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FNV reports a record adjusted EPS of $1.43 in Q3, topping estimates and soaring 79% y/y.
Revenues surged 76.9% to $488M, fueled by strong gold prices and higher precious metal output.
FNV boosts the 2025 GEO sales outlook to 495-525K and remains debt-free with a solid cash flow.
Franco-Nevada Corporation ((FNV - Free Report) ) reported record adjusted earnings of $1.43 per share in the third quarter of 2025, beating the Zacks Consensus Estimate of $1.37. The bottom line surged 79% year over year.
Franco-Nevada Corporation Price, Consensus and EPS Surprise
The company generated record revenues of $488 million in the reported quarter, surging 76.9% year over year, driven by record gold prices. In the September-end quarter, 85% of revenues were sourced from Precious Metal assets (72% gold, 11% silver and 2% platinum group metals).
The company sold 138,772 Gold Equivalent Ounces (GEOs) from precious metal assets in the reported quarter, up 26% from the prior-year quarter’s 110,110 GEOs. The upside was driven by deliveries from Cobre Panama and contributions from Precious Metal assets.
In the reported quarter, adjusted EBITDA surged 62.3% year over year to $427 million. The adjusted EBITDA margin was 87.6% in the quarter under review compared with 85.7% in the prior year-quarter.
FNV’s Q3 Financial Position
The company had $0.24 billion in cash in hand at the end of the third quarter of 2025, down from $1.45 billion as of the end of 2024. It recorded an operating cash flow of $1.07 billion in the first nine months of 2025, up from $0.59 billion in the prior-year period.
Franco-Nevada is debt-free and uses its free cash flow to expand its portfolio and pay out dividends.
Franco-Nevada’s 2025 Outlook
FNV expects total GEO sales to be 495,000-525,000 for 2025, updated from the previously mentioned 465,000-525,000.
FNV Stock’s Price Performance
Franco-Nevada’s shares have gained 39.5% in the past year compared with the industry’s growth of 77.9%.
Newmont Corporation ((NEM - Free Report) ) reported third-quarter 2025 adjusted earnings of $1.71 per share, up from 81 cents in the prior-year quarter. It topped the Zacks Consensus Estimate of $1.29.
NEM’s revenues for the third quarter were $5.52 billion, up roughly 20% from $4.61 billion in the prior-year quarter. The figure topped the Zacks Consensus Estimate of $4.97 billion. The increase in the top line was primarily due to higher year-over-year realized gold prices.
Agnico Eagle Mines Limited ((AEM - Free Report) ) posted adjusted earnings of $2.16 per share for the third quarter of 2025, up from $1.14 in the year-ago quarter. The bottom line topped the Zacks Consensus Estimate of $1.76.
Agnico Eagle Mines generated revenues of $3.06 billion, up 41.9% year over year. The top line surpassed the Zacks Consensus Estimate of $2.73 billion.
Kinross Gold Corporation ((KGC - Free Report) ) registered adjusted earnings of 44 cents per share compared with the prior-year quarter’s 24 cents. The bottom line beat the Zacks Consensus Estimate of 39 cents.
Kinross Gold’s revenues rose 25.8% year over year to $1.80 billion in the third quarter. It topped the Zacks Consensus Estimate of $1.53 billion.
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Franco-Nevada Q3 Earnings Beat Estimates, Revenues Surge 77% Y/Y
Key Takeaways
Franco-Nevada Corporation ((FNV - Free Report) ) reported record adjusted earnings of $1.43 per share in the third quarter of 2025, beating the Zacks Consensus Estimate of $1.37. The bottom line surged 79% year over year.
Franco-Nevada Corporation Price, Consensus and EPS Surprise
Franco-Nevada Corporation price-consensus-eps-surprise-chart | Franco-Nevada Corporation Quote
Franco-Nevada’s Q3 EBITDA Margin Rises Y/Y
The company generated record revenues of $488 million in the reported quarter, surging 76.9% year over year, driven by record gold prices. In the September-end quarter, 85% of revenues were sourced from Precious Metal assets (72% gold, 11% silver and 2% platinum group metals).
The company sold 138,772 Gold Equivalent Ounces (GEOs) from precious metal assets in the reported quarter, up 26% from the prior-year quarter’s 110,110 GEOs. The upside was driven by deliveries from Cobre Panama and contributions from Precious Metal assets.
In the reported quarter, adjusted EBITDA surged 62.3% year over year to $427 million. The adjusted EBITDA margin was 87.6% in the quarter under review compared with 85.7% in the prior year-quarter.
FNV’s Q3 Financial Position
The company had $0.24 billion in cash in hand at the end of the third quarter of 2025, down from $1.45 billion as of the end of 2024. It recorded an operating cash flow of $1.07 billion in the first nine months of 2025, up from $0.59 billion in the prior-year period.
Franco-Nevada is debt-free and uses its free cash flow to expand its portfolio and pay out dividends.
Franco-Nevada’s 2025 Outlook
FNV expects total GEO sales to be 495,000-525,000 for 2025, updated from the previously mentioned 465,000-525,000.
FNV Stock’s Price Performance
Franco-Nevada’s shares have gained 39.5% in the past year compared with the industry’s growth of 77.9%.
Franco-Nevada’s Zacks Rank
FNV currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Peer Performances
Newmont Corporation ((NEM - Free Report) ) reported third-quarter 2025 adjusted earnings of $1.71 per share, up from 81 cents in the prior-year quarter. It topped the Zacks Consensus Estimate of $1.29.
NEM’s revenues for the third quarter were $5.52 billion, up roughly 20% from $4.61 billion in the prior-year quarter. The figure topped the Zacks Consensus Estimate of $4.97 billion. The increase in the top line was primarily due to higher year-over-year realized gold prices.
Agnico Eagle Mines Limited ((AEM - Free Report) ) posted adjusted earnings of $2.16 per share for the third quarter of 2025, up from $1.14 in the year-ago quarter. The bottom line topped the Zacks Consensus Estimate of $1.76.
Agnico Eagle Mines generated revenues of $3.06 billion, up 41.9% year over year. The top line surpassed the Zacks Consensus Estimate of $2.73 billion.
Kinross Gold Corporation ((KGC - Free Report) ) registered adjusted earnings of 44 cents per share compared with the prior-year quarter’s 24 cents. The bottom line beat the Zacks Consensus Estimate of 39 cents.
Kinross Gold’s revenues rose 25.8% year over year to $1.80 billion in the third quarter. It topped the Zacks Consensus Estimate of $1.53 billion.