IAG · IAMGOLD Corporation

IAMGOLD's first quarter 2026 results reflect a transformative period driven by a significantly higher gold price environment and operational improvements across its mines. Revenue more than doubled to $1,030.1 million, primarily due to a 78% increase in the average realized gold price to $4,859 per ounce, while gold sales rose 17% to 211,500 ounces. Gross profit surged to $570.7 million, yielding a gross margin of 55.4%, up from 29.6% in the prior year. Net earnings attributable to equity holders reached $379.7 million ($0.65 per share), compared to $39.7 million ($0.07 per share) in Q1 2025, with adjusted net earnings of $391.1 million ($0.67 per share). The company generated robust operating cash flow of $569.9 million and mine-site free cash flow of $524.6 million, enabling significant capital allocation: $260 million in share repurchases (12.9 million shares), $100 million credit facility repayment, and a $128.3 million increase in cash. Production of 183,600 attributable ounces positions IAMGOLD well to meet its 2026 guidance of 720,000-820,000 ounces, with costs expected to improve as Côté Gold debottlenecks. The company also highlighted positive credit rating actions from Fitch and Moody's, and the appointment of a new Chief Strategy Officer. Overall, the quarter demonstrates IAMGOLD's ability to generate substantial free cash flow and return capital to shareholders while maintaining a strong balance sheet.