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Dec 31, 2024
FNV Q4 2024 Earnings Report
Franco-Nevada reported strong Q4 2024 results, with revenue increasing 6% year-over-year despite lower gold equivalent ounces (GEOs) sold. Net income rebounded from a loss in Q4 2023 to $175.4 million.
Key Takeaways
Franco-Nevada reported Q4 2024 revenue of $321.0 million, representing a 6% increase from Q4 2023, driven by elevated gold prices. The company achieved net income of $175.4 million, a significant improvement from the prior year’s loss. Adjusted net income rose to $183.3 million, while Adjusted EBITDA reached $277.4 million. GEO sales declined 21% year-over-year, primarily due to the halt in production at Cobre Panama.
Revenue increased by 6% year-over-year to $321.0 million.
Net income rebounded to $175.4 million from a prior-year loss.
GEO sales declined 21% due to Cobre Panama production halt.
Adjusted EBITDA reached $277.4 million, up 9% from Q4 2023.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Franco-Nevada expects revenue to increase by more than 25% in 2025, supported by higher gold prices and contributions from new acquisitions. GEO sales are forecasted to rise, particularly in the Precious Metals segment. The company remains debt-free and well-capitalized for future growth.
Positive Outlook
- 2025 revenue expected to be 25% higher than 2024.
- Projected 14% increase in Precious Metal GEO sales.
- New acquisitions to drive future revenue growth.
- Continued strong financial position with no debt.
- Dividend increase of 5.6% to $0.38 per share.
Challenges Ahead
- Cobre Panama remains halted, impacting GEO sales.
- Lower oil and gas prices could affect diversified revenue.
- Lower expected contribution from some diversified assets.
- Tax rate projected to increase to 19-21%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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