OceanaGold Philippines, Inc. announced a 4.8% increase in net income for the third quarter of 2026, totaling $28.3 million, compared to $27 million during the same period last year.
Strong Revenue Growth and Cost Management
The company reported gross revenues of $149.1 million, up by 5.2% from $141.7 million in the previous year. This revenue growth was complemented by a decrease in gross expenses, which fell to $97.8 million from $99 million.
With today’s gold prices and another solid quarter of operating performance, we generated strong Free Cash Flow of $51M and announced another healthy quarterly dividend for our shareholders.
Joan Adaci-Cattiling, President, OceanaGold Philippines
- Net income for the first nine months rose to $95.6 million from $49 million year-on-year.
- Revenues for the same period increased by 37% to $434.4 million.
Despite an increase in income tax expenses to $23.1 million from $15.4 million, the company’s income before tax showed substantial growth, rising to $51.4 million from $42.4 million.
OceanaGold produced 22,700 ounces of gold and 3,400 tonnes of copper during Q3, surpassing last year’s figures of 21,900 ounces of gold and 3,100 tonnes of copper.
The company’s all-in sustaining cost (AISC) significantly decreased to $687 per ounce from $1,213 a year prior, attributed to higher by-product credits and lower sustaining capital expenditures.
OceanaGold declared a cash dividend of $26 million for the quarter, equivalent to $0.0114 per common share. Shareholders on record as of November 19 will receive this dividend on December 17.
Looking ahead, OceanaGold expects production to rise in the fourth quarter as underground mining operations improve. The company is also actively pursuing its underground mining expansion and exploration programs.
Shares of OceanaGold rose by 2.27% to close at P33.75 on Thursday, reflecting strong investor confidence following the earnings report.