Canada's Franco-Nevada Q3 revenue misses estimates on lower gold stream deliveries
FNV•Franco-Nevada's Q3 revenue rose 13% year over year to $549.3 million, below the $587.84 million estimate, while adjusted EPS rose to $1.89, also missing estimates. The company expects 2026 GEOs sold of 525,000 to 555,000 and diversified revenue of $300 million to $330 million.
1. Quarterly results
Franco-Nevada reported Q3 revenue of $549.3 million, up 13% year over year but below the $587.84 million analyst estimate. Adjusted EPS rose year over year to $1.89, compared with the $1.94 estimate.
2. Drivers and outlook
The company said higher gold and oil prices drove revenue and earnings growth, while lower contributions from gold streams and iron ore assets reduced GEOs sold. Lower deliveries or production at Cobre Panamá, Guadalupe-Palmarejo, Antapaccay and Candelaria weighed on precious metal GEOs sold. Franco-Nevada expects 2026 GEOs sold of 525,000 to 555,000 and diversified revenue of $300 million to $330 million, and said it is tracking toward the midpoint of its annual guidance.
