Filing Flows › Barrick Mining (B) › Q2 2024
Barrick Mining (B) Q2 2024 earnings results (second quarter 2024)
6-K filed Aug 12, 2024
Barrick Mining (B) reported revenue of $3.2B for the second quarter 2024 (Q2 2024), +12% from a year earlier. Operating margin was 34.5%, net earnings $370M (11.7% of revenue).
Barrick Mining, Q2 2024: revenue $3.2B (+12% year over year), operating margin 34.5%, net earnings $370M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q2 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.2B | — | +12% |
| Operating profit | $1.1B | — | +35% |
| Net earnings | $370M | — | +21% |
| Operating cash flow | $1.2B | — | +39% |
| Free cash flow | $340M | — | +440% |
What changed
Revenue was $3.2B in Q2 2024, up 12% year over year. Carlin 2 was the largest line at 24% of revenue.
Operating profit was $1.1B, a 34.5% margin (up 5.9 points year over year). Of the extra revenue versus Q2 2023, 86% reached operating profit, above the 29% margin then. Total costs grew 2% against revenue growth of 12%. The fastest-growing cost line was General & admin (+14%). Net earnings were $0.37B, up 21% year over year. The effective tax rate was 39.1%.
Operating cash flow was $1.2B (up 39% year over year), 183% of net income including minority interests. Non-cash charges added back $0.01B of share-based compensation. Working capital and other items added $0.52B. Capital expenditures of $0.82B left free cash flow of $0.34B.
Questions
What was Barrick Mining's revenue in the second quarter 2024?
Barrick Mining (B) reported revenue of $3.2B for the second quarter 2024 (Q2 2024), +12% from a year earlier.
Was Barrick Mining profitable in the second quarter 2024?
Operating profit was $1.1B (34.5% of revenue) and net earnings $370M.
Source: Barrick Mining 6-K on SEC EDGAR.