Agnico Eagle Surpasses Q2 Revenue Expectations with Record Free Cash Flow

Agnico Eagle reported Q2 revenue of $2.81 bln, beating expectations, with record free cash flow due to favorable gold prices and effective cost management. The company returned $300 mln to shareholders through dividends and share buybacks, concluding the period with a robust net cash position. Agnico Eagle remains committed to meeting its 2025 targets and advancing key growth initiatives to enhance long-term shareholder value.

Agnico Eagle Mines Limited (AEM) has reported its financial and operational results for the second quarter of 2025, showcasing strong performance across key metrics. The company's Q2 revenue reached $2.81 billion, exceeding market expectations, driven by favorable gold prices and effective cost management strategies. The quarter also saw Agnico Eagle generate record free cash flow, with the company returning approximately $300 million to shareholders through dividends and share repurchases.

The company's President and Chief Executive Officer, Ammar Al-Joundi, highlighted the company's exceptional results, stating, "Our portfolio of high-quality assets continued to deliver exceptional results this quarter, generating record free cash flow, more than doubling the prior quarter. This performance reflects the strength of the gold price environment, our disciplined cost management, and the consistency of our operational execution."

Key financial highlights include:
- Payable gold production: 866,029 ounces at a production cost of $911 per ounce, with total cash costs per ounce at $933 and all-in sustaining costs (AISC) per ounce at $1,289.
- Net income: $1,069 million or $2.13 per share.
- Free cash flow: Record $1,305 million or $2.60 per share.

Agnico Eagle's balance sheet has further strengthened, transitioning to a net cash position of $963 million as of June 30, 2025. This was achieved through an increase in the cash position by $419 million to $1,558 million and a reduction in long-term debt by $550 million to $595 million. The company also repaid $40 million of the 2017 Series A 4.42% senior notes at maturity and redeemed the remaining outstanding principal of $260 million of the 2017 senior notes and $250 million of the 2016 senior notes.

The company's commitment to shareholder returns was evident with a quarterly dividend of $0.40 per share and the repurchase of 836,488 common shares during the quarter at an average share price of $119.47 for aggregate consideration of $100 million.

Agnico Eagle's focus on growth initiatives and long-term value creation was evident in the progress made on key projects such as Canadian Malartic, Detour Lake, Upper Beaver, Hope Bay, and San Nicolas. The company remains on track to meet its 2025 targets and continues to execute on its strategic plans to drive long-term shareholder value.

References:
[1] https://www.agnicoeagle.com/English/news-and-media/news-releases/news-details/2025/AGNICO-EAGLE-REPORTS-SECOND-QUARTER-2025-RESULTS---RECORD-FREE-CASH-FLOW-WITH-ANOTHER-QUARTER-OF-STRONG-PRODUCTION-AND-COST-PERFORMANCE-BALANCE-SHEET-FURTHER-STRENGTHENED-BY-TRANSITION-TO-NET-CASH-POSITION-AND-LONG-TERM-DEBT-REPAYMENT/default.aspx