Equinox Gold Posts Record Revenue After Orla Deal as Q3 2026 Earnings Season Delivers Mixed Results

Equinox Gold headlined a busy November 10 earnings day by reporting record quarterly revenue of $1.0 billion and adjusted EBITDA of $533.0 million for Q3 2026, driven by its combination with Orla Mining, which closed on July 31, 2026. The company produced 237,019 ounces of gold and sold 248,484 ounces at an average realized price of $4,157 per ounce. Cash costs fell 9% from Q2 to $1,654 per ounce and all-in sustaining costs dropped 4% to $2,091 per ounce, with the Q3 figures reflecting only two months of contribution from the Orla assets, Musselwhite in Canada and Camino Rojo in Mexico.

Summit Midstream was another standout, posting Q3 adjusted EBITDA of $70.7 million, up 16% from Q2, and raising its full-year 2026 guidance range to $250 million to $260 million from a prior $235 million to $255 million. The company's Double E pipeline hit a record throughput of 1,002 MMcf per day, up 17% quarter-over-quarter, and Summit reached a final investment decision on a Double E mainline compression expansion to serve growing Permian Basin demand.

National Health Investors beat earnings expectations, with NAREIT FFO per diluted share rising 2.8% year-over-year to $1.12 for Q3, though net income per share was elevated by a $541.6 million gain on the sale of its National Healthcare Corporation leased portfolio completed July 1, 2026. Despite the EPS beat, shares fell on the day. Janus International slumped after missing Q3 estimates, while Urban One's loss widened and its stock dropped 7.7%. Ranger Energy Services and Keyera also missed their respective forecasts, with Keyera reporting a quarterly loss on revenue that fell short of expectations. Office Properties Income Trust bucked the trend, rising on Q3 progress.