Published on 9 Aug 2022 on Zacks via Yahoo Finance
Barrick's (GOLD) Earnings Beat Estimates in Q2, Revenues Lag
Barrick Gold Corporation GOLD recorded net earnings (on a reported basis) of $488 million or 27 cents per share in second-quarter 2022, up from $411 million or 23 cents per share in the year-ago quarter.Barring one-time items, adjusted earnings per share were 24 cents. The figure beat the Zacks Consensus Estimate of 23 cents. Our estimate for the quarter was 28 cents.Barrick recorded total sales of $2,859 million, down 1% year over year. The figure missed the Zacks Consensus Estimate by 6.81%. Our estimate for the quarter was $3,159 million.The company witnessed strong performance across the portfolio during the quarter. It, however, faced challenges from higher costs and lower copper prices in the quarter, offset by higher gold realized prices. Barrick saw higher gold cost of sales in the quarter, hurt by increased input prices due to supply chain issues and the Russian-Ukraine conflict.
Barrick Gold Corporation Price, Consensus and EPS Surprise