Research memoEndeavour Mining plc (EDV.L) · LSEMemo of October 19, 2026

Endeavour earnings date

Endeavour's next results are expected on November 12, 2026. Watch whether Mana's planned Q4 recovery appears in actual ore access, grades and processing.

November 12, 2026
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Every number traced to Endeavour's filings8 chapters · 17,442 words169 sources cited

What has Endeavour guided for 2026?

For 2026, management guides to group production of 1,090–1,265 koz. Group AISC guidance is US$1,600–1,800/oz. It is based on a US$3,000 gold assumption. Mana is expected below 155 koz and above US$2,250/oz AISC. Minimum dividends are US$300 million for FY2026 and US$325 million for FY2027.

Guidance in forceUS$ millions, except production in koz and AISC in US$/oz
Period guidedLowHighDate given
Mana, production outlook (gold, koz)Year to Dec 2026155Jul 30, 2026
Group Production, production (gold, koz)Year to Dec 20261,0901,265Jul 30, 2026
Mana, all-in sustaining cost (US$/oz)Year to Dec 20262,250Jul 30, 2026
Group AISC, all-in sustaining cost (US$/oz)Year to Dec 20261,6001,800Jul 30, 2026
Minimum shareholder dividend, FY-2026Year to Dec 2026300.0Jul 30, 2026
Minimum shareholder dividend, FY-2027Year to Dec 2027325.0Jul 30, 2026

What this means. For Mana, a blank low or high is intentional: production is shown only as a maximum and cost only as a minimum because the latest outlook moved outside the old range.

Has Endeavour kept its past promises?

Production landed within the upper half of guidance, continuing the company’s long record of meeting plans. Yet group delivery can hide a weak mine if another site performs unusually well. “Attributable production” means only Endeavour’s ownership share, while headline guidance generally describes 100% of mine output. Comparisons must use the same basis.

What is Endeavour's revenue and profit trend?

Revenue and operating income rose from the comparable quarter, while net income and diluted EPS fell. Production was about 283,000 ounces, down from 306,000 a year earlier, but the realised gold price was much higher. Ity improved after maintenance, while Mana lost Siou feed, Lafigué processed lower grades and Sabodala-Massawa underwent maintenance.

The last eight reported periodsUS$ millions
Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,220.31,349.01,273.8910.11,008.21,041.8940.5705.9
Gross margin50.2%56.8%51.4%46.7%47.7%51.1%37.9%33.2%
Operating income558.0724.8358.8386.3427.8465.898.178.8
Net income250.8353.967.8167.3270.9173.2-119.1-95.1
EPS, diluted1.021.440.280.681.100.70-0.49-0.39
Cash from operations317.3737.4609.0308.5252.0494.2381.4254.8

What this means. The gross margin here uses earnings from mine operations, so it may not match the usual gross margin shown in other company reports.

What should Endeavour watchers look for next?

The company expects to report before the London market opens, followed by a webcast at 1:30 p.m. GMT. Investors should look for evidence that the planned Q4 recovery is developing through actual ore access, grades and processing, not merely through repeated guidance.

Before year-end, investors should also examine Assafou’s investment decision and first underground ore at Sabodala-Massawa. The important details are the approved scope, contracts, spending schedule and evidence that underground development is becoming a dependable source of plant feed.

From the full memo · 1. The business

Endeavour Mining is a West African gold producer: it turns ore from its mines into gold and sells the recovered metal into a global market. To understand how a dollar moves through the business, follow it from rock, to doré, to payment, and then through the costs of keeping the mines alive.

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