Barrick Gold Third Quarter 2022 Earnings: Revenues Beat Expectations, EPS Lags

Barrick Gold (TSE:ABX) Third Quarter 2022 Results

Key Financial Results

• Revenue: US$2.53b (down 11% from 3Q 2021).
• Net income: US$241.0m (down 31% from 3Q 2021).
• Profit margin: 9.5% (down from 12% in 3Q 2021). The decrease in margin was driven by lower revenue.
• EPS: US$0.14 (down from US$0.20 in 3Q 2021).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Barrick Gold Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates by 45%.

Looking ahead, revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Metals and Mining industry in Canada.

Performance of the Canadian Metals and Mining industry.

The company’s shares are down 8.1% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Barrick Gold that you need to take into consideration.

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