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Equinox Gold Misses Despite Record Output
Equinox Gold Misses Despite Record Output
Moz Farooque ACCA
Thu, February 19, 2026 at 9:07 PM GMT+9 1 min read
In this article:
EQX
+3.92%
This article first appeared on GuruFocus.
Equinox Gold (EQX) had a mixed fourth quarter. The company earned $0.21 per share on a non GAAP basis, missing estimates by $0.01. Revenue came in at $681.4 million, up a sharp 89.6% year over year, but still $267.6 million below what analysts were expecting.
Operationally, the company actually delivered a record quarter. Equinox produced 247,024 ounces of gold, including contributions from Valentine and Castle Mountain. It sold 242,392 ounces at an average realized price of $4,060 per ounce, generating $987.8 million in total revenue when including discontinued operations. Costs remain elevated, with total cash costs at $1,392 per ounce and AISC at $1,907 per ounce. Still, cash generation was solid, with $396 million in operating cash flow before working capital changes and $579 million in adjusted EBITDA.
Looking ahead, management reaffirmed 2026 guidance of 700,000 to 800,000 ounces of production, with AISC projected between $1,775 and $1,875 per ounce.
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