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Sibanye Stillwater (SBSW)
NYSE:SBSW
Earnings Data
Report Date
Sep 01, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.83Last Year’s EPS
0.43Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a largely positive operational and financial turnaround: strong commodity price tailwinds, record/near‑record EBITDA, a substantial reduction in leverage, restored dividend, and clear progress on sustainability and mechanization programs. These positives are tempered by significant one-off cash impacts (Appian settlement, hedge losses), material impairments (ZAR 15.8bn) and safety‑driven production cuts (notably at Kloof) including six fatalities. Viewed holistically the improvements in core cash generation, balance sheet strength and a disciplined capital allocation framework suggest the company has strengthened its position while addressing legacy and project risks.Company Guidance
Record EBITDA and Strong Earnings Recovery
Adjusted EBITDA rose to just under ZAR 38 billion (up ~189% from ZAR 13 billion), the highest in three years; headline earnings per share increased 281% to ZAR 244 cents, driven by stronger commodity prices and operational performance.
Material Net Debt Reduction and Improved Leverage
Net debt to adjusted EBITDA decreased from 1.77x at end-2024 to 0.59x at end-2025, reflecting a much stronger balance sheet and comfortable covenant headroom.
Dividend Restored at Top End of Policy
Board declared a dividend of ZAR 131 cents per share (approximately a 2% yield), positioned at the top end of the stated dividend policy following the earnings recovery.
PGM Production Stability and Price Upside
South African 4E PGM production was ~1.8 million ounces (in line with guidance); average 4E basket price rose ~28% to >ZAR 31,000/oz, driving SA PGM adjusted EBITDA up 125% to ZAR 16.7 billion; spot early-2026 basket prices rose further (~43% year-to-date in presentation).
US PGM Operations Returned to Profitability and Cost-Reduction Program
US PGM production of 284,000 3E ounces with all-in sustaining cost of $1,203/oz (better than guidance); company is implementing mechanization and productivity initiatives targeting a $1,000/oz cost profile over the medium term.
Gold Business Cash Generation Despite Lower Volumes
Total gold production (including DRDGOLD) fell ~10% to 19.7 tonnes but received gold price rose ~39%, helping gold adjusted EBITDA increase 115% to ZAR 12.5 billion and representing 33% of group EBITDA.
Renewable Energy and Sustainability Progress
Renewable pipeline expanded to 765 MW (largest private contracted renewables offtake in South African mining); early projects delivered ~ZAR 100 million savings and ~300,000 tCO2 avoided year-to-date, with ~ZAR 1 billion annual savings and ~2.6 million tCO2 avoidance targeted by 2028 (41% reduction vs 2024).
Resource Base and Life-of-Mine Visibility
Group resource inventory of ~356 million ounces with ~58.2 million ounces (16%) in reserves; notable long-life projects include Marikana K4 (45-year LOM) and multiple Rustenburg operations with multi-decade lives, providing organic growth optionality.
SBSW Earnings History
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
SBSW Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 20, 2026 | $15.27 | $15.94 | +4.39% |
Aug 28, 2025 | $7.86 | $7.27 | -7.51% |
Feb 21, 2025 | $3.73 | $3.51 | -5.90% |
Sep 12, 2024 | $3.39 | $3.73 | +10.03% |
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.
FAQ
When does Sibanye Stillwater (SBSW) report earnings?
Sibanye Stillwater (SBSW) is schdueled to report earning on Sep 01, 2026, Before Open (Confirmed).
What is Sibanye Stillwater (SBSW) earnings time?
Sibanye Stillwater (SBSW) earnings time is at Sep 01, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SBSW EPS forecast?
SBSW EPS forecast for the fiscal quarter 2026 (Q2) is 0.83.