Eldorado Gold (NYSE:EGO) delivered better-than-expected fourth-quarter results, surpassing analyst estimates for both earnings and revenue, supported by solid production levels and strong gold prices.
Despite the earnings beat, shares were down 4.89% in pre-market trading following the announcement.
The company reported earnings per share of $0.63 for the fourth quarter, exceeding the $0.52 consensus estimate. Revenue climbed to $577.2 million, comfortably ahead of the $498.46 million analysts had projected.
From an operational standpoint, Eldorado produced 123,416 ounces of gold during the quarter, lifting full-year 2025 output to 488,268 ounces — at the upper end of its previously issued guidance. Gold sales reached 126,923 ounces in Q4 at an average realized price of $4,251 per ounce. For the full year, total sales amounted to 491,204 ounces at an average realized price of $3,505 per ounce.
Cost metrics also came in strong. Total cash costs were $1,295 per ounce in the fourth quarter and $1,176 per ounce for the year, landing at the low end of the company’s tightened guidance range. All-in sustaining costs totaled $1,894 per ounce in Q4 and $1,664 per ounce for full-year 2025, both within guidance.
Cash generation remained robust, with net cash from operating activities reaching $283.7 million in the quarter and $742.5 million for the year. Eldorado finished 2025 with $869.4 million in cash and cash equivalents on its balance sheet.
“2025 was a year of strong execution and meaningful progress across our portfolio,” said CEO George Burns. “We delivered gold production at the higher end of our production guidance… Solid operating execution, supported by a favorable gold price environment, translated into strong financial results.”
Looking forward, Eldorado continues to advance its Skouries copper-gold project in Greece, with initial production targeted for early in the third quarter of 2026, marking the next stage of growth for the company.