Loading...
•
Sep 30, 2025
FNV Q3 2025 Earnings Report
Franco-Nevada achieved record revenue and earnings in Q3 2025 driven by strong gold prices, new acquisitions, and resumed Cobre Panama deliveries.
Key Takeaways
Franco-Nevada reported record quarterly results for Q3 2025, with revenue up 77% year-over-year to $487.7 million. Net income reached $287.5 million and Adjusted EBITDA rose to $427.3 million. The company remained debt-free and saw 85% of revenue come from precious metals, primarily gold. The strong performance was supported by higher commodity prices, portfolio additions, and the sale of copper concentrate from Cobre Panama.
Revenue reached a record $487.7 million, up 77% from Q3 2024.
Adjusted Net Income rose to $275.0 million ($1.43 per share).
Adjusted EBITDA hit a record $427.3 million, an 81% increase.
Operating cash flow totaled $348.0 million, up 63% year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Franco-Nevada raised expectations for 2025, narrowing Total GEO sales guidance to the higher end of its original range, driven by strong gold prices and new contributions from recently acquired assets.
Positive Outlook
- Raised full-year Total GEO sales guidance to 495,000–525,000.
- Expect to exceed initial Precious Metal GEO sales guidance.
- Gold prices averaging $3,800/oz expected to sustain strong revenue.
- Côté Gold and Cobre Panama to support continued growth.
- Company remains debt-free with strong liquidity position.
Challenges Ahead
- Cobre Panama mine remains in preservation phase pending government resolution.
- Diversified asset revenue impacted by lower oil volumes.
- Natural gas price volatility could affect future earnings.
- Potential delays in project ramp-ups such as Salares Norte.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...