OREANDA-NEWS. GOLDCORP INC. (TSX: G, NYSE: GG) today reported adjusted quarterly revenues1 of USD 1.1 billion, generating adjusted net earnings1,2 of USD 70 million, or USD 0.09 per share, compared to adjusted net earnings of USD 190 million, or USD 0.23 per share, in the third quarter of 2013. Adjusted operating cash flow1,3 was USD 399 million, compared to adjusted operating cash flow of USD 375 million in the third quarter of 2013. The Company also announced the on-schedule commencement of gold production at the Eleonore mine in Quebec, including first gold poured on October 1, 2014.

The Company reported a net loss for the quarter of USD (44) million, or USD (0.05) per share compared to net earnings of USD 5 million, or USD 0.01 per share, in the third quarter of 2013. Both reported earnings and adjusted earnings were negatively impacted by a USD 36 million, or USD 0.04 per share, non-cash reduction in the value of low-grade stockpiles at Penasquito.

Third Quarter 2014 Highlights

Gold sales1 of 641,400 ounces on gold production1 of 651,700 ounces.

Adjusted revenues of USD 1.1 billion.

All-in sustaining costs of USD 1,0661,4 per ounce.

Adjusted net earnings of USD 70 million, or USD 0.09 per share.

Adjusted operating cash flow of USD 399 million.

Dividends paid of USD 122 million.

Ramp-up at Cerro Negro in Argentina and Eleonore in Quebec progressing on schedule.

"The continued ramp-up of new mines Cerro Negro and Eleonore, coupled with stable performance at our existing mines position us for a strong finish to 2014," said Chuck Jeannes , Goldcorp President and Chief Executive Officer. "We expect to meet our 2014 production guidance, but the lower-than-expected production at El Sauzal due to pit wall instability and the second-quarter stoppage at Los Filos will cause gold production to be at the low end of our previously guided range of between 2.95 million and 3.1 million ounces. With respect to cost guidance, the success of our Operating for Excellence programs has exceeded our expectations, with over USD 185 million of additional savings already realized through the first nine months of 2014 versus our previous target of USD 100 million for the year. This performance is expected to help drive all-in sustaining costs toward the low end of our guided range of between USD 950 and USD 1,000 per ounce for the year. With new project capital spending beginning to wind down, Goldcorp remains well-positioned for sustained growth in free cash flow in 2015 and beyond."