Evolution Mining's Fiscal 2027 Production Guidance Meets Estimate at Midpoint

MT Newswires Live10:50

Evolution Mining (ASX:EVN) fiscal 2027 gold production guidance met estimates at the midpoint, while the gold producer increased its dividend, helped by its cash flows.

The company expects fiscal 2027 gold production of 660,000 to 730,000 ounces compared with 715,000 ounces in fiscal 2026 and Jefferies' estimate of 700,000 ounces.

It also expects to produce 63,000 to 70,000 tonnes of copper in fiscal 2027 compared to 66,000 tonnes in fiscal 2026 and Jefferies' estimate of 67,000 tonnes.

Evolution Mining reported fiscal 2026 earnings per share of AU$0.7277 compared with AU$0.4641 last year. Analysts surveyed by FactSet expected AU$0.79 earnings per share.

It posted revenue of AU$5.56 billion, up from AU$4.35 billion last year and higher than the AU$5.52 billion analysts' consensus as polled by FactSet.

Chief Executive Officer Lawrie Conway attributed the results to the company's "consistent and reliable" operational delivery, and its cost and capital management.

The gold producer also bumped up its final dividend to AU$0.21 per share from AU$0.13 per share last year.

Jefferies said that the company continues to generate strong cash flows, which supported increased dividends to shareholders while undertaking material major capital expenditure to maintain its current production rates.

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