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Franco-Nevada Reports Q3 2026 Results

  • Franco-Nevada reported Q3 2026 revenue of $549.3 million, a 13% increase from the prior year, driven by higher gold & oil prices.
  • Adjusted EBITDA for the quarter reached $493.9 million ($2.56 per share), up 15% year-over-year.
  • Net income for Q3 2026 was $395.5 million ($2.05 per share), representing a 38% increase compared to Q3 2025.
  • The company sold 130,435 Gold Equivalent Ounces (GEOs) in Q3, a 6% decrease from the previous year, while Year-to-Date GEO sales rose 6% to 399,193.
  • Operating cash flow for the quarter was $429.2 million, up 23%, with Year-to-Date operating cash flow reaching a record $1,432.1 million.
  • Revenue from diversified assets increased to $86.8 million in Q3, supported by strong oil prices & higher energy production.
  • Precious metals accounted for 84% of Q3 revenue, with gold, silver, & PGMs comprising the majority of the portfolio.
  • Cobre Panamá operations remain in Preservation & Safe Management (P&SM) with production halted, though First Quantum is processing stockpiles.
  • The Panamanian Interministerial Commission recommended formal negotiations with First Quantum regarding a potential restart of Cobre Panamá.
  • Franco-Nevada recorded a $10.3 million impairment reversal related to expected stream deliveries from Cobre Panamá.
  • The company amended its royalty agreement with Discovery Mining Ltd. to extend coverage to adjacent properties in Ontario for $8.0 million.
  • Franco-Nevada acquired a second tranche of royalty on the Bullabulling Gold Project in Australia, increasing its gross royalty interest to 3.90%.
  • The company subscribed for an additional $21.0 million in Minerals 260 Limited shares subsequent to the quarter-end.
  • The 2026 YTD guidance for total GEOs has been narrowed toward the midpoint of the original range due to strong energy performance.
  • The Board declared a quarterly dividend of $0.44 per share, payable on December 17, 2026, to shareholders of record on December 3, 2026.
  • IAMGOLD exercised its right to buy back 50% of the Côté Gold GMR for at least $525.0 million, expected to close in December 2026.
  • Franco-Nevada maintains $4.8 billion in available capital with no debt, allowing for continued portfolio expansion.
  • The company received top ESG ratings from Sustainalytics (AAA), MSCI (AAA), & ISS ESG (Prime).
  • A conference call to discuss Q3 2026 results is scheduled for November 12, 2026, at 8:00 am ET.
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Franco-Nevada Corporation
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Franco-Nevada Corporation