Filing Flows › Barrick Mining (B) › Q2 2023
Barrick Mining (B) Q2 2023 earnings results (second quarter 2023)
6-K filed Aug 8, 2023
Barrick Mining (B) reported revenue of $2.8B for the second quarter 2023 (Q2 2023), -0.9% from a year earlier. Operating margin was 28.6%, net earnings $305M (10.8% of revenue).
Barrick Mining, Q2 2023: revenue $2.8B (-0.9% year over year), operating margin 28.6%, net earnings $305M, operating cash flow $832M. The chart follows the revenue to costs, profit and cash.
| Q2 2023 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.8B | — | -0.9% |
| Operating profit | $810M | — | -25% |
| Net earnings | $305M | — | -38% |
| Operating cash flow | $832M | — | -10% |
| Free cash flow | $63.0M | — | -63% |
What changed
Revenue was $2.8B in Q2 2023, down 1% year over year. Carlin 2 was the largest line at 27% of revenue.
Operating profit was $0.81B, a 28.6% margin (down 9.4 points year over year). Total costs grew 14% against a revenue fall of 1%. Net earnings were $0.30B, down 38% year over year. The effective tax rate was 34.5%.
Operating cash flow was $0.83B (down 10% year over year), 166% of net income including minority interests. Non-cash charges added back $0.01B of share-based compensation. Working capital and other items added $0.32B. Capital expenditures of $0.77B left free cash flow of $0.06B.
Questions
What was Barrick Mining's revenue in the second quarter 2023?
Barrick Mining (B) reported revenue of $2.8B for the second quarter 2023 (Q2 2023), -0.9% from a year earlier.
Was Barrick Mining profitable in the second quarter 2023?
Operating profit was $810M (28.6% of revenue) and net earnings $305M.
Source: Barrick Mining 6-K on SEC EDGAR.