Key Highlights

● Second-quarter revenue rose 50 per cent year over year to $647.3 million.

● Adjusted EBITDA margin reached a record 61 per cent for the quarter.

● Gold production rose 7 per cent sequentially to 138.8 thousand ounces.

● All-in sustaining costs rose to $2,151 per ounce from $2,094 in the first quarter.

OceanaGold (NYSE:OGC)'s common shares began trading on the New York Stock Exchange on 7 April 2026 under the ticker OGC, according to the company, which also said its US over-the-counter quotation was discontinued. The shares remain listed in Toronto, where they trade in Canadian dollars under the same symbol. OceanaGold reports in US dollars, and the figures below are in dollars unless stated.

Second-quarter performance

The quarter to 30 June 2026 was reported on 5 August 2026. Revenue was $647.3 million, down 9 per cent from the first quarter and up 50 per cent on a year earlier, on 135.8 thousand ounces of gold sold at an average realised price of $4,433 per ounce. Attributable net profit was $222.2 million, or $0.99 per diluted share. Adjusted EBITDA was $398.0 million, a record 61 per cent margin. Gold production was 138.8 thousand ounces, 7 per cent above the first quarter, with Haile contributing 59.5 thousand, Macraes 41.4 thousand, Didipio 21.4 thousand and Waihi 16.5 thousand. Didipio also produced 2.7 thousand tonnes of copper. Operating cash flow was $313.6 million, and liquidity was $854.8 million including the undrawn facility. Capital investment for 2026 is planned at $645 million. It had 222,447,523 common shares outstanding on 5 August 2026. Development of the Wharekirauponga decline began in May, and Macraes produced its six millionth ounce in July.

Costs, cash and returns

All-in sustaining costs were $2,151 per ounce, up from $2,094 in the first quarter. Free cash flow was $130.1 million, or $385.3 million for the first half. Cash was $654.8 million with no debt drawn and an undrawn $200 million revolving facility. The company spent $57.5 million on buybacks in the quarter, with up to $350 million approved for 2026, and declared a dividend of $0.09 per share payable on 18 September 2026.

Rising Costs Are Outpacing the Company's Own Guidance Range

OceanaGold's record margin reflects a gold price well above its cost base, but per-ounce costs are climbing faster than the company's unchanged full-year guidance assumed, with year-to-date all-in sustaining costs of $2,123 already above the top of its $1,750-1,900 guided range. Haile's open-pit mining costs rose 60 per cent year on year and Waihi's reached $2,840 an ounce, so the gap between a record margin and rising unit costs is the detail to watch as the company's newer NYSE listing, begun in April 2026, gains a longer trading history.