The earnings call presented a mix of positive financial performance, including increased earnings and cash flow, alongside operational challenges such as safety incidents and production guidance adjustments. The company's strategic investments and debt reduction were highlighted, but operational difficulties persisted.

Company Guidance

In the third quarter of 2024 earnings call, Barrick's executives provided detailed guidance and highlighted several key metrics. The company reported a 33% increase in adjusted net earnings per share and maintained its quarterly dividend at $0.10, alongside repurchasing $95 million in shares through buybacks. Gold production remained steady compared to the previous quarter, while copper production increased by 12%, contributing to a 24% year-on-year rise in free cash flow, reaching $444 million. The company also achieved a 27% reduction in net debt quarter-on-quarter, bringing it down to $500 million. Despite challenges, Barrick's operations generated robust cash flows, amounting to $1.18 billion for the quarter. The executives reaffirmed their commitment to ending the year within the group's gold and copper production guidance range, albeit at the lower end. Furthermore, the company highlighted ongoing investments in infrastructure, notably in Nevada Gold Mines and Pueblo Viejo, as well as progress on new projects such as Lumwana and Reko Diq, which are anticipated to drive future growth.

Increase in Adjusted Net Earnings

Adjusted net earnings per share rose by 33%.

Record Free Cash Flow

Free cash flow was up 24% year-on-year to $444 million, the highest since Q1 2021.

Robust Cash Flow Generation

Operations generated $1.18 billion in cash for the quarter.

Copper Production Growth

Copper production was up 12% quarter-on-quarter and costs were reduced.

Debt Reduction

Debt, net of cash, was reduced by 27% quarter-on-quarter to $500 million.

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Barrick Gold (TSE:ABX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:ABX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 12, 2025	2024 (Q4)	0.64 / -	0.366	―	―	―
Nov 07, 2024	2024 (Q3)	0.43 / 0.42	0.331	25.68% (+0.08)
Aug 12, 2024	2024 (Q2)	0.37 / 0.44	0.256	71.88% (+0.18)
May 01, 2024	2024 (Q1)	0.21 / 0.26	0.191	37.17% (+0.07)
Feb 14, 2024	2023 (Q4)	0.27 / 0.37	0.174	110.34% (+0.19)
Nov 02, 2023	2023 (Q3)	0.26 / 0.33	0.178	85.96% (+0.15)
Aug 08, 2023	2023 (Q2)	0.23 / 0.26	0.308	-16.88% (-0.05)
May 03, 2023	2023 (Q1)	0.16 / 0.19	0.334	-42.81% (-0.14)
Feb 15, 2023	2022 (Q4)	0.15 / 0.17	0.444	-60.81% (-0.27)
Nov 03, 2022	2022 (Q3)	0.15 / 0.18	0.299	-40.47% (-0.12)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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TSE:ABX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	C$25.57	C$25.48	-0.35%
Aug 12, 2024	C$23.66	C$25.87	+9.37%
May 01, 2024	C$22.51	C$22.15	-1.57%
Feb 14, 2024	C$18.74	C$18.60	-0.73%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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