That came in above the 79-cent average projection from FactSet’s survey of analysts, according to The Wall Street Journal. It also came in above the 74 cents that, on average, five analysts polled by Zacks Investment Research had predicted, according to The Associated Press.
Revenue rose 22% from a year earlier to $5.07 billion. That fell short of analyst expectations near $5.16 billion, according to The Wall Street Journal.
Net earnings were $1.32 billion, or 80 cents a share, compared with $1.30 billion, or 76 cents a share, a year earlier. Attributable adjusted EBITDA rose 22% to $2.47 billion. The company’s realized gold price was $4,243 an ounce, up 23% from a year earlier. The market gold price fell from $4,506 an ounce in the second quarter to $4,262.
Gold production totaled 816,000 ounces, up 3% from the second quarter and down 2% from a year earlier on an attributable basis. The company blamed harsh weather at its Veladero mine and a holdup in getting to richer ore at its North Mara mine, where it anticipates reaching that ore in the fourth quarter. Copper production was 50,000 tonnes, compared with 56,000 tonnes in the second quarter. Copper guidance of 190,000 to 220,000 tonnes for 2026 is unchanged.
Gold cost of sales was $1,950 an ounce, compared with $1,562 a year earlier. All-in sustaining costs were $1,911 an ounce, compared with $1,538. The company pointed to lower grades, higher royalties tied to higher realized gold prices and elevated diesel prices. Its 2026 gold cost guidance is unchanged, including all-in sustaining costs of $1,760 to $1,950 an ounce.
“We remain on track to achieve our full-year production guidance,” Mark Hill, Barrick’s president and CEO, said in a statement.
Barrick sent $1.04 billion back to its shareholders over the three months, a payout that included $761 million of share repurchases and a quarterly dividend of 17.5 cents a share. The dividend will be paid on Dec. 15 to shareholders of record on Nov. 30. The company closed the period holding $0.9 billion in net cash, up from $0.3 billion a year earlier.
Management will host a webcast and analyst question-and-answer session at 11 a.m. ET on Monday.