Endeavour Mining (TSX: EDV) reported Q4 2025 revenue of $1.28 billion from $941.0 million in Q4 2024. Full-year figure climbed to $4.23 billion from $2.68 billion in 2024.
The jump was mainly driven by the price environment. Realised gold price was at $3,873 per ounce in Q4 vs $2,590 per ounce last year, and $3,244 per ounce for full-year 2025 vs $2,349 per ounce in 2024.
The upswing led to a net earnings of $68.0 million in Q4 2025 versus a loss of $119.0 million last year while 2025 bottomline swung to $679.0 million from a loss of $294.0 million.
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On an adjusted basis, net earnings increased to $225.0 million for the quarter from $110.0 million last year, translating to $0.93 earnings per diluted share.
Adjusted EBITDA also rose to $681.0 million in Q4 2025 from $546.0 million last year.
Operating cash flow before working capital increased to $625.0 million from $356.0 million in Q4 2024. This led to free cash flow rising to $476.0 million from $268.0 million.
Cash and cash equivalents ended Q4 2025 at $453.0 million versus $397.0 million at the end of Q4 2024.
On production, the firm yielded 298.0 koz this quarter, down from last year’s 363.0 koz, putting 2025 production at 1.21 Moz versus 1.10 Moz in 2024.
As with the rise in prices, costs inflated as well. Total cash cost was $1,448 per ounce in Q4 2025 versus $979 per ounce last year, while 2025 total cash cost was $1,216 per ounce versus $1,058 per ounce. AISC was $1,648 per ounce in Q4 2025 versus $1,141 per ounce last year, while 2025 AISC was $1,433 per ounce versus $1,218 per ounce.
For 2026, guidance was reiterated at 1.09 Moz to 1.27 Moz at AISC of $1,600 per ounce to $1,800 per ounce.
Endeavour Mining last traded at $87.40 on the TSX.
Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
