Regis Resources Ltd (ASX:RRL) has reported a sharp turnaround in its full-year results, posting a record net profit after tax (NPAT) of $254 million for the 2025 financial year, driven by surging gold prices and stronger operating margins. That compares to a $186 million loss a year earlier.
The Perth-based gold miner said underlying earnings (EBITDA) more than doubled to a record $780 million at a margin of 47%, while operating cash flow rose to $821 million. Gold sales jumped 30% to $1.65 billion, supported by a 47% lift in the average realised gold price to $4,387 an ounce.
The company ended the year debt free with $517 million in cash and bullion, after repaying $300 million of debt. A final fully franked dividend of 5 cents per share was declared, bringing total dividends returned to shareholders since 2013 to $585 million.
Guidance and strategy
Looking ahead, Regis is guiding FY26 production of 350,000–380,000 ounces at an all-in sustaining cost (AISC) of $2,610–$2,990 an ounce, including $170/oz of non-cash stockpile draw. The outlook reflects higher cost pressures across the Duketon and Tropicana operations, with growth capital expenditure expected at $180–195 million.
Managing director Jim Beyer said the business “ran to plan” through FY25, delivering record cash outcomes while strengthening the balance sheet. “In FY26 we will stay focused on reliable, consistent and safe production with cost discipline,” he said.
Market reaction
Despite the profit milestone, the results came in slightly below analyst forecasts. Net profit was about 8% under consensus estimates, while revenue narrowly missed expectations. Investors also weighed higher cost guidance and lower production compared with FY24 levels.
Regis shares fell sharply in Thursday trade and were down more than 7% at 2:40 pm AEST. The stock is now off around 30% from its June highs, under pressure from concerns about rising costs and moderating production even as the gold price remains strong.