Filing Flows › Newmont (NEM) › Q1 2025
Newmont (NEM) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 24, 2025
Newmont (NEM) reported revenue of $5.0B for the first quarter 2025 (Q1 2025), +25% from a year earlier and -11% from the quarter before. Operating margin was 44.9%, net earnings $1.9B (37.7% of revenue).
Newmont, Q1 2025: revenue $5.0B (+24% year over year), operating margin 44.9%, net earnings $1.9B, operating cash flow $2.0B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.0B | -11% | +25% |
| Operating profit | $2.2B | +15% | +462% |
| Net earnings | $1.9B | +35% | 11× |
| Operating cash flow | $2.0B | -19% | +162% |
| Free cash flow | $1.2B | — | — |
What changed
Revenue was $5.0B in Q1 2025, up 25% year over year and down 11% from the previous quarter. Gold Sales from Doré Production was the largest line at 62% of revenue. Sales from Concentrate and Other Production added $0.54B year over year (up 40%), 55% of the total change.
Operating profit was $2.2B, a 44.9% margin (up 34.9 points year over year). Of the extra revenue versus a year earlier, 187% reached operating profit, above the 10% margin then. Total costs fell 24% while revenue rose 25%. Net earnings were $1.9B, up 1012% year over year. The effective tax rate was 25.4%.
Operating cash flow was $2.0B (up 162% year over year), 107% of net earnings. Non-cash charges added back $0.59B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.48B. After additions to property, plant and mine development ($0.83B), free cash flow as the company reports it was $1.2B.
Questions
What was Newmont's revenue in the first quarter 2025?
Newmont (NEM) reported revenue of $5.0B for the first quarter 2025 (Q1 2025), +25% from a year earlier and -11% from the quarter before.
Was Newmont profitable in the first quarter 2025?
Operating profit was $2.2B (44.9% of revenue) and net earnings $1.9B.
Source: Newmont 10-Q on SEC EDGAR.