Endeavour Silver earns $26.4 million but cuts 2026 silver output guidance by about 6%

Endeavour Silver reported third-quarter net earnings of $26.4 million, or $0.09 a share, against a loss of $42.0 million a year earlier, in its results filed with the SEC on a 6-K. The profit came with a warning: the company cut its 2026 production guidance and raised its cost guidance.

The numbers behind the profit

Output in the quarter was 2,096,545 ounces of silver and 10,126 ounces of gold, about 3.6 million silver-equivalent ounces. Sales were 1,900,368 ounces of silver and 9,499 ounces of gold.

Where it fell short

The earnings came mostly from metal prices, not from operations running ahead of plan. The company's revised 2026 guidance shows it:

• Silver production of 7.8 to 8.1 million ounces, down from 8.3 to 8.9 million.
• Gold production of 42,000 to 43,500 ounces, down from 46,000 to 48,000.
• Silver-equivalent production of 13.7 to 14.3 million ounces, down from 14.6 to 15.6 million.
• Direct operating costs of $155 to $165 a tonne, up from $140 to $150.
• Sustaining and growth capital of $181.4 million, up from $157.8 million.

The Q3 cash cost of $16.55 an ounce is also above the earlier consolidated guidance of $12.00 to $13.00, the filing notes. Coverage of the production update cited a 12-day blockade at the Terronera mine in August and mill repairs at Guanaceví as drags on throughput (The Deep Dive).

What it shows about the silver trade

At a realized $62.42 an ounce, a miner with costs near $30 an ounce all-in earns a wide margin, which is why a company can post a profit while missing its own volume targets. The flip side is that guidance misses matter more when the metal does the heavy lifting: lower volumes at high prices still pay, but cost creep eats into the cushion if silver slips. Gold was lower after the hot October CPI on the same day.

What we are watching

The company said it has a $25 million revolving credit facility, entered August 5, that is undrawn, and expects its Pitarrilla feasibility study in the fourth quarter of 2026. Our gold chart and markets page track the metals that drive the group. We did not verify the day's share-price move from a primary source, so we give only the closing price in the chart data.

Sources: Endeavour Silver Q3 2026 financial results and MD&A (Form 6-K) on SEC EDGAR; company filings; price history via Yahoo Finance. This is market information, not investment advice.