Eldorado Gold Q2: $487M Revenue, $0.69 EPS; CEO Burns to Retire, Skouries on Track
EGO sits 56% above its 52-week low of $20.39.
Summary
Eldorado Gold delivered solid Q2 results with revenue of $487.5 million and net earnings of $172.8 million ($0.69 per share), driven by strong gold prices and consistent operations. Adjusted EBITDA reached $281.1 million, though free cash flow was deeply negative at -$334.1 million due to heavy investment in the Skouries and McIlvenna Bay growth projects. The company raised its full-year gold production guidance to 495,000–600,000 ounces, incorporating initial output from McIlvenna Bay, while maintaining cost guidance for existing operations. In a significant leadership transition, CEO George Burns will retire on September 30, 2026, with Christian Milau stepping in as President and CEO; the board also saw a new Chair and Lead Independent Director appointed. The Skouries project remains on track for Q3 2026, following first ore crushing in July. These results and the CEO change come amid a period of heavy capital spending and strategic expansion, with the market likely to focus on execution of the growth pipeline and the smoothness of the leadership handover.
At the time of this announcement, EGO was trading at $31.76 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $8.5B. The 52-week trading range was $20.39 to $51.16. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.