OceanaGold Corp (TSX:OGC)

Q2 2026 OceanaGold Corp Earnings Call Transcript

Aug 6, 2026 / 02:00 PM GMT

Release Date Price: C$36.77 (-2.39%)

Transcript

Key Points

Positve

OceanaGold Corp (OGC) delivered a strong second quarter with gold production up 7% quarter-over-quarter, keeping the company on track to meet its full-year guidance.
The company achieved a record quarterly adjusted EBITDA margin of 61%, driven by lower cost of sales and strong operational performance.
OceanaGold Corp (OGC) generated $130 million in free cash flow during the quarter, bringing year-to-date free cash flow to $385 million, while also returning $78 million to shareholders through dividends and buybacks.
The balance sheet remains robust, with cash increasing 6% to $655 million and the company maintaining a debt-free status.
Significant progress was made on key growth projects, including the Waihi North project and the Palomino Underground mine, with development advancing in line with plan.
Record mill throughput was achieved at both Haile and Waihi, reflecting successful mill optimization initiatives and improved asset reliability.
Exploration efforts are yielding positive results, with high-grade drill results released from multiple targets at Haile, highlighting significant upside potential in the portfolio.
The company has extended diesel hedges to cover 80% of requirements across all operations from Q1 2027, mitigating future fuel cost volatility.
Macraes delivered an exceptional first half, producing 64% of its guidance midpoint, and celebrated a milestone of 6 million ounces of gold produced.
OceanaGold Corp (OGC) expects stronger production and lower all-in sustaining costs in the second half of the year, particularly in the fourth quarter.

Negative

All-in sustaining costs for the year are anticipated to be near the upper end of the 2026 guidance range due to labor cost inflation, higher diesel prices, and lower silver byproduct credits.
The company experienced labor cost inflation, particularly at Haile, which has no currency protection, and faces higher costs from maintenance contractors.
OceanaGold Corp (OGC) is unhedged on diesel at Haile and Didipio, exposing it to potential cost increases if oil prices remain elevated.
Waihi's all-in sustaining costs were impacted in the quarter by processing lower-grade stockpile material, though this is expected to improve in the second half.
The company anticipates an increase in growth capital expenditures in the second half of the year for the Waihi North project and Palomino Underground, along with more waste-driven stripping.
Macraes production is expected to step down in the second half of the year, which could impact overall production levels.
The company faces potential cost pressures from the Iran conflict, though no operational disruptions have occurred to date.
Higher annual tax and government cash payments were made in the quarter, impacting cash flow generation.
The company's reliance on contractors for maintenance increases exposure to market labor rate inflation, particularly in the U.S.
Despite strong performance, the company's copper production in the quarter was modest at 2,700 tons, with expectations for stronger output in the second half.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

OGC.TO - OceanaGold Corp
Q2 2026 OceanaGold Corp Earnings Call
Aug 06, 2026 / 02:00PM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Good day ladies and gentlemen and welcome to the Oceanic Gold Corporation Q2 2026 Earnings Conference Call.

At this time, all participants are in a listen-only mode.

Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press *0 for the operator.

This call is being recorded on Thursday, August 6, 2026.

I would now like to turn the conference over to Valerie Burns. Please go ahead.

--------------------------------------------------------------------------------
Unidentified_2 [2]
--------------------------------------------------------------------------------
Good morning, everyone, and

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.