Coeur Mining reported record fourth‑quarter and full‑year 2025 financial results, with revenue topping $675 million for the quarter and $2.1 billion for the year. GAAP net income reached $215 million, or $0.29 per share, while adjusted EBITDA climbed to $425 million in the quarter and $1.0 billion for the year. The company beat revenue expectations by roughly $6 million, but its GAAP EPS fell short of the consensus estimate of $0.43, with an adjusted EPS of $0.35.
The results marked the third straight quarter of record‑setting performance, a milestone highlighted by CEO Mitchell J. Krebs: “Coeur finished 2025 on a high note, achieving a third consecutive quarter of record‑setting financial results, driven by higher realized prices, strong production and disciplined cost management.” The company’s five operations all delivered solid results and record free cash flow.
Strong commodity prices and production gains underpinned the revenue beat. Gold and silver production rose 23 % and 57 % year‑over‑year, respectively, while higher realized prices lifted revenue. Operational efficiency was further supported by a near‑doubling of the mine life at Wharf to twelve years and significant reserve increases at Kensington and Palmarejo, reinforcing long‑term growth prospects.
Management guided for 2026 record results and reiterated its commitment to expanding the business through the pending acquisition of New Gold Inc., a transaction expected to close in the first half of 2026. The deal will create a sector‑leading, all‑North American senior precious metals mining company and is projected to add substantial EBITDA and free cash flow.
The EPS miss reflects the gap between analyst expectations and the company’s actual earnings per share, a shortfall that management attributes to the higher cost base associated with the accelerated production and reserve expansion. Despite this, the company’s revenue and cash‑generating performance remain robust, supporting its outlook for continued growth.
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