Eldorado Gold (EGO) Posts 52% Revenue Jump as Skouries Project Nears Completion
During the quarter, total revenue reached $451.7 million, a 52% year-over-year increase. The company stated the growth came on the back of higher gold prices and production. Net earnings from continuing operations were $139 million ($0.68 per share), up from $56.4 million ($0.28 per share) in Q2 2024, and adjusted net earnings came in at $90.1 million ($0.44 per share).
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The company produced 133,769 ounces of gold in the quarter, with sales of 131,489 ounces at an average realized gold price of $3,270 per ounce. However, production costs ramped up by 27% year-over-year to $162.2 million, and all-in sustaining costs (AISC) reached $1,520 per ounce (up 14%). The company attributed the rising costs to higher royalties (from elevated gold prices), as well as increased labor expenses. The Skouries project remains Eldorado's most important growth initiative, now 70% complete as of Q2 2025.
Eldorado Gold Corporation (NYSE:EGO) is a Canadian mining company. It acquires, explores, develops, and operates gold and base metal properties, primarily through its Kisladag and Efemçukuru gold mines in Türkiye, the Lamaque gold mine in Quebec, Canada, and the Olympias and Skouries copper-gold projects in Greece. Its main product is gold bullion, extracted from both open-pit and underground mining operations.
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READ NEXT: and Top 10 Medical AI Companies to Buy According to Analysts.
Disclosure: None. This article is originally published at Insider Monkey.
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