases effective on net stock repurchases made after December 31, 2022[840]. Accounting Policies - The Company’s Consolidated Financial Statements are prepared in accordance with GAAP, requiring estimates and assumptions that could differ from actual results[758]. - Significant estimates relate to mineral reserves, environmental obligations, and asset impairments, which could impact future cash flow estimates[759]. - The Company recognizes and measures assets and liabilities in business combinations based on estimated fair values, with independent appraisers engaged for material acquisitions[764].

Newmont Corporation (NEM) came out with quarterly earnings of $1.40 per share, beating the Zacks Consensus Estimate of $0.95 per share. This compares to earnings of $0.50 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 47.37%. A quarter ago, it was expected that this gold and copper miner would post earnings of $0.83 per share when it actually produced earnings of $0.81, delivering a surprise of -2.41%.Over the last four quart ...

NYSE: NEM, ASX: NEM, TSX: NGT, PNGX: NEM Exhibit 99.1 Newmont Reports Fourth Quarter and Full Year 2024 Results; Provides Full Year 2025 Guidance DENVER, February 20, 2025 – Newmont Corporation (NYSE: NEM, ASX: NEM, TSX: NGT, PNGX: NEM) (Newmont or the Company) today announced its fourth quarter and full year 2024 results, declared a fourth quarter dividend of $0.25 and provided guidance for the full year of 2025. 1 "2024 was a transformational year for Newmont, as we focused on the integration of the Newcr ...

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Newmont To Contact Him Directly To Discuss Their OptionsIf you suffered losses exceeding $50,000 in Newmont between February 22, 2024 and October 23, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).[You may also click here for additional information]NEW YORK, Feb. 20, 2025 /PRNewswi ...

PHILADELPHIA, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Berger Montague PC, with offices throughout the U.S. and in Canada, advises investors that a securities class action lawsuit has been filed against Newmont Corporation (“Newmont” or the “Company”) (NYSE: NEM) on behalf of purchasers of Newmont securities between February 22, 2024 through October 23, 2024, inclusive (the “Class Period”). Investor Deadline: Investors who purchased or acquired NEWMONT securities during the Class Period may, no later than APRIL 1, ...

NEW YORK, Feb. 20, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Newmont Corporation (NYSE: NEM).Shareholders who purchased shares of NEM during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/newmont-corporation-loss-submission-form/?id=130537&from=4CLASS PERIOD: February 22, 2024 ...

NEW YORK, Feb. 18, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Newmont Corporation ("Newmont" or the "Company") (NYSE: NEM) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Newmont investors who were adversely affected by alleged securities fraud between February 22, 2024 and October 23, 2024. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/newmont-corporation-lawsuit-su ...

Newmont Corporation (NEM) is slated to come up with fourth-quarter 2024 results after the closing bell on Feb. 20. See the Zacks Earnings Calendar to stay ahead of market-making news.NEM beat the Zacks Consensus Estimate for earnings in two of the trailing four quarters while missed twice. In this timeframe, it delivered an earnings surprise of 22.2%, on average. It posted a negative earnings surprise of 2.4% in the last reported quarter. Newmont is expected to have benefited from higher gold prices and str ...