Orla Mining Returns to Profit With First Quarter Net Income
The gold producer reported net income of $75.4 million for the three months ended March 31, 2026.
Orla Mining Ltd. (ORLA), a gold producer, returned to profitability in the first quarter of 2026, reporting net income of $75.4 million. The company reported basic earnings of 0.22 a share, compared to a basic loss of 0.22 a share in the same period the previous year.
Revenue for the three months ended March 31, 2026, rose to $378.9 million, up from $140.7 million in the first quarter of 2025. The company said this revenue was generated from the sale of 81,540 ounces of gold. Total gold production for the quarter was 81,206 ounces, with 62,985 ounces coming from Musselwhite and 18,221 ounces from Camino Rojo.
Earnings from mining operations rose to $223.3 million from $72.3 million in the prior-year period. Operating costs for the quarter were $95.4 million, while royalties totaled $12.4 million. The company reported a consolidated all-in sustaining cost of $1,668 per ounce of gold sold.
Cash flow from operating activities reached $112.4 million. This followed a period of significant investing activity in 2025, which included $798.5 million paid for the acquisition of Musselwhite Mine Ltd.. During the first quarter of 2026, the company spent $36.1 million on exploration and project expenditures, capitalizing $30.1 million of that amount.
Liabilities decreased to $1.35 billion from $1.42 billion as of December 31, 2025. This included a reduction in long-term debt to $286.1 million from $335.7 million. The company also made $35 million in repayments to its credit facility during the quarter.
Orla Mining remains on track to achieve full-year production guidance of 340,000 to 360,000 ounces.