OCEANAGOLD (Philippines) Inc. (OGP) saw a 4.8-percent increase in third-quarter net income to $28.3 million (about P1.78 billion), bringing earnings in the first nine months of 2026 to $95.6 million (about P6.0 billion), or nearly double last year’s $49 million.
In a disclosure on Thursday, the company said revenues grew 37 percent to $434.4 million despite lower output, which was more than offset by higher gold and copper prices around July to September, as well as improved operating costs.
Nine-month gold production declined to 64,500 ounces from 66,900 ounces a year earlier, while copper output fell to 9,300 metric tons from 10,200 metric tons.
For the third quarter alone, OGP reported revenue of $149.1 million, up 5.2 percent from $141.7 million, while net income rose to $28.3 million from $27 million.
Gold production in the quarter increased to 22,700 ounces from 21,900 ounces, while copper output grew to 3,400 metric tons from 3,100 metric tons.
President Joan Adaci-Cattiling said the company maintained safe and responsible gold and copper production in line with its guidance, with prevailing gold prices and solid operating performance supporting cash generation.
OGP declared a total dividend of $26 million in the third quarter, equivalent to $0.0114 per common share, or approximately P0.7295 per share based on an exchange rate of P63.991 to the dollar.
Payment will be made on Dec. 17 to shareholders on record as of Nov. 19, with the payment to be made in Philippine pesos using the prevailing exchange rate on the processing date.
The company said it remained on track to meet its full-year 2026 production and cost guidance, with output expected to increase in the fourth quarter as underground mining rates improve.
OGP shares on Thursday rose P0.75, or 2.27 percent, to close at P33.75 each amid a 1.46-percent gain for the benchmark Philippine Stock Market index.
