05:31 PM EST, 02/19/2026 (MT Newswires) -- Eldorado Gold ( EGO ) was at last look up 1.2%% in after-hours trade New York trading Thursday after it posted a fourth-quarter adjusted earnings beat, flagging significant free cash flow excluding Skouries and increased cash generated from operating activities, while it separately provided 2026 guidance, a three-year outlook that targets 40% gold production growth and a Skouries construction update.

The company reported adjusted earning per shar, excluding most one-time items, of US$0.63 per share. The consensus forecast at FactSet was $0.57

Separately, Eldorado provided 2026 production and cost guidance, together with a three-year production outlook that "reflects the company's near-term growth profile and step-change to a higher steady-state production level from 2027 onward". It noted consolidated 2026 cost guidance includes the company's current operating mines: the Lamaque Complex, Kisladag, Efemcukuru and Olympias.

Eldorado also noted cost guidance for Skouries is presented separately. First concentrate production at Skouries has been delayed by approximately one quarter to early Q3 2026, with commercial production expected in Q4 2026. As Skouries advances through ramp-up and reaches commercial production, the company expects to provide updated consolidated cost guidance.

In 2026 guidance highlights, Eldorado cited total gold production of 490,000 to 590,000 ounces, representing an 11% increase from 2025,assuming the mid-point of the range. On operations, it cited gold production of 430,000 to 490,000 ounces; total cash costs of US$1,220 to US$1,420 per ounce sold; all-in sustaining costs of US$1,670 to US$1,870 per ounce sold; growth capital at operations of US$375 million to US$405 million; sustaining capital of US$140 to US$165 million; and other growth capital of approximately US$65 million, consisting of US$50 million towards GHG mitigation projects and US$15 million towards advancement of Perama Hill.

Eldorado flagged exploration expenditures of US$75 to US$85 million, focused on resource conversion drilling at the Lamaque Complex and Olympias, as well as resource growth and discovery programs in Canada, Turkiye and Greece.

The company said the three-year outlook reflects an "exciting inflection to significant cash generation in the second half of 2026, with Skouries transitioning into production". It added this positions the company to unlock the full growth potential of the operation in 2027 when Eldorado is expected to achieve a new steady-state production profile, representing approximately 40% growth in gold production compared to 2025.

Eldorado shares were last seen up US$0.57 to US$48.20 after hours. They closed up $0.98 to $65.19 on the Toronto Stock Exchange.