{
  "id": 3709163,
  "title": "Earnings call transcript: Harmony Gold posts record H2 2026 profit, shares slip",
  "url": "https://urgent.news/2026/08/27/earnings-call-transcript-harmony-gold-posts-record-h2-2026-profit",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-27T09:19:26.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/transcripts/earnings-call-transcript-harmony-gold-posts-record-h2-2026-profit-shares-slip-93CH-4878686"
  },
  "original_language": "en",
  "account": "Harmony Gold Mining Company announced record financial results for the second half of 2026, with revenue increasing 34% to ZAR 99.2 billion and net profit soaring 102% to ZAR 30 billion. Headline earnings per share climbed 87% to ZAR 43.63, while adjusted free cash flow hit a record ZAR 17 billion. Despite the strong performance, the stock dipped 2.85% in premarket trading to $21.79 from the prior close of $22.43, indicating investors were concerned about higher spending plans, hedge losses, and production transition risks.\n\nRevenue rose 34% to ZAR 99.2 billion, driven by higher gold prices and robust operating results. Net profit more than doubled to ZAR 30 billion, demonstrating strong operating leverage. Headline earnings per share increased 87% to ZAR 43.63. Adjusted free cash flow reached a new record of ZAR 17 billion, enabling a record final dividend of ZAR 7.50 per share. Harmony maintained a nearly ungeared balance sheet, with net debt of only ZAR 852 million.\n\nThe company reaffirmed its gold production guidance for the 11th consecutive year, reaching 1.43 million ounces. Copper output from CSA increased to 18,200 tons, the upper range of expectations. Strong gold prices were the primary factor behind the impressive results, although the main driver was operational leverage. All-in sustaining costs rose 13%, while the average gold price received increased 35%, widening the margin between price and cost to 42% from 31% a year earlier.\n\nManagement emphasized the company's diversification beyond gold, with meaningful copper exposure through CSA and the Eva Copper project in Australia. This shift aims to reduce risk and improve production stability. Revenue for the period was ZAR 99.2 billion, up 34% year over year, and net profit rose to ZAR 30 billion, a 102% increase. Headline earnings per share stood at ZAR 43.63, up 87%, while operating cash flow increased 48% to ZAR 33.6 billion. Adjusted free cash flow climbed 54% to ZAR 17 billion, and cash and cash equivalents reached ZAR 8.6 billion. Total liquidity stood at ZAR 17.1 billion, approximately $1 billion, with net debt of ZAR 852 million, resulting in a net debt-to-EBITDA ratio of 0.02. The company's final dividend for the year was ZAR 7.50 per share, with total dividends for the year amounting to ZAR 8.2 billion.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Earnings call transcript: Fenix posts record FY 2026 as output and profit jump",
        "url": "https://urgent.news/2026/08/27/earnings-call-transcript-fenix-posts-record-fy-2026-as-output-and",
        "published": "2026-08-27T03:00:22.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}