B2Gold Earnings Miss Estimates in Q2, Revenues Increase Y/Y

Core Insights - B2Gold Corp (BTG) reported adjusted earnings per share (EPS) of 10 cents for Q2 2025, missing the Zacks Consensus Estimate of 15 cents, but showing improvement from 6 cents in the prior-year quarter [1] - The company generated revenues of $692 million in Q2 2025, a 40% increase from $493 million in the prior-year quarter [8] - Consolidated gold production reached 229,454 ounces, up 12.3% year over year, exceeding the company's expectations [2] Financial Performance - B2Gold's consolidated cash operating costs were $798 per ounce, down 4.9% year over year, while all-in sustaining costs rose 36.8% to $1,721 per ounce [3] - The total cost of sales increased by 22% year over year to $341 million, with gross profit rising 34.8% to $351 million, resulting in a gross margin of 50.8%, up from 43.3% [4] - Operating income for the quarter was $329.5 million, significantly higher than $31 million in the prior-year quarter [4] Cash Flow and Balance Sheet - Cash and cash equivalents at the end of Q2 2025 were $308 million, down from $337 million at the end of 2024, while cash generated from operating activities was $255 million compared to $62 million in the year-ago quarter [5] - Long-term debt decreased to approximately $411 million from $421 million at the end of 2024 [5] Production Guidance - B2Gold is on track to meet its total gold production guidance of 970,000-1,075,000 ounces for 2025, following a production of 804,778 ounces in 2024 [6] Stock Performance - B2Gold's shares have increased by 61.7% over the past year, outperforming the industry average increase of 59.9% [7]