The earnings call highlighted significant financial growth, increased production, and successful project developments, indicating a strong performance. However, safety incidents and operational challenges in Mali presented concerns. Despite these challenges, the company's financial and operational achievements suggest a largely positive outlook.

Company Guidance

During the fourth quarter of 2024, Barrick Gold Corporation reported a robust performance, achieving a 30% increase in EBITDA and a 50% year-on-year growth in adjusted net earnings per share, reaching $1.26. The company maintained its quarterly dividend at $0.10 per share and executed $354 million in share buybacks, culminating in nearly $500 million for the year. The company's gold production rose by 15% quarter-on-quarter, coupled with a 3% reduction in cost of sales and a 5% decrease in total cash costs. Operating cash flow for the quarter increased by 18% to $1.4 billion, contributing to a total of $4.5 billion for the year, the highest since 2020. These results facilitated a 104% surge in full-year free cash flow to $1.3 billion. In addition to continued success in reserve replacement, Barrick achieved a 73 million gold equivalent ounces increase, primarily from the La Moana and Riccardeck projects. The company also met its production guidance for both gold and copper, with notable performance in Nevada and the Lemona project. Despite facing challenges, including three fatalities and operational disruptions in Mali, Barrick highlighted its commitment to sustainability, with significant improvements in safety metrics and an industry-leading water use efficiency rate of 85%.

Strong Financial Performance

EBITDA increased by 30%, with margins growing both quarterly and annually. Adjusted net earnings per share grew 50% year-over-year to $1.26. Barrick achieved the highest net earnings in a decade, with operating cash flow for the quarter up 18% to $1.4 billion.

Gold and Copper Production and Reserves

Gold production increased by 15% quarter-on-quarter, with a 3% reduction in cost of sales and a 5% decrease in total cash costs. The company added significant new reserves from La Moana and Riccardeck, replacing 12.7 million ounces of gold and 13 million tons of copper.

Positive Developments in Key Projects

Pueblo Viejo expansion is progressing well, with gold production improving and recovery rates reaching 80% by year-end. The Riccardec project feasibility study is complete, with board approval to proceed.

Shareholder Returns

Barrick maintained its quarterly dividend at $0.10 per share and repurchased $354 million of its own shares in Q4, totaling almost $500 million for the year.

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Barrick Gold (GOLD) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GOLD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 30, 2025	2025 (Q1)	0.27 / -	0.185	―	―	―
Feb 12, 2025	2024 (Q4)	0.42 / 0.46	0.258	79.78% (+0.21)
Nov 07, 2024	2024 (Q3)	0.30 / 0.29	0.233	25.68% (+0.06)
Aug 12, 2024	2024 (Q2)	0.26 / 0.31	0.18	71.88% (+0.13)
May 01, 2024	2024 (Q1)	0.15 / 0.18	0.135	37.17% (+0.05)
Feb 14, 2024	2023 (Q4)	0.19 / 0.26	0.123	110.34% (+0.14)
Nov 02, 2023	2023 (Q3)	0.19 / 0.23	0.125	85.96% (+0.11)
Aug 08, 2023	2023 (Q2)	0.16 / 0.18	0.217	-16.88% (-0.04)
May 03, 2023	2023 (Q1)	0.11 / 0.13	0.235	-42.81% (-0.10)
Feb 15, 2023	2022 (Q4)	0.11 / 0.12	0.313	-60.81% (-0.19)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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GOLD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 12, 2025	$17.07	$18.17	+6.44%
Nov 07, 2024	$18.32	$18.37	+0.27%
Aug 12, 2024	$17.22	$18.79	+9.12%
May 01, 2024	$16.37	$16.09	-1.71%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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