Stock Analysis on Net

Newmont Corp. (NYSE:NEM)

This company has been moved to the archive! The financial data has not been updated since April 29, 2024.

Income Statement 
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Newmont Corp., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Sales 4,023 3,957 2,493 2,683 2,679 3,200 2,634 3,058 3,023 3,390 2,895 3,065 2,872 3,381 3,170 2,365 2,581 2,967 2,713 2,257 1,803
Costs applicable to sales (2,106) (2,303) (1,371) (1,543) (1,482) (1,780) (1,545) (1,708) (1,435) (1,540) (1,367) (1,281) (1,247) (1,355) (1,269) (1,058) (1,332) (1,459) (1,392) (1,366) (978)
Depreciation and amortization (654) (681) (480) (486) (461) (571) (508) (559) (547) (639) (570) (561) (553) (615) (592) (528) (565) (613) (548) (487) (312)
Reclamation and remediation (98) (1,235) (166) (66) (66) (758) (53) (49) (61) (1,626) (117) (57) (46) (250) (38) (40) (38) (115) (62) (73) (30)
Gross profit 1,165 (262) 476 588 670 91 528 742 980 (415) 841 1,166 1,026 1,161 1,271 739 646 780 711 331 483
Exploration (53) (73) (78) (66) (48) (62) (69) (62) (38) (62) (60) (52) (35) (69) (48) (26) (44) (67) (88) (69) (41)
Advanced projects, research and development (53) (68) (53) (44) (35) (60) (80) (45) (44) (46) (40) (37) (31) (30) (39) (26) (27) (48) (43) (32) (27)
General and administrative (101) (84) (70) (71) (74) (66) (73) (73) (64) (69) (61) (64) (65) (64) (68) (72) (65) (89) (84) (81) (59)
Impairment charges (1,891) (1,320) (25) (49) (2) (3)
Loss on assets held for sale (485) (571)
Other expense, net (73) (431) (37) (41) (8) (14) (11) (22) (35) (9) (43) (52) (39) (29) (118) (184) (53) (55) (35) (137) (68)
Operating income (loss) 400 (2,809) 238 366 505 (1,431) 295 540 799 (626) 66 961 856 920 998 431 457 519 458 12 288
Gain on formation of Nevada Gold Mines 24 2,366
Other income (loss), net 121 (212) 42 (17) 99 101 56 (75) (109) 185 (71) 50 (39) 87 (43) 197 404 161 31 90 45
Interest expense, net of capitalized interest (93) (81) (48) (49) (65) (53) (55) (57) (62) (66) (66) (68) (74) (73) (75) (78) (82) (84) (77) (82) (58)
Other income (expense) 28 (293) (6) (66) 34 48 1 (132) (171) 119 (137) (18) (113) 14 (118) 119 322 101 2,320 8 (13)
Income (loss) before income and mining tax and other items 428 (3,102) 232 300 539 (1,383) 296 408 628 (507) (71) 943 743 934 880 550 779 620 2,778 20 275
Income and mining tax (expense) benefit (260) (77) (73) (163) (213) (112) (96) (33) (214) (300) (222) (341) (235) (258) (305) (164) 23 (129) (558) (20) (125)
Equity income (loss) of affiliates 7 19 3 16 25 26 25 17 39 28 39 49 50 70 53 29 37 42 32 26 (5)
Net income (loss) from continuing operations 175 (3,160) 162 153 351 (1,469) 225 392 453 (779) (254) 651 558 746 628 415 839 533 2,252 26 145
Net income (loss) from discontinued operations 4 12 1 2 12 11 (5) 8 16 15 11 10 21 18 228 (68) (15) 28 (48) (26) (26)
Net income (loss) 179 (3,148) 163 155 363 (1,458) 220 400 469 (764) (243) 661 579 764 856 347 824 561 2,204 119
Net (income) loss attributable to noncontrolling interests (9) (10) (5) (12) (19) (7) (13) (21) 718 246 (11) (20) 60 (17) (3) (2) 4 (26) (25) (32)
Net income (loss) attributable to Newmont stockholders 170 (3,158) 158 155 351 (1,477) 213 387 448 (46) 3 650 559 824 839 344 822 565 2,178 (25) 87

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).


