NYSE$GFI
Gold Fields Ltd-ADR · Q1 2023 earnings
Q1 2023 earnings · · Before market open · Investor relations
Briefing
Gold Fields reported a soft Q1 2023 performance, with lower production and higher unit costs impacting financial results.
In Q1 2023, Gold Fields posted attributable gold production of 577,000 ounces, flat QoQ, but earnings declined due to increased costs and inflationary pressures. AISC rose to $1,297/oz, and AIC climbed to $1,561/oz. Net debt increased to $875 million, but guidance for FY23 was reaffirmed, supported by stable operational output and progress on projects like Salares Norte.
- Gold production held steady at 577,000 ounces for Q1 2023.
- Earnings declined, with EPS at $0.11 and normalised EPS at $0.25.
- All-in costs rose to $1,561/oz due to higher sustaining capex and inflation.
- Net debt increased to $875 million, but financial position remained solid.
Headline financials
Revenue & EPS history
Gold Fields · Revenue · Quarterly
$1.11B
Forward guidance
Gold Fields reaffirmed its full-year guidance for production and costs, despite a soft Q1 impacted by cost pressures and operational issues. Key growth projects remain on track.
Tailwinds
- FY23 production guidance of 2.25–2.30Moz maintained
- AISC forecast range of $1,300–$1,340/oz reaffirmed
- Salares Norte project remained on schedule for Q4 production
- Gold price realised held up strongly at $1,926/oz
- No material safety incidents reported in the quarter
Headwinds
- AISC and AIC increased due to inflation and capex
- Free cash flow fell to $37M despite solid output
- Earnings declined with lower profit margins
- Operational challenges in South Africa and Peru impacted results
- Net debt increased by $117M from Q4 2022
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
-0.5%
Avg return
Earnings day
+1.7%
Avg return
5 days after
+7.5%
Avg return
30 days after
46%
17 / 37 earnings
Positive
+16.4%
Q2 2015
Best reaction
-11.7%
Q4 2014
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2023 | -4.4% | -8.2% | +11.8% | |
| Q3 2023 | +0.3% | +5.5% | +24.3% | |
| Q2 2023 | -10.0% | -7.9% | -3.4% | |
| Q1 2023 | -1.1% | -0.9% | -3.1% | |
| Q4 2022 | +1.7% | +6.7% | +18.8% | |
| Q2 2022 | -2.6% | -2.3% | -6.4% | |
| Q4 2021 | +3.7% | -5.5% | -13.6% | |
| Q3 2021 | +0.1% | +4.5% | -6.9% | |
| Q2 2021 | +1.9% | +3.6% | +10.8% | |
| Q4 2020 | +9.0% | +10.1% | +0.9% | |
| Q2 2020 | +2.6% | +1.0% | +39.8% | |
| Q4 2019 | +8.8% | +18.8% | +50.1% | |
| Q2 2019 | -6.3% | -4.3% | +3.9% | |
| Q4 2018 | -1.6% | +2.7% | +7.3% | |
| Q2 2018 | -0.8% | +2.2% | +3.1% | |
| Q4 2017 | -1.0% | -1.3% | +1.6% | |
| Q2 2017 | +0.0% | +4.4% | +18.5% | |
| Q4 2016 | -1.9% | -1.6% | -6.8% | |
| Q2 2016 | +5.5% | +3.8% | -8.6% | |
| Q4 2015 | -6.4% | — | — | |
| Q3 2015 | +15.2% | — | — | |
| Q2 2015 | +16.4% | — | — | |
| Q1 2015 | -10.0% | — | — | |
| Q4 2014 | -11.7% | — | — | |
| Q3 2014 | +0.3% | — | — | |
| Q4 2013 | +5.2% | — | — | |
| Q2 2013 | +0.2% | — | — | |
| Q4 2012 | -7.6% | — | — | |
| Q2 2012 | -1.6% | — | — | |
| Q4 2011 | -0.8% | — | — | |
| Q2 2011 | -1.8% | — | — | |
| Q1 2011 | +1.4% | — | — | |
| Q2 2010 | +1.4% | — | — | |
| Q4 2010 | +1.5% | — | — | |
| Q4 2008 | -7.6% | — | — | |
| Q4 2009 | -7.6% | — | — | |
| Q4 2007 | -7.6% | — | — |
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