B2Gold reported Q2 adjusted EPS of 12c, beating the consensus estimate of 13c. The company also reported Q2 revenue of $692.2M, up from $492.6M last year, and consolidated gold production of 229,454 ounces, higher than expected.
B2Gold Corp (NYSE: BTG) reported its second-quarter (Q2) 2025 results on August 7, 2025, showing a robust performance across key financial metrics. The company reported an adjusted net income of USD 162.839 million, with a basic EPS of USD 0.12, both of which exceeded the consensus estimates of USD 0.13 and USD 0.12, respectively [1].
Revenue for the quarter was USD 692.206 million, up from USD 492.569 million in the same period last year, marking a significant year-over-year (YoY) increase of 42.6% [2]. Consolidated gold production for the quarter was 229,454 ounces, higher than the expected 204,241 ounces [3].
The company's operational performance was notable for its lower than expected cash operating costs of USD 745 per gold ounce produced, driven by lower fuel costs and higher gold production. The all-in sustaining costs were USD 1,519 per gold ounce sold, higher than expected due to higher gold royalties resulting from a higher than expected average realized gold price [3].
B2Gold's strong financial position is further underscored by its cash and cash equivalents of USD 308 million and a working capital deficit of USD 19 million as of June 30, 2025. The company also announced a positive feasibility study for its Gramalote project in Colombia, with an after-tax NPV of USD 941 million and an after-tax IRR of 22.4% at a USD 2,500 per ounce gold price [3].
The company's management remains optimistic about its future growth prospects, with estimates for gold production in 2025 ranging between 120,000 and 150,000 ounces. Additionally, the Fekola mine reached a production milestone of four million ounces of gold produced, seven years and ten months from construction completion [3].
References:
[1] Reuters. (2025, August 7). B2Gold Corp Q2 adjusted net income USD 162.839 million. Retrieved from https://www.tradingview.com/news/reuters.com,2025-08-07:newsml_PLX7FBBCA:0-brief-b2gold-corp-q2-eps-usd-0-1/
[2] Seeking Alpha. (2025, August 7). B2Gold Q2 2025 Earnings Preview. Retrieved from https://seekingalpha.com/news/4480201-b2gold-q2-2025-earnings-preview
[3] B2Gold. (2025, August 7). B2Gold Reports Q2 2025 Results. Retrieved from https://www.b2gold.com/news-media/news-releases/news-details/2025/B2Gold-Reports-Q2-2025-Results/default.aspx
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