HMY's FY25 Earnings and Sales Rise Y/Y, Production Decreases

Core Insights - Harmony Gold Mining Company Limited (HMY) reported adjusted earnings of $1.29 per share for fiscal 2025, a 30% increase from the previous year's adjusted earnings of 99 cents [1][6] - Revenues for fiscal 2025 rose 24% year over year to $4,071 million, with average gold prices received increasing 31% to $2,620 per ounce [1][6] Production and Costs - Gold production for fiscal 2025 was 1,479,671 ounces, reflecting a 5% decrease year over year [2][6] - Cash operating costs per ounce increased by 19% year over year to $1,499, while all-in-sustaining costs rose 20% to $1,806 per ounce [2][6] Financial Overview - As of June 30, 2025, cash and cash equivalents increased by 186% year over year to $738 million [3][6] - Total adjusted free cash flow surged 58% year over year to $614 million in fiscal 2025 [3][6] - Long-term debt at the end of fiscal 2025 was $107 million, up approximately 9% year over year [3][6] Outlook - Harmony Gold anticipates producing between 1.4 million and 1.5 million ounces of gold in fiscal 2026 [4] - Capital expenditures for fiscal 2026 are projected to rise to $699 million due to investments in high-quality ounces and long-term growth initiatives [4] Stock Performance - Shares of Harmony Gold have increased by 38.7% over the past year, compared to a 59.3% growth in the industry [5][6]