Sales
Sales figures demonstrate a generally fluctuating trend with significant increases and decreases over the analyzed periods. After reaching a peak around the end of 2020, sales saw variability before a sharp rise in the first quarter of 2024.
Costs applicable to sales
Costs show a similar fluctuating pattern with notable increases in the most recent quarters, peaking sharply near the end of 2023, which may have compressed profit margins during these periods.
Depreciation and amortization
This expense remained relatively stable over time, with minor variations but no clear upward or downward trend, indicating consistent asset base usage.
Reclamation and remediation
Costs related to reclamation and remediation exhibit considerable variability, with some quarters showing sharp increases, notably in late 2021 and late 2023, suggesting episodic environmental or regulatory expenses.
Gross profit
Gross profit generally follows the trend of sales but is affected by rising costs in certain quarters. Notably, large negative gross profit was recorded in the last quarter of 2021 and early 2024, indicating periods of loss at the gross margin level.
Exploration expenses
Exploration expenses remain fairly steady across all quarters without significant spikes, reflecting a consistent investment in exploration activities.
Advanced projects, research and development
These costs demonstrate slight increases in volatility, particularly with a notable increase in the latter half of 2022, but overall remain within a moderate range.
General and administrative expenses
General and administrative costs show moderate fluctuations but generally maintain a stable level, with some increase in the most recent quarters.
Impairment charges
Impairment charges are absent in many quarters but display significant negative spikes in specific periods including the last quarter of 2021 and late 2023, suggesting occasional substantial write-downs.
Loss on assets held for sale
Losses under this item appear intermittently with notable impacts in some quarters, such as late 2021 and early 2024, indicating asset disposals at a loss during these times.
Other expense, net
Net other expenses vary substantially, with large negative amounts in mid-2020 and late 2023, implying irregular and substantial miscellaneous charges or losses during those periods.
Operating income (loss)
Operating income exhibits considerable volatility, with notably positive values interspersed with sharp losses including a significant negative figure in the last quarter of 2021 and an extreme loss late in 2023, corresponding to impairment and other expenses.
Gain on formation of Nevada Gold Mines
A major gain was recorded in the third quarter of 2019, which stands out as a one-time event boosting that quarter’s financial results significantly.
Other income (loss), net
Other income and losses fluctuate with no clear pattern, showing both positive and negative values, including a severe negative value in late 2023, contributing to volatility in pre-tax income.
Interest expense, net of capitalized interest
Interest expenses generally trend downward over the period, suggesting improvements in debt management or lower interest rates, although recent quarters show slight increases.
Other income (expense)
This category displays high variability with several large positive spikes in 2019 and notable negative values in late 2023, indicating irregular income or expense items affecting net results.
Income (loss) before income and mining tax and other items
Pre-tax income demonstrates substantial variability, with peaks driven by one-time gains and substantial declines associated with impairments and other charges, significantly impacting the company’s profitability across quarters.
Income and mining tax (expense) benefit
Tax expenses fluctuate in relation to pre-tax income, with some quarters showing tax benefits or reduced expenses corresponding to losses or reduced taxable income. Spikes in tax expense align with profitable quarters.
Equity income (loss) of affiliates
Equity income from affiliates remains relatively stable and positive, contributing moderately to overall net income throughout the periods examined.
Net income (loss) from continuing operations
Net income from continuing operations follows a pattern similar to operating income, with substantial positive earnings in many quarters but also large losses especially at the end of 2021 and late 2023, reflecting operational and impairment impacts.
Net income (loss) from discontinued operations
This item is minor relative to continuing operations and generally fluctuates near zero, with no significant impact on overall net income.
Net income (loss)
Overall net income mirrors the trends of continuing operations, showing strong performance dominated by the gain on Nevada Gold Mines in 2019, followed by periods of volatility and losses linked to impairments and other expenses.
Net (income) loss attributable to noncontrolling interests
Amounts related to noncontrolling interests are generally small relative to net income but show occasional spikes suggesting minor variability in minority ownership results.
Net income (loss) attributable to Newmont stockholders
Net income attributable to shareholders reflects the compounded effects of operational results, impairments, and one-off gains, showing substantial volatility. Particularly sharp declines are observed at the end of 2021 and late 2023, while early 2024 exhibits a recovery.