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Endeavour posts record Q1 EBITDA, free cash flow amid surging gold price
By Michele Maatouk
Date: Thursday 30 Apr 2026
(Sharecast News) - Endeavour Mining reported record first-quarter adjusted EBITDA and free cash flow on Thursday amid a surge in the price of gold, and said it was on track to potentially more than double its commitment to minimum shareholder returns.
In the three months to the end of March, adjusted earnings before interest, tax, depreciation and amortisation rose 29% to $880m. Free cash flow was $613m, also up 29% on the previous quarter, and equivalent to $2,176 per ounce.
Endeavour went from a net debt position of $157.5m at the end of Q4 2025 to a net cash position of $405.4 in the first quarter of 2026.
Meanwhile, gold production for the quarter was 282,000 ounces, down from 298,000 in the previous quarter, but Endeavour said it was on track to meet full-year guidance.
The company also said it expects total returns to exceed $2bn at prevailing gold prices.
Chief executive Ian Cockerill put the performance down to strong operational delivery and the surging gold price, which rose 24% to $4,810 per ounce.
"We delivered a strong start to 2026, building on last year's momentum with another solid quarter of operational performance and record financial results," he said.
"We remain on track to achieve full-year guidance, with performance weighted towards the second half of the year, reflecting the mining sequence at our Houndé, Mana and Ity mines."
He added: "Our financial strength gives us flexibility to simultaneously start construction at Assafou and deliver on our sector leading shareholder returns programme. We expect to significantly exceed our minimum commitment for the year, and at prevailing gold prices, we could more than double it, supported by over $54 million of supplemental share buybacks completed already this year."
At 0945 BST, the shares were up 5.6% at 4,374p.
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