Filing Flows › Kinross Gold (KGC) › FY2024
Kinross Gold (KGC) FY2024 earnings results (fiscal 2024)
40-F filed Mar 27, 2025
Kinross Gold (KGC) reported revenue of $5.1B for the fiscal 2024 (FY2024), +21% from a year earlier. Operating margin was 29.9%, net earnings $949M (18.4% of revenue).
Kinross Gold, FY2024: revenue $5.1B (+21% year over year), operating margin 29.9%, net earnings $949M, operating cash flow $2.4B. The chart follows the revenue to costs, profit and cash.
| FY2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.1B | — | +21% |
| Gross profit | $1.9B | — | +62% |
| Operating profit | $1.5B | — | +92% |
| Net earnings | $949M | — | +128% |
| Operating cash flow | $2.4B | — | +52% |
| Free cash flow | $1.4B | — | +170% |
What changed
Revenue was $5.1B in FY2024, up 21% year over year.
Gross margin was 36.5%, up 9.1 points from FY2023. Operating profit was $1.5B, a 29.9% margin (up 11.0 points year over year). Of the extra revenue versus FY2023, 81% reached operating profit, above the 19% margin then. Operating expenses fell 6% while revenue rose 21%. The fastest-growing cost line was SG&A (+16%). Net earnings were $0.95B, up 128% year over year. The effective tax rate was 32.9%.
Operating cash flow was $2.4B (up 52% year over year), 246% of net income including minority interests. Non-cash charges added back $1.1B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.27B. Capital expenditures of $1.1B left free cash flow of $1.4B.
Questions
What was Kinross Gold's revenue in the fiscal 2024?
Kinross Gold (KGC) reported revenue of $5.1B for the fiscal 2024 (FY2024), +21% from a year earlier.
Was Kinross Gold profitable in the fiscal 2024?
Operating profit was $1.5B (29.9% of revenue) and net earnings $949M.
Source: Kinross Gold 40-F on SEC EDGAR.