Eldorado Gold reported a year-over-year revenue increase in the third quarter of 2026, though both top and bottom-line results missed analyst expectations. Growth was primarily driven by the Canadian segment, which now represents nearly half of total revenue following the acquisition of Foran Mining. The company reached a critical milestone in Greece by completing its equity commitment for the Skouries Project, shifting further funding requirements to its established credit facilities.
Key Highlights
- Revenue rose 18% year-over-year to $511.9 million, significantly trailing the $667.0 million analyst consensus.
- Net earnings attributable to shareholders were $118.0 million, or $0.45 per share, compared to the expected adjusted EPS of $0.61.
- Revenue from Canadian operations surged to $249.3 million from $160.0 million in the prior year, bolstered by the integration of the McIlvenna Bay Project.
- Total debt increased to $1.99 billion as of September 30, 2026, as the company utilized its Contingent Overrun Facility and Senior Secured Credit Facility to fund development ramp-ups.