Eldorado Gold Reports Q2 Results with Strong Production but Negative Free Cash Flow
Eldorado Gold Corporation (NYSE: EGO) reported second-quarter gold production of 105,000 ounces and revenue of $487 million for the quarter ended June 30, 2026. Adjusted earnings rose to $137 million or $0.54 per share compared with $90 million a year ago. The company's realized gold price was $4,379 per ounce but lower sales volumes impacted results. The firm is advancing its Skouries project in Greece toward first concentrate production and ramping up the McIlvenna Bay operation in Saskatchewan. However, heavy capital investment led to negative free cash flow of $334 million due to $214 million spent on Skouries and $78 million at McIlvenna. CEO George Burns is expected to step down after this quarter's earnings call with President Christian Milau set to succeed him. The leadership change coincides as the company moves toward production ramp-ups.
Tickers: $EGO
Topics: executive changes financial results gold mining project updates