Franco-Nevada Reports Q3 2026 Results

Detailed summary

(in U.S. dollars unless otherwise noted) Tracking towards the mid-range of annual guidance TORONTO, Nov. 11, 2026 /CNW/ -- Franco-Nevada generated strong Q3 financial results.…

TORONTO, Nov. 11, 2026 /CNW/ -- Franco-Nevada generated strong Q3 financial results. Revenue, cash flow and earnings were all higher than the prior-year period, driven by stronger gold and oil prices. "Precious metal GEO deliveries were slightly below expectations in the period, although strong oil prices boosted our diversified revenue, and we are now tracking towards the mid-range of our annual guidance," stated Paul Brink, President & CEO. "During the quarter, First Quantum continued processing stockpiles at Cobre Panamá and the Panamanian Interministerial Commission recommended that the Government begin formal negotiations with First Quantum regarding the future of the mine.

In Q3 2026, we recognized revenue of $549.3 million, an increase of 13% from Q3 2025, and sold 130,435 GEOs, a decrease of 6% from Q3 2025. We benefited from higher commodity prices and increased contributions from our PGM and energy assets compared to Q3 2025. The increase in revenue was partially offset by lower contributions from Guadalupe-Palmarejo, Antapaccay, and Cobre Panamá.

Precious Metal assets accounted for 84% of our revenue in Q3 2026 (70% gold, 12% silver, and 2% PGM). Revenue was sourced 89% from the Americas (39% South America, 23% Canada, 17% U.S. and 10% Central America & Mexico).

Cobre Panamá remains in a phase of Preservation and Safe Management ("P&SM") with production halted.

On September 30, 2026, First Quantum reported that the Interministerial Commission formally delivered its final report on Cobre Panamá to the President, marking the Government of Panama's ("GOP") transition from technical assessment to the decision-making phase. The Interministerial Commission recommended assessing the feasibility of entering into a new agreement with Cobre Panamá / First Quantum that would provide for the settlement of the outstanding arbitration proceedings and establish conditions for a potential restart designed to achieve an orderly, self-financed closure, while complying with…

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